Pallet manufacturer forms alliance with China-based fiberglass provider
The agreement will allow for the mass production of the BLOCKpal pallet in Tongxiang, China.
RM2 USA, Chatham, N.J., entered into a landmark alliance with China-based Zhenshi Holding Group Co. Ltd. for production of the new BLOCKPal pallet. Zhenshi is a major shareholder of China Jushi Co. Ltd., a manufacturer of fiberglass, which is one of the key raw materials used in the manufacture of the BLOCKpal pallet.
The agreement will allow for the mass production of the BLOCKpal pallet in Tongxiang, adjacent to the principal Jushi fiberglass manufacturing plant. Initial production is expected to be deployed in Q1 2017, and will target circa 1.5 million pallets per annum, with projected growth to at least 5 million pallets per annum in the medium term. Pallets produced at the facility will initially be deployed to RM2's North American and European customers.