SOURCE: Greystone Logistics, Inc.

November 18, 2008 06:00 ET

Greystone Logistics' Go-To-Market Strategy Yields Results

TULSA, OK--(Marketwire - November 18, 2008) - Greystone Logistics, Inc. (OTCBB: GLGI) -- Greystone Logistics today announced numerous purchase orders resulting from the Company's newly implemented Go-To-Market strategy. Previously the company had indicated a move to more direct corporate sales, developing closer ties with a larger number of professional materials handling groups, and further expansion of the company's product line.

The company recently received a ten thousand nestable export pallet order, an eight thousand 48x40 international pallet order from Mexico, and an expanded order for additional production from a long time beverage customer.

CEO Warren Kruger stated, "We anticipate continued volume from the nestable export pallet and our Mexican Distributor. The capital spent to add sizes and types of pallets for the future of the company is yielding results. During our fiscal first quarter June 1-August 31 the company experienced decreased gross revenue due to the merger of our two largest customers. The resulting integration planning for their respective pallet pools caused timing delays in production. In spite of lower sales volume and the poor economy, EBITDA exceeded $550,000 as reported in the First Quarter 10-Q. We look forward to the continued move to sustainable products by environmentally conscious corporate pallet users. I am personally excited about our team, our expanding product line, and our new income stream from recycled resin sales. Accordingly, I intend to increase my holdings in the Company."

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, including the ability of the company to continue as a going concern. 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 period ended May 31, 2008 For additional information in relation to Greystone and its products see Form 10-QSB for period ended August 31, 2008.

Contact Information

  • CONTACT:
    Warren F. Kruger
    President/CEO
    Corporate Office
    1613 East 15th Street
    Tulsa, Oklahoma 74120
    (918) 583-7441
    (918) 583-7442 (FAX)
    Symbol: GLGI
    http://www.greystonelogistics.com