Document:

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                                                                   Exhibit 10.27

                              English Translation

                    MANAGING DIRECTOR EMPLOYMENT AGREEMENT

between
MTS Oklologistik GmbH, Zugspitze 15, 62 049 Pullach here represented by its
shareholder IFCO Systems N.V. the latter represented by its managing director
Dr. Willy von Becker

- hereinafter "the Company" -

and
Mr. Klaus Hufnagel, Denninger Strasse 164, 81927 Munchen

              - hereinafter "Managing Director" -

I.  Position

(1)  Mr. Hufnagel is appointed with corresponding shareholder resolution as
     Spokesman of the Management of the Company.

(2)  His area of duties shall comprises the management of the transactions of
     the Company, according to the stipulation of the law, the regulations of
     the Company Agreement and the instructions of the Shareholders' Meeting and
     can, alongside this, from time to time at the request of the Shareholders'
     Meeting extend to the support of its intercompany objectives, to the
     fulfilment of other duties and the taking over of further areas of
     responsibility within the framework of the Schoeller group.

(3)  Rules of Procedure to be decreed by the Shareholders' Meeting and at any
     time alterable can regulate the scope of the authority of the Management
     internally, and the allocation of duties and areas of responsibility and
     the distribution of duties and competence of several managing directors of
     the Company between each other which, in its currently valid version,
     shall be part of the Agreement.

(4)  The Spokesman of the Management shall report currently to Messrs Martin
     Schoeller and Christoph Schoeller (representatives of the Shareholders'
     Meeting).

(5)  The working hours shall be directed according to the business requirements
     and shall amount to 40 hours per week. The Managing Director declares his
     preparedness to carry out any additional work and overtime which becomes
     operationally necessary including Saturdays, Sundays and public holidays
     and travelling time arising through travelling activities.

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(6)  The place of work shall be the head office of the Company in Pullach,
     Zugspitze 15. In case of business requirement, the Managing Director shall
     also be prepared to move to another German town/city whereby the Company
     shall take over the removal costs on presentation verification.

(7)  All actions and transactions outside the current business operations and
     the transactions contained in appendix 1 shall require the prior written
     approval of the Shareholders' Meeting or the representatives of the
     Shareholders' Meeting according to no. II (4).. Further restrictions in the
     internal relationship and revocation of the appointment can be resolved at
     any time by the Shareholders' Meeting. In the internal relationship, the
     Spokesman of the Management shall always require a second signature, i.e.
     the signature of another managing director or a "Prokurist" (Executive
     employee with special power of attorney) even if he has been granted the
     authority of sole representation.

II.   Remuneration

(1)  The Spokesman of the management shall receive an annual gross salary of DM
     300 000 (basic salary) payable in twelve equal monthly instalments each at
     the end of a month.

(2)  In addition to the basic salary according to the above paragraph (1), the
     Spokesman of the Management shall receive a variable remuneration dependent
     on success according to the stipulation of the bonus plan to be determined
     annually by the Shareholders' Meeting. The bonus decisive at commencement
     of the agreement shall be a significant part of this agreement and
     envisages the following:

     The maximum achievable annual bonus shall be DM 150 000 and is composed to
     50% of stock options on stock exchange quotation of IFCO Systems and to 50%
     from a result/target-dependent amount. The details of the stock options
     shall be negotiated separately. The result/target-dependent bonus share
     shall be directed to 20% to the result of IFCO Systems and to 80% to the
     result of MTS/the personal objectives.

     For the first year of the Agreement (2000), a bonus of 80% of the total
     amount of DM 150 000 shall be guaranteed whereby in the year 2000 DM 50 000
     from the guaranteed bonus together with the monthly basic salary from the
     Company shall be paid out proportional to time.

     For the second year of this agreement (2001) a bonus of a total of DM 50
     000 shall be guaranteed by the Company which shall also be paid out monthly
     with the basic salary and shall be counted in the payment of the total
     bonus due to the Spokesman of the Management.

     From the third year of the Agreement (2002), no part of the bonus shall be
     guaranteed by the Company. A mid-year advance payment of DM 50 000 shall be
     paid on the total bonus. This advance payment shall be paid out monthly
     proportionally with the basic salary and shall be counted in the payment of
     the total bonus due to the Spokesman of the Management.

