SYDNEY -(Dow Jones)- Global logistics firm Brambles Ltd. (BXB.AU) confirmed Wednesday its CHEP wooden pallet pooling business has lost a contract with units of U.S. food and beverage firm PepsiCo Inc. (PEP), which will move to exclusively use plastic pallets supplied by a competitor from next month.
Florida-based Intelligent Global Pooling Systems, owned by private-equity firm Pegasus Capital Advisers, said on its website Monday it has been informed by Pepsico that its Quaker, Gatorade and Tropicana business units will begin integrating the firm's all-plastic pallets completely across their supply chain from April 1.
A spokesman for Brambles told Dow Jones Newswires that while the loss of the customer was disappointing "nothing's changed about the validity of wooden pallets, they remain an ideal form for transporting goods through the supply chain."
The spokesman confirmed the PepsiCo units accounted for less than 5% of revenue from its CHEP Americas division.
At 0125 GMT, Brambles shares were down 7.3% at A$5.24.
-By Bill Lindsay, Dow Jones Newswires; 61-2-8272-4694; bill.lindsay@ dowjones.com
http://money.cnn.com/news/newsfeeds/articles/djf500/200903242143DOWJONESDJONLINE000678_FORTUNE5.htm
SYDNEY -(Dow Jones)- Global logistics firm Brambles Ltd....
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