LISBON, PORTUGAL -- Manheim has further extended its European remarketing operations with the acquisition of two auction centers in Portugal, according to Fleet Europe magazine.

Situated in Lisbon and Porto, the two sites have been acquired from Soc. Leiloes de Veiculos S.A. and have the capacity to sell around 15,000 vehicles between them each year. It's Manheim's first foray into Portugal, where the used vehicle market is relatively small but well developed, selling nearly 2.5 used cars for every new one sold.

Manheim had already existing remarketing infrastructures in Spain, Holland, Belgium, France and Germany.