     The not guaranteed part of the bonus shall be paid out at the latest 3

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     months after expiry of each business year of the Company as far as the
     claim of the Spokesman of the Management to payment of the not guaranteed
     bonus exists.

     For the claim to the not guaranteed target remuneration, only the
     achievement of the objectives is of significance, not, however, whether the
     decisions of the Spokesman of the Management were veritably the cause for
     the achievement of targets. On the other hand, there shall be no claim on
     the part of the Spokesman of the Management to not guaranteed target
     remuneration if he has not achieved the objectives set wholly or partly due
     to the decisions of the Shareholders' Meeting, e.g. on alteration to or
     removal of products or distribution channels.

(3)  The Company shall take over a contribution to the voluntary health
     insurance and statutory nursing insurance of the Spokesman of the
     Management amounting to the statutory employer share, a maximum, however,
     of the employer share taking the national insurance system as basis. This
     contribution shall be paid out in addition to the monthly basic salary.

(4)  The Company shall grant the Spokesman of the Management from the first full
     month of employment asset-creating payments amounting to DM 52.00 monthly.

(5)  Remuneration according to paragraph (1) shall be reviewed every 1.5 years.

III  Illness/Insurance

(1)  The Managing Director shall inform the representative of the Shareholders'
     Meeting without delay about any illness and, in case of illness lasting for
     more than 3 days, present a doctor's certificate from which the incapacity
     to work and the probable duration of the illness can be seen. The Managing
     Director shall thereby draw the attention of any co-managing directors and
     the representative of the Shareholders' Meeting to matters which have to be
     attended to urgently.

(2)  In the case of blameless illness or incapacity to work preventing the
     carrying out of his duties, the Spokesman of the Management shall have
     claim to continued payment of the basic salary plus the guaranteed bonus,
     the advance payment on the bonus from the year 2002 and the contribution to
     the voluntary health insurance and the statutory nursing care according to
     nos. II (1), (2) and (3) for the duration of six (6) months.

(3)  If the Company has a company old-age pension scheme, the Spokesman of the
     Management shall participate - as long as nothing else is agreed.

(1)  The company shall conclude an accident insurance for the Spokesman of the
     Management which shall insure him against business or private accident
     amounting to DM 500 000 for the case of death and DM 1 000 000 in case of
     invalidity.

(2)  The Company shall take over the costs of the existing direct insurance of
     the Spokesman of the Management amounting to DM 3408.00 p.a.

IV.  Travelling Costs/Company Car

(1)  The Company shall refund the Managing Director all verified travelling
     costs in accordance with the currently valid establishment or travelling
     cost guidelines of the Company and the currently valid legal German tax
     guidelines.

(2)  As far as in any establishment or travelling costs guidelines of the
     Company nothing else is determined, the Managing Director shall be
     entitled to use the 1st class for rail travel and the business class for
     air travel.

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(3)  Should the expenses paid exceed the lump-sum amount permitted by the tax
     regulations, the Managing Director shall verify the amounts in detail by
     means of correct dockets and invoices.

(4)  The Company shall provide the Spokesman of the Management in accordance
     with the stipulation of the currently valid company car guidelines with a
     car of a purchase price of DM 90 000 for private and business use and shall
     bear all costs arising for this both for business and for private use. The
     Spokesman of the Management shall bear the income tax incurred by the
     private share of the use. In the case of release of further activities in
     accordance with no. VIII (3), the obligation of the Company to provision of
     the car falls away and the Spokesman of the Management undertakes to return
     the car to the Company on first demand by the Company.

V.   Holidays

(1)  The Managing Director shall have claim to annual holiday of 30 working days
     which, in case of employment for less than a full year, shall be granted
     proportionally. Working days are all calendar days with the exception of
     Saturdays, Sundays and statutory holidays at the head office of the
     Company.

(2)  The Managing Director shall orientate the point of time and duration of
     holidays to company interests and co-ordinate it reasonably in advance with
     the representative of the Shareholders' Meeting and any co-managing
     directors.

