Palex, Inc. - PALX- Profile

PalEX, Inc. markets operates under 2 business segments, pallet industry and steel drum reconditioning industry. The pallet industry produces, sells, leases, repairs, recycles and retrieves wooden pallets. The drum industry reconditions steel drums for the use in agricultural and industrial markets. During 1998, the company acquired 16 companies. Of the companies acquired 10 are in the pallet business and the remaining in the reconditioning and rebuilding of industrial containers. The company has conducted an evaluation of the actions necessary to ensure that the computer systems function without disruption in the year 2000. The company has incurred less than $50,000 for the remediation of the Year 2000 issue. Pallet accounted for 73% of 1998 revenues & steel drum reconditioning, 27%.