Brief: AAK To Leave Russia

AAK AB (publ)

27/04/2022 10:58

April 27 (Reuters) - AAK AB (publ)  AAK.ST :
    * AAK TO LEAVE RUSSIA
    * RUSSIA MAKES UP FOR SOME 3 PERCENT OF AAK'S VOLUMES, AS
MEASURED
IN METRIC TONS
    * COMMUNICATED A TEMPORARY HALT OF DELIVERIES TO, AND SALES
IN,
RUSSIA
    * PART OF EXIT REFERS TO LEAVING A LOCAL JOINT VENTURE (JV),
IN
WHICH AAK HOLDS A 75 PERCENT STAKE
    * REMAINING HALF OF RUSSIAN VOLUMES ARE IMPORTED TO AND SOLD
VIA
AAK'S RUSSIAN SALES COMPANY,
    * AAK'S RUSSIAN SALES COMPANY, WILL BE CLOSED.
    * MOST OF THESE VOLUMES ARE REPORTED IN BUSINESS AREA
CHOCOLATE &
CONFECTIONERY FATS.
    * JV MAKES UP FOR APPROXIMATELY HALF OF AAK'S VOLUMES IN
COUNTRY
OR 1.5 PERCENT OF GROUP'S TOTAL VOLUMES, AS MEASURED IN METRIC
TONS - MOST OF WHICH ARE REPORTED IN FOOD INGREDIENTS
    * IS NOW WORKING DILIGENTLY TO RE-ROUTE AS MUCH AS POSSIBLE
OF
THIS TO CUSTOMERS IN OTHER GEOGRAPHIES
    * EXIT IS ESTIMATED TO LEAD TO A COST OF SEK 300-350 MILLION
    * ESTIMATES THAT TOTAL IMPACT ON OPERATING PROFIT WILL BE IN
RANGE
OF SEK 75-100 MILLION IN 2022.

Source text for Eikon:  ID:nWkrbzplvv 
Further company coverage:  AAK.ST 

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