VI.  Ancillary Employment/Prohibition of Competition

(1)  The Managing Director shall devote his complete working capacity to the
     Company and foster its interests. Any other remunerative employment or
     participation in other companies of any type shall require the approval of
     the Shareholders' Meeting. This is not the case for the customary purchase
     of shares or other business shares for the purposes of investment. The
     membership in representative supervisory bodies of other companies also
     requires the prior approval of the Shareholders' Meeting. The Company shall
     grant approval when the ancillary employment does not impair the work
     performance of the Spokesman of the Management within the framework of this
     agreement and other justified company interests of the Employers are not
     impaired.

(2)  In addition, the parties agree the following subsequent prohibition of
     competition which shall only become effective if no termination of the
     employment relationship is pronounced during the trial period:

(a)  The Managing Director undertakes, during his employment and for the
     duration of 24 months after termination of the employment relationship, not
     to carry out competitive activities in any form either of a self-employed
     nature or as an entrepreneur, nor non-independently or as employee either
     directly or indirectly through participation. Competitive activity in the
     sense of this provision is all activity which has to do with competitive
     products and/or which refer to a target market of the Company or associated
     enterprise. Associated enterprises in the sense of sub-paragraph (a) are
     companies for which the Managing Director has had management responsibility
     in the last two years before termination of his employment. Competitive
     products are products, developments or services which are similar to the
     products, developments or services or are in competition with the products,
     developments or services which the Company or associated enterprises have
     manufactured, developed, licensed, distributed or actively planned (and at
     least passed a corresponding resolution) in the last two years before
     termination of the employment of the Managing Director. Competitive
     products are in particular all products, developments or services which
     concern dual-use packaging systems. The target market of the Company or
     associate enterprises is any market sector, any market segment or customer
     and/or supplier group with which the Company or associated enterprises have
     had a business relationship in the last two years before termination of the
     employment or built up or actively planned a business relationship.
     Competitive activity is in particular any activity for the enterprises
     Chep, Steco, BPS, Delbrouck, Compac, Linpak, Cramer, Hays and all
     enterprises active in the MTV amalgamation and their associated companies
     as far as the Managing Director does not inform Company in writing about
     the taking up of such an activity and verify the he, in this company, works
     in a separate department and has exclusively to do with other products,
     developments or services than the competitive products. Competitive
     activities in the sense of this provision are all activities in the fields
     in which the Company is active. Fields of activities of the Company are:

-    the letting of dual-use transport containers in particular for fruit,
     vegetables, fish, meat and other fresh foodstuffs;

-    the operation of other dual-use transport systems and the packaging and
     further letting of these systems;

-    the provision of services in the winding up of dual-use pools:

-    the organisation of pools (of dual-use transport systems) and the provision
     of services which are in connection with this in particular washing
     services.

-
     Competitive products are, in particular, all products, developments and
     services which concern the dual-use packaging systems.

(b)  The prohibition of competition extends spatially also to all countries in
     which the Company is active at the point of times of resignation of the
     Spokesman of the Management.

(c)  For the duration of the prohibition of competition subsequent to the
     contract, the Company undertakes to pay the Spokesman of the Management
     compensation amounting to half of the last payments made in accordance with
     this agreement, in particular of the basic salary and the bonus, for
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     each year of prohibition,.

(d)  The Company can, before expiry of the employment relationship, waive
     adherence to the prohibition of competition subsequent to the contract by
     means of written declaration towards the Managing Director. In this case
     the obligation to payment of compensation ends after 12 months after
     declaration of the waiver.

(e)  Sections 74 et seq. HGB are valid in addition.

(f)  In the case of exceptional termination of the employment relationship for
     good cause, the contractual party justified to termination shall have the
     right to cancel the prohibition of competition by means of written
     declaration towards the other party within one month after receipt of the
     exceptional termination. Compensation in the case of dissociation is not
     indebted.

VII.  Secrecy, Inventions, Copyright and other Protective Rights, Return of
      Documents

(1)   The Managing Director is obliged, in particular also in the period
      following termination of this service agreement, to keep secret all
      confidential information about the business of the contractual
      relationships, conclusions, transactions or special matters concerning
      the Company or associated enterprises and not to use this information
      for his own or the use of others.

