Yes, we’ve done a good job managing the business this year. The team is — it’s an exceptional team. It’s an exceptional business. It’s a very broad-based business, supplying a variety of industries. I’ve said this before, to anybody who wants to listen, but when you are on the highway, every time you see a truck go by, there’s a 60% chance that there’s a Signode product in the truck, not a Signode like product, an actual Signode product in that truck. So the transportation industry does not perform without Signode. And so it’s a much more stable business. Yes, it’s economically sensitive. We don’t spend a lot of capital. So our growth is somewhat limited to GDP, but even in a down market, we’ve got some products. The equipment and automation business are very high-margin business.
And in a down consumable market, we’re still delivering equipment and automation for those customers who wish to take cost out of their process. So I’ll leave it at that. I don’t want to sound too defensive, but it’s a very good business.
Phil Ng: Tim, I asked the question incorrectly. I’m just trying to gauge, are you getting to the point where demand and your quoting activity is getting less bad in stabilizing for either aerosol or Transit or…
Timothy Donahue: Okay. I’m sorry. You probably didn’t ask the question poorly. I probably got a little overly defensive, but I would say that in aerosol, no, we’ve not seen quoting activity improve. In Transit, had you asked me this question at the beginning of September, I would have said, no. It felt like the month of September was better in a few markets, especially in the equipment market. But I think that — I have a budget, preliminary budget for Transit. I actually feel better about the budget now than I did a couple of weeks ago. The market can’t stay down for too long. And as I said, the transportation industry can’t operate without Signode. So we are going to see consumables come back and — but in the near-term, we are starting to see a little better traction for equipment and automation.
Phil Ng: Okay. Appreciate the color.
Timothy Donahue: Yes.
Operator: Thank you. Next one is from Michael Roxland from Truist Securities. Your line is open. You may begin.
Unidentified Participant: Yes. Hi, guys. This is actually Nico Pacini (ph) on for Mike Roxland today. I was hoping you could just talk about the cadence of shipments in North America during the quarter from month to month?
Timothy Donahue: I don’t have it in front of me, but I can — just off the top of my head, but I could — I think if you go back to our July transcript, you will see that we told you that April was exceptionally weak. We saw mid-single digit, maybe 6%, 7% growth in May and June. And then I would tell you that each month in the third quarter got progressively better. We probably saw 8% to 9% July, August, and we had a really strong September, leading to 12.5%, 12.6%.
Unidentified Participant: Perfect. Thank you. And then a follow-up. Just you spoke on it briefly earlier about your start-up in the UK, Peterborough, when you said line one in August and was line two starting in October?
Timothy Donahue: Yes. That’s been delayed. We’re probably starting line one now and line two will start in a month or two. We’ve had some electrical and other delays, components and contractor issues. So we’re getting there.
Unidentified Participant: Got it. Perfect. Thank you. That’s it from me.
Timothy Donahue: Thank you very much.
Operator: Thank you. Our next one is from Adam Samuelson from Goldman Sachs. Your line is open. You may begin.
