PANASONIC PICKS EXEL IN EUROPE

PANASONIC PICKS EXEL IN EUROPE    Exel, a logistics provider based in the United Kingdom, said on Wednesday that it had negotiated a contract worth $3.9 million to provide logistics services in Europe for Panasonic, the brand name of Matsushita Electrical Industrial Co. Ltd. of Japan.
   Working from a facility in Veghel, Holland, Exel will centralize Panasonic’s distribution activities, including warehousing, all inbound handling of product, picking, packing, storage, customs formalities, packaging and labeling, and registering serial numbers.
   Matsushita, based in Osaka, reported consolidated sales of $61.4 billion for the fiscal year ending March 31, 2001. At that time, the company had 292,000 employees worldwide.
   Exel employs 55,000 people at 1,300 locations in 120 countries.