UFP Packaging Expands PalletOne Nationally

Rhea-AI Summary

UFP Packaging announced on March 28, 2023, that its PalletOne unit has achieved a nationwide expansion, becoming the first wholly owned coast-to-coast pallet supplier in the United States. This initiative means PalletOne operates in over 70 UFP facilities, with plans to add 20 more. The expansion aims to enhance service delivery and strengthen PalletOne's position in the packaging industry. UFP Packaging, a subsidiary of UFP Industries (NASDAQ: UFPI), focuses on providing comprehensive packaging solutions across various sectors. The company has been active since 2001, emphasizing innovations in automated manufacturing and custom packaging solutions.

Positive

• Achievement of coast-to-coast operations, enhancing market reach.
• Expansion into over 70 locations with potential for 20 more, positioning PalletOne for increased demand.
• Strengthening service delivery capabilities for multi-site customers.

Negative

• None.

It becomes the first coast-to-coast premier pallet supplier

BARTOW, Fla., March 28, 2023 /PRNewswire/ -- UFP Packaging today announced that its PalletOne business unit has completed an expansion into UFP operations nationwide, making PalletOne the first wholly owned coast-to-coast pallet supplier in the United States.

PalletOne automated manufacturing lines now are in more than 70 UFP Packaging facilities with an opportunity to add 20 more locations.

"We are implementing the growth plan for PalletOne, which is integral to our goal of being a leading packaging solution provider globally," said UFP Packaging President Scott Worthington. "This is an exciting time for our organization and for PalletOne, specifically."

"Our expansion allows us to progress toward providing nationwide pallet solutions supplied by UFP company owned facilities, " said PalletOne President Howe Q. Wallace. "This will allow us to better serve our customers and maintain our position as a leader in the industry."

Since its founding in 2001, PalletOne has been a leader in pallet manufacturing, offering a range of services, including custom pallet design, unit load consultation, heat treating and pallet recycling and repair programs to ensure maximum safety and effectiveness. UFP Packaging purchased PalletOne in 2020 and has since continued leveraging its pallet supply expertise to provide top-tier products and services to all its customers. This expansion will bring that same service to the entire country.

"Backed by the resources of UFP, our unmatched geographic breadth and extensive resources will allow us to adapt quickly to supply chain disruption and efficiently meet the growing demand of our multi-site customers," Wallace said.

PalletOne, Inc.

A UFP Packaging company, PalletOne is the nation's largest, single-source pallet manufacturer. Headquartered in Bartow, Fla., the company manufactures pallets, provides pallet repair programs, recycles used pallets, and produces a variety of other wood products. The company also offers customized services, including Pallet Concierge™, wood packaging design, engineering and testing, and is an industry leader in robotic and automated pallet manufacturing processes. https://www.palletone.com/

UFP Packaging

A part of the UFP Industries, Inc., family of companies, UFP Packaging provides full-service, customized packaging solutions and related services to a wide range of industries. With facilities across the globe, it serves regional, national and global customers with everything from wood pallets to corrugated, and from labels to custom skids. www.ufppackaging.com

UFP Industries, Inc.

UFP Industries is a holding company whose subsidiaries supply wood, wood composite and other products to three robust markets: retail, construction and industrial. Founded in 1955, the company is headquartered in Grand Rapids, Mich., with affiliates throughout North America, Europe, Asia, and Australia. It has been a publicly traded company since 1993 (Nasdaq: UFPI). www.ufpi.com

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SOURCE PalletOne, Inc.

FAQ

What is the significance of UFP Packaging's recent PalletOne expansion?

The expansion makes PalletOne the first wholly owned coast-to-coast pallet supplier in the U.S., enhancing its market reach.

How many locations does PalletOne operate in after the expansion?

PalletOne operates in over 70 UFP facilities, with plans to add 20 more locations.

When was the PalletOne expansion announced?

The expansion was announced on March 28, 2023.

Which company does UFP Packaging belong to?

UFP Packaging is a subsidiary of UFP Industries, which trades under the NASDAQ symbol UFPI.

What services does PalletOne offer?

PalletOne offers custom pallet design, pallet recycling, and repair programs, among other services.