September 4, 2014 / 11:23 PM / 3 years ago

Brambles unit in 5-year agreement with Cathay Pacific

SYDNEY, Sept 5 (Reuters) - Brambles Ltd, the world’s largest supplier of pallets, said on Friday it had signed a five-year agreement with Cathay Pacific Airways to supply and manage containers and pallet accessories.

The agreement was signed through Bramble’s Swiss unit CHEP Aerospace Solutions, which will acquire Cathay Pacific’s fleet of 25,000 so-called unit load devices, convert the majority of their containers to modern units and supply a fleet of lightweight containers, it said.

Brambles, which owns and manages 300 million pallets, crates and containers in more than 50 countries, did not disclose the value of the deal.

Last month, it reported 5 percent growth in annual net profit after spinning off its data management business in December.

Reporting by Swati Pandey; Editing by Stephen Coates

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