AAK Annual Report 2017

21 sustainable solutions. AAK is in the best position to serve the PDUNHW LQ DQ HI¿FLHQW DQG LQQRYDWLYH ZD\ For AAK Colombia, 2017 was as a year of expansion. Our position in the Colombian market has achieved a strong relevance in the industrial segment, resulting in LPSRUWDQW YROXPH JURZWK ,Q DGGLWLRQ WKH ´7UDGLFLRQDOHV´ channel continues to grow and represents a solid pillar in our go-to-market strategy. AAK Colombia is now viewed as one of the best and most innovative suppliers of oils and fats solutions to the Colombian market. The team has done a remarkable job in developing customer-centric and co-de- veloped solutions. Despite the challenging market conditions in Colombia, our customer base keeps increasing and we hold a very strong innovation pipeline which is laying the foundation for success as a speciality supplier in the country. AAK is committed to the Colombian market and we continu- ously invest in new technologies that will bring value-adding solutions to the market. South Latin America Our new speciality and semi-speciality factory in Jundiaí, %UD]LO KDG LWV ¿UVW IXOO \HDU RI RSHUDWLRQV ZLWK YROXPH UDPS XS progressing as expected. AAK is already recognized as the best value-adding vegetable oils and fats solutions provider in the region. This is based on our strong go-to-market and co-development approach and our close collaboration with customers, driven by the intensive use of our Customer Innovation Center in which we develop solutions together and enhance customer knowledge through AAK Academies. We have successfully extended our coverage into new categories, gaining market shares and delivering organic growth within Bakery, Dairy, and Special Nutrition (primarily Infant Nutrition). We have also started to build capabilities to further develop our Personal Care business in Brazil. We have furthermore invested in new product develop- ment and pilot plant capabilities at our site in Montevideo, Uruguay, which will enable our Customer Innovation team to develop and offer differentiated and value-adding solutions. AAK Uruguay, with its leading position within Chocolate & Confectionery Fats, continued its strong performance, delivering growth in all key markets within the region, Brazil, Argentina and Chile, while simultaneously building up our position as leader in Peru and Bolivia.