Page 50 - Ameft Journal 2021-III

AAK to optimize its European bakery business The oil and fats specialist, AAK has entered a formal consulta- tion process with union delegates to carry out a production consoli- dation and subsequent closure of its site in Merksem, Belgium. The suggested initiative is in line with the company’s strategy to optimize performance within the Bakery segment to improve cost efficiency and increase competitiveness. The production site in Merksem, Belgium, which employs approxi- mately 100 people, is predomi- nantly a bakery fats plant, mainly producing margarines and short- enings for the industrial market in continental Europe. The proposed consolidation implies a transfer of production from Merksem to AAK’s sites in Hull, United Kingdom and Zaandijk, the Netherlands, after which the site in Merksem would be closed. Johan Westman, President and CEO, AAK Group says, “The proposed production consolidation would opti- mize our Bakery segment in line with our portfolio strategy. We will main- tain our strong presence in the Eu- (Source: AAK) The proposed consolidation implies a transfer of production from Merksem to AAK’s sites in Hull, United Kingdom and Zaandijk, the Netherlands, after which the site in Merksem would be closed. ropean industrial bakery market and continue to support our customers with the same high level of dedica- tion and service.” In order to manage potential additional volumes in Hull and Zaandijk, some production equip- ment would be transferred from Merksem and selective invest- ments would be made. If implemented, the restructur- Johan Westman, President and CEO ing is expected to cause non-recur- ring costs of EUR 30 million (SEK 304 million), for which a provision will be made in the second quarter. EUR 20 million (SEK 203 million) of this is a non-cash flow impact. A closure of the site in Merksem would lead to annual cost reduc- tions and productivity gains of ap- proximately EUR 5 million (SEK 51 million), expected to reach full run rate by the end of 2022. INGREDIENTS fervently embracing the practice of using aquafaba — the starchy liquid from tinned beans — to whip up creams for meringues, macaroons, mousses, and savory delica- cies as well as mayonnaise, creamy dress- ings, and cheese substitutes. “The discovery of the chickpea aqua- faba effect has been a culinary game changer for many vegans,” notes Ron Klein, CEO of ChickP. “The downside is that it still doesn’t present a viable egg substitute in nutritional terms, as it contains only a fraction of the protein of an egg. We took the aquafaba con- cept a leap further and derived that same desired effect from the body of the nutrient dense chickpea isolate.” Future Market insights anticipates the global egg replacement ingredient market will register a CAGR of 5.8% by 2026 reaching an estimated value of US$1.5B as manufacturers meet consumer demands for vegan, veg- etarian, and allergen-free products. Various brands of egg-free mayonnaise and dressings already are available, but many use whey protein concen- trate. Others include various nuts and starches. The former is non-vegan, and all pose allergen risks. While growing environmental awareness is driving a consumer shift towards the adoption of vegan and flexitarian diets, additional factors such as egg shortages, rising prices of eggs, salmonella risks, and various egg-related allergies are also making room for the egg replacement market. “ChickP isolate presents a highly nu- tritious clean-label, plant-based solu- tion to replicating the role of the egg yolk in mayonnaise formulations,” says Itay Dana, VP of Sales and Business Development for ChickP. “Our isolate demonstrates superior foaming capa- bilities due to its high solubility and smooth texture and possesses mini- mal off-notes. This allows us to tailor mayo recipes to the customers’ de- sired requirements and produce a tru- ly creamy product that is visually and organoleptically appealing, without the use of synthetic thickening, textur- izing, or masking agents”, he adds. 50 AMEFT 3 2021 www.ameft.com