SOURCE: Greystone Logistics, Inc.

June 09, 2009 06:00 ET

Greystone Logistics, Inc. to Provide Plastic Pallets to Diageo

TULSA, OK--(Marketwire - June 9, 2009) - Greystone Logistics, Inc. (OTCBB: GLGI) recently reached an agreement to provide 100% recycled 48x40 plastic shipping pallets for Diageo at one of their U.S. facilities. Diageo is the world's leading premium drinks business with an outstanding collection of beverage alcohol brands across spirits, wine and beer categories.

"Greystone is pleased to have the opportunity to provide this highly respected worldwide corporation our recycled pallets," said Warren Kruger CEO of Greystone. "Companies continue to look at sustainable solutions that provide for efficiencies in storage, safety, cleanliness, and longevity of product."

About Greystone Logistics, Inc.

Greystone Manufacturing, located in Bettendorf, Iowa, manufactures high quality 100% recycled content plastic pallets utilizing patented and proprietary technologies. The company grinds and utilizes millions of pounds of polyethylene (PE), polypropylene (PP), and polyolefin (TPO) plastics. Greystone works with generators, collectors, and processors of plastic and is conscientiously working to decrease the amount of waste sent to landfill. Greystone has also been recognized in the past as the Iowa Recycler of the year and Goodwill Heartland Employer of the Year. Over the past two years Greystone has used nearly 50 million pounds of post consumer or industrial plastic in their green and sustainable manufacturing process which serves the beverage, pharmaceutical and other industries. More information is available on the company web site at www.greystonelogistics.com.

Forward-Looking Statements

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 Greystone expects, believes or anticipates will or may occur in the future, including the potential sales of pallets, the improvement of operating results or other possible business developments, are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties. The forward-looking statements above could be affected by any of the following factors: Greystone's prospects could be affected by changes in availability of raw materials, competition, rapid technological change and new legislation regarding environmental matters; Greystone may not be able to secure additional financing necessary to sustain and grow its operations; and a material portion of Greystone's business is and will be dependent upon a few large customers and there is no assurance that Greystone will be able to retain such customers. These risks and other risks that could affect Greystone's business are more fully described in its reports filed with the Securities and Exchange Commission, including Greystone's Form 10-KSB for the fiscal year ended May 31, 2007 or quarterly filings. Actual results may vary materially from the forward-looking statements. Greystone undertakes no duty to update any of the forward-looking statements in this release.

Contact Information