Sonoco ThermoSafe and Cathay Pacific Cargo Expand Partnership to Include Leasing of Pegasus ULD® Containers

Rhea-AI Summary

Sonoco ThermoSafe, a unit of Sonoco (NYSE:SON), has expanded its partnership with Cathay Pacific Cargo for leasing the innovative Pegasus ULD® temperature-controlled shipping container. This container is the first FAA and EASA-approved passive bulk solution for pharmaceuticals, ensuring efficient international transport at lower costs. The Pegasus ULD® features advanced composite materials for enhanced durability, along with a telemetry system for real-time monitoring of environmental conditions. This partnership aims to meet the growing demand for pharmaceutical distribution worldwide.

Positive

• Expansion of partnership with Cathay Pacific Cargo enhances market presence.
• Pegasus ULD® is the first FAA and EASA-approved passive bulk container, improving credibility.
• Real-time telemetry system offers superior tracking capabilities for pharmaceuticals.

Negative

• None.

ARLINGTON HEIGHTS, Ill., May 19, 2021 (GLOBE NEWSWIRE) -- Sonoco ThermoSafe, a unit of Sonoco (NYSE:SON) and the leading global provider of temperature assurance packaging, and Cathay Pacific Cargo, one of the world’s largest air cargo carriers, announced an expanded global partnership agreement for the leasing of the new Pegasus ULD® temperature controlled bulk shipping container. The agreement enables pharmaceutical freight forwarders to lease Pegasus ULD® containers directly from Cathay Pacific Cargo.

Sonoco ThermoSafe’s Pegasus ULD® is the world’s first FAA and EASA-approved passive bulk temperature-controlled ULD container for pharmaceutical use, which enables it to speed through international air freight handling and customs processes at the lowest possible cost. With a focus on sustainability, the Pegasus is engineered with composite materials, offering a lighter solution that is also substantially more damage-resistant than traditional metal containers. Additionally, the Pegasus ULD® contains a fully integrated, FAA-approved telemetry system, providing real-time, cloud-based data on payload and ambient temperature and key environmental factors, precisely synchronized with GPS location.

Bourji Mourad, who heads Logistics & Partner Management for Sonoco ThermoSafe’s Bulk Rental group, said, “Sonoco ThermoSafe is proud to again drive innovation in temperature-controlled container design with our Pegasus ULD. We are confident our expanded partnership with an industry leader such as Cathay Pacific Cargo will accelerate the adoption of the Pegasus ULD during the world’s most demanding need for pharmaceutical distribution.”

For more information on the Pegasus ULD, visit thermosafe.com/pegasus-ULD.

About Sonoco ThermoSafe
Sonoco ThermoSafe, a unit of Sonoco (NYSE:SON), is the leading global provider of temperature assurance packaging for the safe and efficient transport of pharmaceuticals, biologics, vaccines and other temperature-sensitive products. Sonoco ThermoSafe shipping solutions mitigate risk for customers and ensure product efficacy throughout the extremes of a supply chain. With operations in the Americas, Europe and Asia, Sonoco ThermoSafe has a vast product offering featuring industry-leading technology that encompasses refrigerated, frozen or controlled room temperature applications. In addition, Sonoco ThermoSafe's ISC Labs^® deliver individualized design and testing services and innovative packaging solutions along with qualification and validation services to meet all regulatory requirements. More information can be found at www.thermosafe.com.

About Sonoco
Founded in 1899, Sonoco is a global provider of consumer, industrial, healthcare and protective packaging. With annualized net sales of approximately $5.2 billion, the Company has 20,000 employees working in more than 300 operations in 34 countries serving some of the world’s best-known brands in some 85 nations. Sonoco is committed to creating sustainable products, services and programs for our customers, employees and communities that support our corporate purpose of Better Packaging. Better Life. The Company was listed as one of Fortune’s World’s Most Admired Companies 2021 as well as being included in Barron's 100 Most Sustainable Companies for the third year in a row.

FAQ

What does the expanded partnership between Sonoco and Cathay Pacific Cargo involve?

The partnership involves leasing the Pegasus ULD® temperature-controlled shipping containers directly from Cathay Pacific Cargo.

What is Pegasus ULD® and why is it significant?

Pegasus ULD® is the world's first FAA and EASA-approved passive bulk temperature-controlled container, crucial for safe pharmaceutical transport.

What are the benefits of the Pegasus ULD® for pharmaceutical transport?

It facilitates faster handling and customs processes, reduces costs, and is made from lightweight, damage-resistant materials.

When was the partnership agreement announced?

The partnership agreement was announced on May 19, 2021.

How does the telemetry system in Pegasus ULD® enhance its functionality?

The telemetry system provides real-time, cloud-based data on payload and ambient temperature, ensuring optimal conditions during transport.