Benzinga | Dec 13, 2021 09:03AM EST

Sonoco, Asiana Cargo Ink Lease Agreement For Pegasus ULD Container

* Sonoco Products Co (NYSE:SON) unit Sonoco ThermoSafe has signed a global partnership agreement with South Korean airline Asiana Airlines Inc for leasing the new Pegasus ULD temperature-controlled bulk shipping container. The financial terms were not disclosed.

* The agreement enables pharmaceutical freight forwarders access to Pegasus ULD containers directly from Asiana Airlines.

* Sonoco ThermoSafe's Pegasus ULD is an FAA and EASA-approved passive bulk temperature-controlled ULD container for pharmaceutical use.

* 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, synchronized with GPS location.

* Price Action: SON shares closed higher by 0.47% at $59.89 on Friday.