UK-based packaging group DS Smith Plc has offered to buy Spanish rival Europac for 1.9 billion euros ($2.2 billion) including debt to bolster its position in western Europe’s fast-growing packaging market. A deal would be DS Smith’s biggest acquisition to date and the latest in an industry benefiting from growing demand from online retailers. “Europac’s board of directors has confirmed that the acquisition is friendly and attractive,” DS Smith said on Monday, adding it had received undertakings to accept the offer from shareholders owning 58.97 percent of the Spanish company. Click Read More below for additional information.
Sonoco ThermoSafe, a unit of Sonoco (NYSE:SON) one of the largest global providers of temperature assurance packaging, and American Airlines Cargo, a trusted airline partner in transporting high-value, time and temperature sensitive shipments, are pleased to announce a global partnership lease agreement for the new Pegasus ULD® passive temperature-controlled bulk shipping container.
The Sonoco ThermoSafe’s Pegasus ULD® will join the carrier’s fleet of container products in the coming months. With a focus on sustainability, the Pegasus ULD® is engineered with composite materials, offering a lighter solution that is also substantially more damage-resistant than traditional metal containers. The Pegasus is also the world’s first FAA and EASA-approved advanced passive bulk temperature-controlled ULD container for pharmaceutical use, outfitted with real-time tracking and temperature-measuring capabilities.
“We are delighted to partner with American Airlines Cargo and add Sonoco ThermoSafe products to their ExpediteTC temperature-controlled product solution. Combined with American’s expert care and handling, customers will feel assured their shipments will arrive as promised when using our new temperature-controlled passive container,” said Bourji Mourad, who heads Logistics and Partner Management for Sonoco ThermoSafe’s Bulk Rental Group.
American Airlines Cargo has a long history of transporting life sciences and healthcare shipments, including biologics, vaccines, and other time-critical medical cargo – many of which require temperature-sensitive shipping and handling.
“We look forward to welcoming Sonoco ThermoSafe products to our portfolio in the coming months. We believe this global partnership will further strengthen our industry-certified cold-chain network and offer customers looking to transport temperature-sensitive shipments a new solution,” said Brian Hodges, Head of Customer Insights and Products at American Airlines Cargo.