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To increase capacity, support existing production
facilities and enable continued growth, AAK acquired
MaasRefinery B.V., a Dutch vegetable oils refinery,
in February 2019. The refinery is located next to a
deep-sea terminal in Rotterdam and has a capacity of
approximately 40,000 MT with room for expansion.
During the same month, we acquired British
foodservice company BD Foods, located in St
Leonards-on-Sea on the south coast of England.
The company is a producer of tailor-made restaurant
quality meal accompaniments and has a portfolio of
over 3,000 products.
In March, we decided on some significant add-on
investments in our production facility in Zhangjiagang,
China – this in order to increase capacity and support
volume growth for, in particular, our Special Nutrition
segment and high-end bakery solutions.
A senior unsecured bond for a total of SEK 500
million with a tenor of five years was issued in March.
In November, another senior unsecured bond for
a total of SEK 500 million, also with a tenor of five
years, was issued. Both bond issues are part of the
MTN program (Medium Term Note) that was established
in November 2018 with a framework amount of
SEK 4,000 million.
In April and May, we further increased our position
in the Indian market by acquiring an additional 13
percent of the shares of AAK Kamani, the joint
venture between AAK and Kamani Oil Industries Pvt
Ltd. that was formed in September 2015. In October,
we acquired an additional 5 percent. AAK now owns
69 percent of AAK Kamani.
In June, we launched AkoPlanet™, a new portfolio
with tailor-made solutions for food manufacturers
developing plant-based alternatives within the meat,
dairy and ice cream segments.
In September, we acquired 80 percent of Soya
International (Europe) Ltd. The UK-based company
focuses on the sourcing, processing and distribution
of non-GMO semi-speciality and speciality lecithins.
Lecithin is a natural emulsifier and a by-product from
the processing of vegetable oils, for example soya
bean oil (picture to the right).
In November, we inaugurated our new Customer
Innovation Center in Richmond, California. The
center, where there will be a particular focus on solutions
for plant-based foods, will further strengthen our
capabilities and customer co-development approach
on the West Coast of the United States.
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