Greystone Logistics Announces Record Sales in 4th Quarter

Plastic pallet producer Greystone Logistics has announced record sales for the 4th quarter of fiscal year end May 31, 2011.

Warren Kruger, CEO stated, “Greystone is pleased to announce to shareholders our sales for the 4th quarter reached an all time high for any quarter in the company’s history of $6.249 million with full year sales of $20.5 million. For a look at the progress made during the year I encourage our shareholders to view our Form 10-K filed with the SEC. As discussed in previous filings, significant downtime on an extruder, mold repairs, fluctuating resin pricing and the uncertain economic climate hindered sales volume and cash flow for our first three quarters. Our experienced team navigated through these issues allowing a record resurgence in the fourth quarter. This momentum has carried forward into the quarter ended August 31, 2011 and I anticipate sales for that quarter in the $6 million range. Our upgrades on machines and molds for existing products and the production and distribution of our 100% recycled plastic keg pallet for MillerCoors Brewing fueled the growth. Our first quarter Form 10-Q will be filed by October 17, 2011. Greystone stands out as a ‘green’ company that doesn’t just talk about being sustainable but uses only recycled materials to produce plastic pallets. We are on pace to recycle 50 million pounds of plastic, including car bumpers, pill bottles, milk jugs, detergent bottles, and polyethylene waste streams of all types.”

Greystone Logistics is a growing manufacturing and leasing company that reprocesses and sells recycled plastic and designs, manufactures, sells and leases high quality plastic pallets that provide logistical solutions needed by a wide range of industries such as the food and beverage, automotive, chemical, pharmaceutical and consumer product industries. Greystone’s technology, including that used in its injection molding equipment, proprietary blend of recycled petrochemical resins and patented pallet designs allow production of high quality pallets quickly and at lower costs than many processes. The recycled plastic for its pallets helps control material costs while reducing environmental waste and provides cost advantages over users of virgin resin. Excess plastic not used in production of pallets is reprocessed for resale.

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