(2)   Publication and lectures which affect the field of business of the Company
      or of other associated enterprises require the prior approval of the
      Shareholders' Meeting.

VIII.  Term

(1)  This Agreement shall commence on 01/02/2000 and is valid for an
     undetermined period. Both parties can terminate the agreement at 6 months'
     notice with effect from the expiry of a calendar year.

(2)  The right to exceptional termination remains unaffected.

(3)  The Company is entitled to release the Spokesman of the Management during
     the term of this agreement from further activities in particular in the
     case of his suspension or dismissal as Managing Director whereby the
     Managing Director shall only have claim to continued payment of his basic
     salary plus the guaranteed bonus. Advance payment on the bonus from the
     year 2002 and the contribution to the voluntary health insurance and the
     statutory nursing insurance according to no. II (1), (2) and (3). (?
     original not grammatically complete - translator's note).

IX.  Diverse

(1)  This Agreement replaces all previous agreements concerning the service
     relationship. Any previous employment relationship shall be regarded at the
     latest on expiry of the last day before commencement of this agreement as
     being terminated and shall also not exist as dormant work relationship.

(2)  This agreement is subject to the law of the Federal Republic of Germany.
     The place of jurisdiction shall be Munich, District Court Munich I.

(3)  The place of fulfilment for the duties of both parties shall be the head
     office of the Company.

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(4)  For the case that one regulation of this Agreement, taking into
     consideration applicable law, be or become ineffective or unenforceable,
     this should not lead to the fact that the complete agreement is ineffective
     or unenforceable. The regulation shall rather be altered and interpreted in
     such a manner that the original objective of such an ineffective or
     unenforceable provision can be achieved within the framework of applicable
     law and jurisdiction. The same is the case for loopholes in the agreement.

Amsterdam, 21/12/1999                           Munich, 23/12/1999

MTS Okologistik GmbH
represented here by its shareholder
IFCO Systems N.V,
the latter represented by its Managing Director Dr. Willy von Becker

/s/ Klaus Hufnagel                               /s/ Willy von Becker
(signature)                                      (Managing Director)

(Klaus Hufnagel)<PAGE>

                                                                   EXHIBIT 10.28

                              English Translation
                      Supplementary Agreement

              to the Consultancy Agreement of January 30, 1998

                         between

                  IFCO Europe Beteiligungs GmbH

            - hereinafter referred to below as the "Company" -

                           and

                      Dr.  Willy von Becker

A consultancy agreement was concluded by the parties on January 30, 1998 with a
term up to March 31, 1999.  Supplementary to the aforesaid consultancy
agreement, the parties hereby agree as follows for continuing the contractual
relationship:

Re I.  Duties and Obligations / Contract Term

      The scope of consultancy services shall amount to 3 man days per week
      for 47 weeks a year.  The aforesaid scope of consultancy services is
      hereby formally agreed.

      Should the Company require additional consultancy service days, it
      may commission them in writing for a fee of DM 1,200 per day after
      prior agreement with the Consultant.

      The contractual relationship may be terminated for the first time in
      Week 25 (calendar week 43/1999) with preliminary notice of 8 weeks
      (calendar week 35/1999).

Re II.  Compensation

      The Consultant shall receive a fee of DM 1,200 per day for his
      services.
      (Example: 3 x 47 x DM 1,200 = DM 169,000 for I year).

      No holiday or public holidays shall be paid.

      The Consultant shall receive a 50:50 bonus for the "EU Support" and
      "SAP" projects, the amount and basis of which shall be agreed
      separately.

