USA 2015 has been a year of strong organic growth for AAK USA as we positioned ourselves as the co-development partner for food manufacturers in the Bakery, Dairy and Chocolate & Confectionery Fats segments. With the pending removal of partially hydrogenated vegetable oils (“PHVOs”) in the USA, AAK is very well positioned to provide PHVO free solutions to our customers in the Bakery, Dairy and Chocolate & Confectionery Fats segments in the coming year. In addition, we experienced strong growth in certain non-food segments. Personal Care continues to grow with numerous new product launches in skin care, hair care and sun care applications formulated using AAK’s speciality shea based solutions. Candles produced with AAK’s solutions have made a major impact with retailers, appealing to the “green” and sustainable nature of vegetable wax versus petroleum wax based solutions. Finally, following significant investments in 2014, AAK has continued to strengthen its position in Foodservice via Oasis Foods where our dressings, sauces and mayonnaise products for restaurants have become standards of excellence in the Northeast and Mid-Atlantic states. Asia Despite difficult geopolitical conditions, primarily in Turkey and parts of the Middle East, 2015 has been a good year for the region. During the year, the management for AAK’s operations in Asia has relocated from Scandinavia to Singapore to further strengthen AAK’s presence in the Asian market. AAK’s office for sourcing and trading activities, which was already in place in Singapore, also contributed positively to the development of the company during 2015. AAK Kamani, which was formed when we in September 2015 acquired 51 percent of the Indian company Kamani Oil Industries Pvt Ltd., has initially shown a positive development and the integration of the company is proceeding according to plan. Our new company in Japan, AAK Miyoshi JP, which was formed together with Miyoshi Oils & Fats Co. in late 2015, will start up during 2016. The construction of a new factory in Zhangjiagang, China is developing nicely and our customers very much look forward to the start-up of the plant, scheduled for the second half of 2016. Fully utilized the plant will increase AAK’s total capacity by approximately 100,000 MT.
AAK Annual Report 2015
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