- Cold-storage packaging company Sonoco ThermoSafe, a unit of Sonoco Products ( NYSE: SON ), and United Airlines' ( NASDAQ: UAL ) cargo business have entered into a global lease agreement.
- The agreement is for Sonoco ThermoSafe's Pegasus ULD temperature-controlled bulk shipping container.
- "The agreement enables pharmaceutical freight forwarders access to Pegasus ULD containers directly from United Cargo," SON said in a statement on Monday.
- SON said United Cargo had over 90 stations in their temperature controlled global network for use in handling pharmaceutical products.
- Sonoco ThermoSafe's lease agreement with United Cargo comes weeks after a similar agreement with American Airlines' cargo unit .
- Shares of SON earlier closed -1.1% at $56.18, while UAL stock ended -3.5% at $31.90.
For further details see:
Sonoco ThermoSafe & United Airlines' cargo arm sign global master lease agreement