Modine Manufacturing Co., Racine, Wis., hired Wells Fargo as record keeper for its two 401(k) plans, confirmed Kathleen Powers, vice president, treasurer and investor relations.
Ms. Powers said an RFP was issued as part of the company's regular schedule for reviewing this process.
The current record keeper, Marshall & Ilsley Institutional Trust Co., was invited to rebid and was a finalist along with Fidelity Investments.
A blackout period for participants will begin July 20 and end Aug. 17.
As of Dec. 31, 2010, the Modine 401(k) Retirement Plan for Salaried Employees had $137 million in assets and the Modine 401(k) Retirement Plan for Hourly Employees had $47 million in assets, according to the company's most recent 11-K filing.
