Sonoco ThermoSafe and Singapore Airlines Sign Global Master Lease Agreement

Rhea-AI Summary

Sonoco ThermoSafe has entered a global partnership with Singapore Airlines to lease the innovative Pegasus ULD® temperature-controlled shipping container. This agreement allows pharmaceutical freight forwarders to access these containers directly from Singapore Airlines, enhancing the transport of high-value pharmaceutical cargo. The Pegasus ULD® is pioneering as the first FAA and EASA-approved temperature-controlled bulk container designed for pharmaceuticals, offering optimized freight handling and sustainability via composite materials. The container features integrated telemetry for real-time monitoring of temperature and location.

Positive

• Partnership with Singapore Airlines enhances transport solutions for pharmaceutical freight.
• Pegasus ULD® is the first FAA and EASA-approved passive bulk temperature-controlled container for pharmaceuticals.
• Sustainability focus with composite materials, resulting in reduced weight and increased damage resistance.
• Integration of FAA-approved telemetry system allows for real-time tracking of temperature and key environmental factors.

Negative

• None.

ARLINGTON HEIGHTS, Ill., Nov. 17, 2021 (GLOBE NEWSWIRE) -- Sonoco ThermoSafe, a unit of Sonoco (NYSE:SON) and the leading global provider of temperature assurance packaging, and Singapore Airlines, a trusted partner in transporting high-value, time and temperature sensitive pharmaceutical cargo across the world, are pleased to announce a global partnership agreement for leasing the new Pegasus ULD® temperature-controlled bulk shipping container. The agreement enables pharmaceutical freight forwarders access to Pegasus ULD® containers directly from Singapore Airlines. Singapore Airlines and mutual clients will also have access to other Sonoco ThermoSafe containers as part of this agreement.

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.

“We are delighted to partner with Singapore Airlines for inclusion of the Pegasus ULD® container to its cold chain service THRUCOOL,” said Bourji Mourad, who heads Logistics and Partner Management for Sonoco ThermoSafe’s Bulk Rental Group.

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 (NYSE: SON) is a global provider of consumer, industrial, healthcare and protective packaging. With annualized net sales of approximately $5.2 billion, the Company has approximately 19,000 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 for 2021 as well as Barron’s 100 Most Sustainable Companies for the third-consecutive year. For more information, visit www.sonoco.com.

FAQ

What is the significance of the partnership between Sonoco and Singapore Airlines?

The partnership allows pharmaceutical freight forwarders to directly lease the Pegasus ULD® containers, improving the efficiency of transporting high-value pharmaceuticals.

What is the Pegasus ULD® container?

The Pegasus ULD® is the world’s first FAA and EASA-approved passive bulk temperature-controlled container specifically designed for pharmaceutical transport.

What technology does the Pegasus ULD® use?

It features a fully integrated FAA-approved telemetry system for real-time monitoring of payload and environmental conditions.

How does the Pegasus ULD® contribute to sustainability?

It is constructed from composite materials, making it lighter and more damage-resistant than traditional metal containers.