May 1, 2003 12:00 PM

IFCO Systems has signed a long-term pallet supply and management agreement with Exel, a third-party logistics company. The company was selected based on its previous success servicing various Exel locations and its ability to provide a single-source system for all Exel operating locations in the United States and Canada.

According to the agreement, IFCO will supply various sizes and styles of pallets to Exel's more than 150 operating locations and subsidiaries. It also will provide surplus pallet removal and disposal service. All purchase and retrieval transactions will be recorded, and Exel will receive regular, consolidated activity statements.

Exel pallet activity is recorded daily via IFCO's Internet-based PalTrax System. Pallet activity can be viewed at any time via this online system, allowing Exel and IFCO to better manage pallet assets. With this proprietary system, Exel has the option of viewing pallet activity by individual location, or in summary, and can access management reports at any time.