AAK Annual Report 2019

5 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 estab- lished 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 solu- tions for plant-based foods, will further strengthen our capabilities and customer co-development approach on the West Coast of the United States. 5