AAK AB has initiated an arbitration at ICC, International Court of Arbitration
against the company Enzymotec Ltd with respect to certain disputed matters under
the Shareholders’ Agreement entered into on 14 June 2007 regarding the joint
venture company Advanced Lipids AB.
“We are generally very restrictive with taking legal actions and we would not
normally comment publicly on a legal dispute unless formally obliged to do so.
In this case we feel it is called upon due to the fact that Enzymotec has
released information regarding the dispute. It has been and remains AAK’s
preference to amicably reach a settlement with Enzymotec. As our attempts to do
so have proven unsuccessful; AAK has referred the matter to arbitration. The
relevant joint venture business represents only a minor part of the AAK Group as
a whole, but the questions in dispute are in themselves of a fundamental
character to the joint venture and thus important to resolve. We have with the
assistance of legal counsel carefully reviewed our position and believe that our
request is well-founded. The partners of the joint venture are in agreement that
it will be business as usual during the arbitration process and that the dispute
shall mean no disturbance for the customers; the strong customer focus will
continue”, says Fredrik Nilsson, CFO, AAK Group.
For further information, please contact:
Fredrik Nilsson Anders Byström
CFO Director External Accounting & Investor Relations
Phone: + 46 40 627 83 34 Phone: +46 40 627 83 32
Mobile: + 46 708 95 22 21 Mobile: +46 709 88 56 13
AarhusKarlshamn (AAK) is one of the world’s leading producers of high value
-added speciality vegetable oils and fats solutions. These oils and fats
solutions are characterized by a high level of technological content and
innovation. AAK`s solutions are used as substitute for butter-fat and cocoa
butter, trans-free and low saturated solutions but also addressing other
customer needs. AAK has production facilities in Denmark, Mexico, the
Netherlands, Sweden, Great Britain, Uruguay and the US. Further AAK has also
toll manufacturing operations in Russia and Malaysia. The company is organized
in three Business Areas; Food Ingredients, Chocolate and Confectionery Fats and
Technical Products & Feed. AAK’s shares are traded on the NASDAQ OMX, Stockholm,
within the Large Cap segment. Further information on AAK can be found on the
company’s website www.aak.com.
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