Greystone Logistics Announces Major Contract
8 August 2019
TULSA, OK, Aug. 05, 2019 (GLOBE NEWSWIRE) -- Greystone Logistics, Inc. (OTC BB: GLGI), recently signed a $6.8 million purchase order with a national food and agribusiness company for the manufacture and delivery of plastic pallets over the next 12 months.
“Greystone’s 100% recycled plastic pallet with innovative cold storage additives provided a solution for our new customer eliminating the constant problem of broken wooden pallets and inconsistencies in sizes within their automated facilities.” stated Warren Kruger, CEO. “This new purchase order of our market-proven pallet adds substantially to our volume over the next 12 months. Our team worked diligently during the testing phase to insure the customer’s satisfaction. The Greystone 100% recycled pallet design was chosen for the ability to withstand blast freezer environments, recyclability, long life cycle, substantial racking strength and tremendous coefficient of friction.”
Greystone Logistics is a "Green" manufacturing company that recycles plastic and designs, manufactures and markets high-quality 100% recycled plastic pallets that provide logistical solutions needed by a wide range of industries such as food and beverage, agricultural, automotive, chemical, consumer products and pharmaceutical. The Company's technology, including its proprietary blend of recycled plastic resins used in the injection molding equipment and patented pallet designs, allows 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.
This press release includes certain statements that may be deemed "forward-looking statements" within the meaning of the federal securities laws. All statements, other than statements of historical facts that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, including the potential sales of pallets or other possible business developments, are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties. Actual results may vary materially from the forward-looking statements. For a list of certain material risks relating to Greystone and its products, see Greystone's Form 10-KSB for the year ended May 31, 2018.
Warren F. Kruger
1613 East 15th Street
Tulsa, Oklahoma 74120
(918) 583-7442 (FAX)