EXEL BUYS INTO ISRAELI LOGISTICS VENTURE OF ZIM AND ZEEVI

EXEL BUYS INTO ISRAELI LOGISTICS VENTURE OF ZIM AND ZEEVI    U.K.-based mega-logistics group Exel will acquire 20 percent of M.P.L. Ltd., an Israeli logistics company previously controlled jointly by Zim Israel Navigation Co. and Zeevi Holdings.
   Zim said that Zim, Exel and Zeevi have signed an agreement creating a joint logistics services enterprise through M.P.L.
   In addition to the financial investment, Exel will assist M.P.L. to market its services to various international companies based in Israel.
   Exel does not have a subsidiary in Israel, where the logistics group is represented by an agent.
   Zim and Exel have an option to increase their holdings in M.P.L. if the company fulfills its business plan targets. The new company's chief executive officer is M. Glick.
   M.P.L., based in “Airport city” near Tel Aviv, operates several logistics centers, with total a covered area of 50,000 square meters. The services include bonded and free warehousing, supply management, value-added services and distribution through the sister company LIAD.