{"id":36540,"date":"2023-07-13T14:59:23","date_gmt":"2023-07-13T18:59:23","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?p=36540"},"modified":"2023-07-13T14:59:23","modified_gmt":"2023-07-13T18:59:23","slug":"pallets-inc-in-fort-edward-acquired-by-firm-in-quebec-workers-will-stay-on","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2023\/07\/pallets-inc-in-fort-edward-acquired-by-firm-in-quebec-workers-will-stay-on\/","title":{"rendered":"Pallets Inc. In Fort Edward Acquired By Firm In Quebec; Workers Will Stay On"},"content":{"rendered":"
\"\"
Pallets Inc. in Fort Edward has been acquired by Damabois, a Canadian company.
Courtesy Pallets Inc.<\/figcaption><\/figure>\n

By Christine Graf<\/p>\n

Pallets Inc. in Fort Edward, a third-generation family owned business, was recently acquired by Damabois, a Canadian company that operates nine factories in Quebec and the Maritime provinces of Eastern Canada.\u00a0<\/span><\/p>\n

A leader in the transformation of wood and wood derivatives, Damabois was founded in 1986. The company harvests its own timber to manufacture pallets and uses milling by-products such as shavings and sawdust to make eco-friendly, slow-burning energy logs.\u00a0<\/span><\/p>\n

Damabois\u2019 first U.S. acquisition was Essex Box and Pallet (renamed D Pallet Shop) in Keeseville, N.Y. After acquiring Pallets Inc., the company consolidated its U.S. operations in Fort Edward.\u00a0<\/span><\/p>\n

According to Jean-Philippe Bertrand, director of operations for Damabois, the company is seeking to grow its business in the United States.<\/p>\n

\u201cOn the north side of the border in the province in Quebec, we are a key player in the pallet manufacturing business. We reached a point where our market shares were maxed out, and we needed to go into a larger market. We chose the northeast of the United States,\u201d he said.<\/p>\n

<\/span><\/span><\/span><\/strong>Pallets Inc. was founded in 1942 by Arthur Binley, Jr. During the company\u2019s 80 years in business, it has been operated by members of the Binley family. It was third-generation owner, Clint Binley, who made the decision to sell the company.\u00a0<\/span><\/p>\n

Binley will remain with the company during the transition, and Damabois has retained the company\u2019s approximately 35 employees. They have also hired several additional administrative staff members. \u00a0<\/span><\/p>\n

\u201cWe wanted this company because of the people. We needed people that knew the business and knew the market in the US,\u201d said Bertrand. \u201cWe acquired teachers.\u201d<\/p>\n

The employees at Pallets Inc. have an average of more than 13 years of experience. Their part-time mill manager has been with the company for more than 45 years.\u00a0<\/span><\/p>\n

\u201cThere\u2019s a lot of knowledge here which is one of the reasons Damabois was really interest in us,\u201d said Marvin Horowitz, controller at Pallets Inc.<\/p>\n

Damabois took ownership of Pallets Inc. at the end of February, and Bertrand said he has been happy with how well the employees have handled the transition.<\/p>\n

\u201cThey have been adjusting very well. It\u2019s a different country, and there is a language barrier. We were expecting challenges, but so far, I\u2019m waiting for the first one. It\u2019s been very, very smooth.\u201d<\/p>\n

According to Horowitz, \u201cThe employees are very excited for the future. They are looking forward to the growth that we are trying to build on. It\u2019s been a very exciting time for us. Damabois has been great to us.\u201d<\/p>\n

Since purchasing Pallets Inc., Damabois has already invested $1 million in a new pallet nailing machine. As the company expands its market share in the United States, Pallets Inc. is likely to grow.\u00a0<\/span><\/p>\n

\u201cWhat we have done with our other businesses is that we bring the business up to maximum capacity with the first shift, and then we create other shifts,\u201d said Bertrand. \u201cDown the road, that could mean a new building or an addition. It could also mean additional equipment.\u201d<\/p>\n

In addition to manufacturing new pallets, Pallets Inc. also refurbishes used pallets. The majority of the company\u2019s clients are in the papermaking, mining, farming, and pharmaceutical industries. Damabois hopes to expand its customer base, serving customers both large and small.\u00a0<\/span><\/p>\n

\u201cAnybody that uses wood pallets is a potential client,\u201d said Bertrand. \u201cWe don\u2019t cherry pick.\u00a0 <\/span>Big or small, we are here to help anybody.\u201d\u00a0<\/span><\/p>\n

When asked if Damabois plans to make additional acquisitions in the United States, he said, \u201cThe market is so uncertain now. Business is a lot slower than during COVID. COVID created a boost of demand, and now we are 30 percent below last year. Further expansion is on hold, but it\u2019s never out of the question. Right now, our plan is to grow Pallets Inc.\u201d<\/p>\n

According to Bertrand, the forest fires that are raging in Canada are expected to impact prices of pallets as well as other lumber products.\u00a0<\/span><\/p>\n

\u201cThe impact will be huge. It\u2019s going to create a shortage of wood on the market which means that prices are going to go up. Prices will increase but not to the extent they did during COVID.\u201d<\/p>\n

At the present time, there are no fires burning in the areas where Damabois\u2019 mills are located or where the company harvests its wood. \u00a0<\/span><\/p>\n

\u201cFor us, there will be an increase in cost because of the fires,\u201d said Bertrand.\u00a0 <\/span>\u201cAll of our equipment is stuck on the field and we cannot move it around. We can\u2019t get access to those areas.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

By Christine Graf Pallets Inc. in Fort Edward, a third-generation family owned business, was recently acquired by Damabois, a Canadian company that operates nine factories in Quebec and the Maritime provinces of Eastern Canada.\u00a0 A leader in the transformation of wood and wood derivatives, Damabois was founded in 1986. The company harvests its own timber […]<\/p>\n","protected":false},"author":89,"featured_media":36541,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"yoast_head":"\r\nPallets Inc. 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