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AAK temporarily halts deliveries to, and sales in, Russia

KARLSHAMN, Sweden, March 4, 2022 /PRNewswire/ -- AAK (publ.) has decided to temporarily halt deliveries to, and sales in, Russia. Even though AAK is a supplier in the food sector, which is not subject to sanctions, it has become very difficult to secure compliance to sanctions related to logistics and trade flows as well as third parties.

AAK has a sales office in Ukraine with approximately 10 employees, whose safety is our main focus. We are in continuous dialogue with them and will do our utmost to ensure their continued safety.

Russia makes up for some 3 percent of AAK's volumes, as measured in metric tons, and Ukraine makes up less than 1 percent. AAK continuously evaluates the situation and will adopt accordingly.

For more information, please contact:

Gabriella Grotte
Head of IR and Corporate Communications
Mobile: +46 737 16 80 01
E-mail: gabriella.grotte@aak.com

The information was submitted for publication at 9:00 p.m. CET on March 3, 2022.

About AAK

Everything AAK does is about Making Better Happen™. We specialize in plant-based oils that are the value-adding ingredients in many of the products people love to consume. We make these products better tasting, healthier, and more sustainable. At the heart of AAK's offer is Customer Co-Development, combining our desire to understand what better means for each customer, with the unique flexibility of our production assets, and a deep knowledge of many products and industries, including Chocolate & Confectionery, Bakery, Dairy, Plant-based Foods, Special Nutrition, Foodservice and Personal Care. Our 4,000 employees support our close collaboration with customers through 25 regional sales offices, 15 dedicated Customer Innovation Centers, and with the support of more than 20 production facilities. Listed on Nasdaq Stockholm and with our headquarters in Malmö, Sweden, AAK has been Making Better Happen for more than 150 years.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/aak-ab/r/aak-temporarily-halts-deliveries-to--and-sales-in--russia,c3518568

The following files are available for download:

Press release (PDF)- https://mb.cision.com/Main/871/3518568/1544096.pdf

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View original content:https://www.prnewswire.com/news-releases/aak-temporarily-halts-deliveries-to-and-sales-in-russia-301495666.html

SOURCE AAK AB