Greystone Logistics Inc (NASDAQ: GLGI) is a plastic pallet manufacturing company that designs and produces recycled-plastic pallets for freight movement and storage applications. Revenue is generated through direct sales of plastic pallets to customers across industries that require pallet-based material handling. The company was incorporated in Delaware on February 24, 1969, originally under the name Permaspray Manufacturing Corporation. Warren F. Kruger serves as President, CEO, and CFO as of the 10-K filed August 29, 2025. Greystone operates manufacturing facilities including a plant opened in Jasper, IN in April 2023 that uses an extrusion process with robotic welding to produce pallets in a range of sizes. The company does not pay cash dividends to common stockholders, and the IBC Loan Agreement prohibits dividend payments to common stockholders without lender consent. Preferred stock dividends were paid in the amounts of $427,103 and $721,640 during fiscal years 2025 and 2024, respectively.

Revenue model

Transactional sales of plastic pallets directly to customers. No subscription or leasing revenue model is described in the filing excerpts.

Products and services

Recycled-plastic pallets in multiple configurations, including 36"x36" rackable pallets, 48"x45" monoblock pallets, 48"x45" drum pallets, 48"x40" mid duty pallets, and robotically welded pallets in sizes including 30"x30", 60"x60", and 96"x48". Raw materials include recycled plastic sourced from local, national, and potentially international suppliers.

Customers and end markets

Companies requiring pallet-based freight movement and storage, including end markets where sanitation concerns and food safety regulations drive preference for plastic over wood pallets. Specific customer names and concentration data are not disclosed in the filing excerpts.

Value-chain role

Manufacturer of plastic pallets. Greystone sources recycled plastic raw materials from suppliers and produces finished pallets using injection molding and an extrusion-with-robotic-welding process at its manufacturing facilities.

Geographic exposure

United States. Manufacturing facilities include a location in Jasper, IN opened in April 2023. No international operations are described in the filing excerpts.

Source: SEC 10-K, filed 2025-08-29

Industry: Special Industry Machinery, NEC Peers: ADM Tronics Unlimited Inc Basanite Inc Core Molding Technologies Inc Crown Electrokinetics Corp. Dow Inc Kraig Biocraft Laboratories Inc Zymergen Inc.