Seneca Foods Corporation Selects U.S. Bank Retirement Plan
MINNEAPOLIS, MN, February 4, 2003 -- Seneca Foods Corporation has selected U.S. Bank's Retirement Solution to assist the company with its 401k retirement plan for its employees. Seneca Foods corporate headquarters is located in Marion, New York.
Retirement Solution is a fully bundled 401k retirement plan product that offers flexibility and customization, funds for every style of investor, and technological advancements while easing the administrative burden.
"We chose U.S. Bank because of its expertise and commitment to the food sector for companies like Seneca, and we feel confident in U.S. Bank's abilities to provide excellent customer service," said Philip Paras, CFO of Seneca Foods Corporation.
"Seneca Foods is a loyal client of U.S. Bank and has the majority of its processing facilities located in part of U.S. Bank's market area - Minnesota, Wisconsin, Idaho and Washington," said David Bodine, vice president and market manager for U.S. Bank Institutional Trust & Custody. "U.S. Bank's Food & Agribusiness Group referred Seneca Foods to the Institutional Trust & Custody division."
Seneca Foods Corporation is primarily a major vegetable processing company with facilities located in prime growing regions across the United States. Its products are sold under the Libby's(R), Aunt Nellie's Farm Kitchen and Seneca labels as well as through the private label and industrial markets. In addition, under an alliance with General Mills Operations, Inc., a successor to the Pillsbury Company and a subsidiary of General Mills, Inc., Seneca produces canned and frozen vegetables which are sold by General Mills Operations, Inc., under the Green Giant(R) label. Seneca's common stock is traded on NASDAQ National Stock Market under the symbols "SENEA" and "SENEB".
U.S. Bank Institutional Trust & Custody is a division of U.S. Bank N.A. that focuses on retirement, investment and custody services to institutional clients. Its product offerings include retirement plans (401k, profit sharing or money purchase pension plans), institutional custody and master trust services.
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