MARION, N.Y., Aug. 04, 2016 (GLOBE NEWSWIRE) -- Monsanto Company (NYSE:MON) and Seneca Foods Corporation (NASDAQ:SENEA) (NASDAQ:SENEB) announced today a 10-year tolling agreement for vegetable large seed processing operations in the United States. Large seed refers to vegetable crops such as peas, beans and sweet corn, and manufacturing services provided by Seneca will include receiving, conditioning and treating, as well as packaging, storage and demand fulfillment of Monsanto’s vegetable seed products.
As a part of the agreement, which is effective immediately, Seneca purchased Monsanto's vegetable seed processing facility in Nampa, Idaho, extending employment opportunities to all manufacturing employees currently employed at the site.
“We believe this agreement will deliver improved efficiencies for both companies by combining our seed processing volumes,” stated Kraig Kayser, Seneca Foods’ President and CEO. “Like Seneca, Monsanto is a company defined by employees committed to supporting farmers and agriculture throughout the world. I’m proud to welcome the Nampa team as the newest members of our organization.”
Vegetable large seed processing operations at Monsanto's site in Warden, Washington, will transfer to Seneca’s facility in Dayton, Washington. The transition will take place over the next few months, with Monsanto expecting its Warden site to cease operations by the end of calendar year 2016.
About Seneca Foods Corporation
Seneca Foods is North America’s leading provider of packaged fruits and vegetables, with facilities located throughout the United States. Its high quality products are primarily sourced from over 2,000 American farms. Seneca holds the largest share of the retail private label, food service, and export canned vegetable markets, distributing to over 90 countries. Products are also sold under the highly regarded brands of Libby’s®, Cherryman®, Aunt Nellie’s®, READ®, Seneca Farms® and Seneca labels, including Seneca snack chips. Seneca’s common stock is traded on the Nasdaq Global Stock Market under the symbols “SENEA” and “SENEB”. SENEA is included the S&P SmallCap 600, Russell 2000 and Russell 3000 indices.
Monsanto is committed to bringing a broad range of solutions to help nourish our growing world. We produce seeds for fruits, vegetables and key crops – such as corn, soybeans, and cotton – that help farmers have better harvests while using water and other important resources more efficiently. We work to find sustainable solutions for soil health, help farmers use data to improve farming practices and conserve natural resources, and provide crop protection products to minimize damage from pests and disease. Through programs and partnerships, we collaborate with farmers, researchers, nonprofit organizations, universities and others to help tackle some of the world’s biggest challenges. To learn more about Monsanto, our commitments and our more than 20,000 dedicated employees, please visit: discover.monsanto.com and monsanto.com. Follow our business on Twitter® at twitter.com/MonsantoCo, on the company blog, Beyond the Rows® at monsantoblog.com or subscribe to our News Release RSS Feed.
For more information: Seneca Foods Corporation: Timothy J Benjamin, CFO, 315-926-8100 Monsanto Company: Ben Eberle, 314-694-6397
Source:Seneca Foods Corporation