AAK Investing in the Philippines

KARLSHAMN, Sweden, May 31, 2018 /PRNewswire/ --

AAK has decided to invest in a customization plant in the Philippines. The plant will be located on land owned by oils and fats refinery San Pablo Manufacturing Company in Batangas, approximately 100 kilometers south of Manila.

"This investment is important for our geographical expansion and part of our company program The AAK Way", says Torben Friis Lange, President Asia. "This will strengthen our position in yet another important Asian market. The customization plant will be closely located to many of our key customers and offers very good inbound and outbound logistics for the Philippine market."

AAK's main focus will initially be on solutions within Special Nutrition, Chocolate & Confectionery Fats and Dairy but the company will subsequently be able to supply speciality solutions within other segments as well. The presence in the Philippines is also expected to provide opportunities to strengthen AAK's dedicated efforts within sustainable sourcing.

The customization plant will be operational at the end of 2018 after which AAK will continue to explore additional capabilities and opportunities in the Philippine market.

This information was submitted for publication at 4:00 p.m. CET on May 31, 2018.
   
  
AAK is a leading provider of value-adding vegetable oils & fats. Our expertise in lipid technology within foods and special nutrition applications, our wide range of raw materials and our broad process capabilities enable us to develop innovative and value-adding solutions across many industries – Chocolate & Confectionery, Bakery, Dairy, Special Nutrition, Foodservice, Personal Care, and more. AAK's proven expertise is based on more than 140 years of experience within oils & fats. Our unique co-development approach brings our customers' skills and know-how together with our own capabilities and mindset for lasting results. Listed on Nasdaq Stockholm and with our headquarters in Malmö, Sweden, AAK has 20 different production facilities, sales offices in more than 25 countries and more than 3,300 employees. We are AAK – The Co-Development Company.

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SOURCE AAK AB