DONCASTER, UK – 1st September 2022
SYNETIQ Ltd., an IAA, Inc. company (NYSE: IAA), and one of the UK’s largest integrated salvage, dismantling and vehicle recycling company, has confirmed its membership with the National Body Repair Association (NBRA) in a bid to increase the awareness, importance and benefits of using green parts to its members.
The pairing comes following the recent announcement of SYNETIQ’s Backorder team in response to delays of OEM parts which saw repairers waiting up to 190 days for replacement parts.
Green parts are quality, non-safety-related used parts such as head lamps, bumpers, mirrors and doors. They not only provide a cost-effective solution to reducing off road time – they also contribute towards the reduction in carbon footprint by avoiding the unnecessary manufacture of a new part.
The NBRA is the only established not for profit trade body for vehicle collision repairers in the UK and is owned equally by its members. They operate a strict Code of Practice approved by the Chartered Trading Standards Institute and provides an ideal platform for SYNETIQ to continue to ‘bang the green parts drum.’
With 71% of bodyshops opting to use green parts in their repairs (according to the ABP Club), the green parts message is spreading. Those repairers not using green parts say the choice is out of their hands and is down to policyholder and work provider resistance.
This resistance, along with the fact that new parts availability still ranks as the third biggest threat to the industry, does indicate more work needs to be done in raising the awareness and benefits of green parts.
David Bradley, Head of Green Parts at SYNETIQ believes this new relationship with the NBRA will bring forward a powerful and influential voice to continue the green parts message: “We’re proud to become a member of the NBRA and to have the chance to engage and listen to their members across the UK.
“One of the main reasons for our collaboration is that we share such similar values, and we exist for the same purpose – to transform our industry for the better. We can only do this by working together, particularly to raise the awareness of green parts and the benefits they bring.
“We’re already seeing the tide of change in opinions of using green parts and collaboratively we aim to keep this momentum going by listening and acting on feedback. We want members to help shape the future of green parts and I believe that together, we are a powerful voice that can make an impactful difference to our industry, our customers and in the global efforts of reducing carbon emissions.”
Chris Weeks, Director at NBRA is a strong supporter of recycling and explained: “NBRA have been pushing the environmental message for many years now and in October this year will host our third Greener Bodyshop Awards. However, profitability, parts delays and speed of repair is almost a more immediate challenge for repairers, one which can be significantly counteracted with intelligent use of recycled parts.”
“SYNETIQ are incredibly proactive in this space and very keen to work more closely with the NBRA and to understand what more can be done to assist the sustainability of both repairers and the environment. We are very pleased to announce this collaboration.”
SYNETIQ, an IAA company (NYSE: IAA), is the largest integrated salvage, dismantling and vehicle recycling company in the UK, formed to become the most innovative and trusted business in the industry. An integrated, data driven and innovative business, SYNETIQ has led the way in raising industry standards and continually innovates ways of working, to deliver great value, ensure complete compliance and a positive experience.
SYNETIQ is proud to have major household names in its portfolio, including insurers, accident management companies, fleets, police forces, logistics companies, vehicle repair body shops, and remanufacturers. With cutting edge data and software solutions, multiple sites, a specialist vehicle recovery fleet and over 500 dedicated UK-based employees, customers and clients trust SYNETIQ to create bespoke solutions to deliver the maximum benefit for their business. Its primary goal is to understand client and customer needs, delivering the right solution, first time.
Certain statements contained in this release include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements made in this release that are not historical facts may be forward-looking statements and can be identified by words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions. Forward-looking statements are based on management’s current expectations, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. These risks and uncertainties are described in our filings with the Securities and Exchange Commission (the “SEC”), including under Item 1A “Risk Factors” in our Annual Report on Form 10-K filed with the SEC on February 28, 2022 and Item 1A “Risk Factors” in our Quarterly Report on Form 10-Q filed with the SEC on May 10, 2022, as such risk factors may be amended, supplemented or superseded from time to time by other reports we file with the SEC, including subsequent Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Other risks and uncertainties that are not presently known to us or that we currently deem immaterial may also affect our business and operating results. The forward-looking statements in this release are made as of the date on which they are made and we do not undertake to update our forward-looking statements.
|U.S Media Inquiries:||Analyst Inquiries:|
|Jeanene O’Brien | IAA, Inc.
SVP, Global Marketing and Communications
(708) 492-7328 | email@example.com
|Caitlin Churchill | ICR