Pullach,  June 28, 1999

/s/ Dr. Willy von Becker
Dr. Willy von Becker

/s/ Martin Schoeller          /s/ Christoph Schoeller
Martin Schoeller              Christoph Schoeller
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            Annex to the Supplementary Agreement of June 28, 1999

              to the Consultancy Agreement of January 30, 1998

                              between

                     IFCO Europe Beteiligungs GmbH

          - hereinafter referred to below as the "Company" -

                                and

                        Dr.  Willy von Becker

                           Bonus Agreement

The Company shall pay a bonus to Dr. Becker based on the following conditions:

1)  SAP Project for the IFCO Group

    A bonus of DM 15,000 shall be paid for the SAP Project if the following
    objectives are reached in full:

    a)  Budget compliance in accordance with the SAP contract of March 31,
        1999 (cf.  Annex 1)

    b)  SAP implementation, i.e. if the F1, SD, MM and HR modules can be
        used by the IFCO Group error-free with effect from January 1, 2000.

    c)  Customizing by means of the change request procedure (cf.  Page 4 of
        the SAP contract of March 31, 1999) is not included in Section a)
        above.

2)  EC Support

    Dr. von Becker shall receive 3 % commission on the net support funds a
    fonds perdu for the IFCO Group, less the costs incurred for the aforesaid.

The bonus under 1) and 2) above shall amount to a maximum of DM 30,000.

Pullach, June 28, 1999

/s/ Dr. Willy von Becker
Dr. Willy von Becker

/s/ Martin Schoeller        /s/ Christoph Schoeller
Martin Schoeller            Christoph Schoeller
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                      Consultancy Agreement

The following Consultancy Agreement is hereby concluded

between

IFCO Europe Beteiligungs GmbH, in formation

    - hereinafter also referred to as the Company" -

and Dr. Willy von Becker:

I.  Duties and Obligations

    1.  Dr. von Becker shall assist the management of the Company and shall
        service the requirements of IFCO's activities in Europe as Controller.
        His duties and responsibilities shall particularly include planning
        and analysis as well, including budgeting, deviation analyses and
        business development.  Above all, Dr. von Becker shall be also be
        responsible for reporting to the stockholders based on US standards.

    2.  Dr. von Becker shall report directly to the management of the Company.

    3.  Dr. von Becker shall implement an integrated software for the whole
        IFCO Group as project manager.

    4.  The scope of consultancy services shall be 4 man days per week.

I.  Contract Term

    1.  The contract shall commence on April 1, 1998 and shall end on March
        31, 1999.

    2.  The Company shall be entitled to prolong the contract by 1 year up to
        February 28, 1999 on the same conditions.

II.  Compensation

    1.  As compensation for his work, Dr. von Becker shall receive a fee of DM
        17,500 per month, plus statutory value-added tax.

    2.  Based on the contract term of 12 months, he shall be released from
        duties for 4 calendar weeks with continued payment of his consultancy
        fee.

III.  Reimbursement of Expenses

      Expenses incurred on business travel made in the interests of the
      Company shall be reimbursed to the Consultant upon submission of
      appropriate vouchers and documentation.  The Consultant shall be
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      entitled to charge DM 0.65 per km for business travel with a motor
      vehicle.

IV.  Secrecy/Records

     1.  The Consultant shall be obliged observe secrecy towards third parties
         on all operational and business matters of the Company.  The
         aforesaid obligation shall also apply after he has ceased to work for
         the company.  Dr. von Becker shall also be obliged to observe the
         principles for exercising the consultancy profession as laid down by
         the Association of German Consultants (BDU).

     2.  When he ceases to work for the Company, Dr. von Becker shall be
         obliged to return all documents, correspondence and records, etc.,
         relating to the affairs of the company.

VI.  Ancillary Agreements and Contract Amendments

     No verbal ancillary agreements have been made.  All amendments and
     supplements to the present contract must be made in writing in order to
     be valid.

VII.  Final Provisions

      1.  If individual provisions of the present contract are or become
          invalid, the validity of the other provisions shall remain in full
          force and effect.  The parties shall undertake to replace the
          invalid provision by a valid provision which comes as close as
          possible to the original economic intention of the invalid
          provision.

      2.  All amendments and supplements relating to the present contract must
          be made in writing in order to be valid.  This shall also apply to
          any rescission of the written form requirement.

Munich, January 30, 1998

/s/ Dr. Willy von Becker
Dr. Willy von Becker

/s/ Martn Schoeller         /s/ Christoph Schoeller
Martin Schoeller            Christoph Schoeller

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