Corporate Profile for PalEx Inc., dated April 16, 1999.--(BUSINESS WIRE)-- The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: April 16, 1999
Company Name: PalEx Inc.
Address: 6829 Flintlock Road
Houston, TX 77040
Main Telephone
Number: 713/332-6145
Internet Home
Page Address
(URL) http://www.palex.com
Chief Executive
Officer: Vance K. Maultsby, Jr.
Chief Accounting
Officer: Casey A. Fletcher
Investor Relations
Contact: Vance K. Maultsby, Jr.
Business number: 713/332-6145
Public Relations
Contact: Jennifer Daniels
Business number: 941/533-1148 ext. 1530
Trading Symbol/
Exchange: PALX / Nasdaq
Industry: Containers & Packaging
Market Makers: BT Alex Brown Inc., Saunders Morris Mundy Inc.,
Nationsbanc Montgomery Securities, EBI Securities, Spear Leeds &
Kellogg, Knight Securities L.P., Sherwood Securities Corp., Mayer &
Schweitzer Inc., Island System Corp.
Company description: PalEx is America's largest pallet manufacturer, pallet recycler and steel drum steel drum Tuned gong made from the end, and part of the wall, of an oil barrel. The barrel's end surface is hammered into a concave shape, and several areas are outlined by chiseled grooves. reconditioning company. The company's mission is to become a leader in providing material handling devices to industry, agriculture and trade with a focus on recyclable re·cy·cle tr.v. re·cy·cled, re·cy·cling, re·cy·cles 1. To put or pass through a cycle again, as for further treatment. 2. To start a different cycle in. 3. a. and returnable platforms and containers. At a Glance -- Number one provider of pallets and pallet recycling recycling, the process of recovering and reusing waste products—from household use, manufacturing, agriculture, and business—and thereby reducing their burden on the environment. and steel drum reconditioning systems in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . The pallet industry is a $6 billion industry in North America. -- Formed by pallet industry leaders to create a national provider of material handling devices, PalEx closed its initial public offering in March 1997 concurrently with the acquisition of three of the leading U.S. pallet businesses with an initial pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma revenue of $102 million. -- Since its founding, PalEx has acquired 23 companies and has combined 1999 "run-rate" revenues in excess of $400 million. Currently, PalEx employs 3,600 and operates 71 facilities in 23 states and seven Canadian provinces Noun 1. Canadian province - Canada is divided into 12 provinces for administrative purposes province, state - the territory occupied by one of the constituent administrative districts of a nation; "his state is in the deep south" . -- In an effort to establish a network throughout North America, PalEx has initiated an aggressive acquisition and growth plan. In February 1998, PalEx moved into the returnable and recyclable container industry with the acquisition of four of the leading US steel drum refurbishing businesses. -- PalEx is the second largest pallet pooling company in North America through the ownership of pallets leased to members of and its other participation in Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. Pallet Council. Financial Highlights -- Total assets: $292 million (as of 12/27/98) -- 1998 revenues: $319.7 million (reported) $379 million (run-rate) Corporate Officers -- Sam Humphreys, Chairman of the Board -- Vance Maultsby, Chief Executive Officer -- Joe Cruz, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. -- Phil M. Freeman Freeman can mean:
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