Greystone Logistics Inc (OTCMKTS:GLGI) Stock On Watchlist After Acquisition News
It was a momentous day for Greystone Logistics Inc (OTCMKTS:GLGI) on Monday as the company announced that it had completed the acquisition of Paradigm Plastic Pallets.
Trading Data
On Monday, GLGI stock moved down 4.23% to $0.6800 with more than 18.70K shares, compared to volume of 10.83K shares. The stock moved within a range of $0.6600 – 0.7024 after opening trade at $0.6600.
Greystone Logistics, Inc. Reports Acquisition Of Pardigm Plastic Pallets
Paradigm is based out of Jasper and is involved with extrusion lines, production capabilities reinstatement and plastic pallet manufacturing. Paradigm manufactures the pallets with the deployment of a hollow profile extrusion process and in addition to that, robotics is used for the production process as well. Now that it has been acquired by Greystone, the production process is going to involve recycled plastic in order to be in line with the company’s green standards.
The pallets that are produced through this process would be a departure from the plastic injection pallet designs which are designed by Greystone currently. Warren Kruger, the Chief Executive Officer of the company, spoke about the latest acquisition as well.
He noted that the acquisition is going to allow Greystone to have access to a world class manufacturing process as well as a highly researched and developed line of products. He went on to add that everyone at the company was excited at the possibility of having added plastic extrusion capabilities to the company’s arsenal.
