MINNEAPOLIS & MARION, N.Y., Feb 4, 2003 (BUSINESS WIRE) -- Seneca Foods
Corporation has selected U.S. Bank's Retirement Solution to assist the company
with its 401(k) retirement plan for its employees. Seneca Foods corporate
headquarters is located in Marion, New York.
Retirement Solution is a fully bundled 401(k) 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
"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
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 (401(k), profit sharing or money
purchase pension plans), institutional custody and master trust services.
U.S. Bancorp (NYSE:USB), with assets in excess of $180 billion, is the 8th
largest financial services holding company in the United States. The company
operates 2,142 banking offices and 4,604 ATMs, and provides a comprehensive line
of banking, brokerage, insurance, investment, mortgage, trust and payment
services products to consumers, businesses and institutions.
U.S. Bancorp is home of the Five Star Service Guarantee which assures customers
of certain key banking benefits and services or customers will be paid for their
inconvenience. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S.
Bancorp on the web at usbank.com.
CONTACT: U.S. Bank Media Relations
Amy Frantti, 612/303-0733
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SOURCE: U.S. Bank