Greystone Logistics, Inc. (Greystone) engages in manufacturing plastic pallets utilizing recycled plastic and selling the pallets through its wholly owned subsidiary, Greystone Manufacturing, L.L.C. (GSM).
Greystone sells its pallets through a network of independent contractor distributors and direct sales by its President and sales department. As of May 31, 2024, Greystone had an aggregate in-house production capacity of approximately 225,000 pallets per month from 14 injection molding machine...
Greystone Logistics, Inc. (Greystone) engages in manufacturing plastic pallets utilizing recycled plastic and selling the pallets through its wholly owned subsidiary, Greystone Manufacturing, L.L.C. (GSM).
Greystone sells its pallets through a network of independent contractor distributors and direct sales by its President and sales department. As of May 31, 2024, Greystone had an aggregate in-house production capacity of approximately 225,000 pallets per month from 14 injection molding machines of which 12 are located in Bettendorf, IA and 2 located in Palmyra, MO. In addition, Greystone outsources production for pallets produced by injection molding machines as necessary to accommodate overflow.
Greystone's injection molding machine production as of May 31, 2024 consisted of the following: 37 inches X 32 inches rackable pallet, 40 inches X 32 inches rackable pallet, 37 inches X 37 inches rackable pallet, 44 inches X 56 inches can pallet, 48 inches X 48 inches rackable pallet, 48 inches X 40 inches rackable pallet, 48 inches X 44 inches rackable pallet, 48 inches X 40 inches nestable pallet with or without detachable runners, 45 inches X 45 inches nestable pallet with or without detachable bottom deck, 24 inches X 40 inches display pallet, 48 inches X 40 inches monoblock (one-piece) pallet, Half-barrel keg stackable pallet, Slim keg stackable pallet, 36 inches X 36 inches rackable pallet, 48 inches X 45 inches monoblock pallet, 48 inches X 45 inches drum pallet, and 48 inches X 40 inches mid duty pallet.
In April 2023, Greystone opened a facility in Jasper, IN, through the purchase of equipment, including robotics, that uses an extrusion process to produce plastic pallets. Recycled plastic will be used in the process consistent with Greystone’s green standards. The pallets created from this extrusion process are robotically welded producing pallets in unusual sizes, including 30 inches X 30 inches, 60 inches X 60 inches, and also 96 inches X 48 inches designs.
Marketing and Customers
Greystone's primary focus is to provide quality plastic pallets to its existing customers while continuing its marketing efforts to broaden its customer base. Greystone's existing customers are primarily located in the United States and engaged in the beverage, pharmaceutical and other industries. Greystone has generated, and plans to continue to generate, interest in its pallets by attending trade shows sponsored by industry segments that would benefit from Greystone's products. Greystone intends to gain wider product acceptance by marketing the concept that the widespread use of plastic pallets could greatly reduce the destruction of trees on a worldwide basis. Greystone sells to customers through contract distributors or by direct contract through its President and other employees.
Greystone’s customers generally either have a recurring need for pallets, such as a distributor and an end-user who acquires pallets for a closed loop distribution system or end users who acquire pallets for internal warehouse use. During 2024, Greystone derived a substantial portion of its revenue from three customers. These customers accounted for approximately 81% of total sales in fiscal year 2024. Greystone’s recycled plastic pallets are designed to meet the respective customer’s needs and are the only pallets approved for use by these customers.
History
The company was incorporated in Delaware in 1969. It was formerly known as Permaspray Manufacturing Corporation and changed its name to Browning Enterprises Inc. in 1982 and then to Cabec Energy Corp. in 1993. Further, the company changed its name to PalWeb Corporation in 1999 and then to Greystone Logistics, Inc. in 2005.