Ian Davenport Poured Lines: Primer (2006) Collectie Museum Voorlinden, Wassenaar 2 CALDIC ANNUAL REPORT - 2016 Contents Evolve5 Energy and Power Transmission 45 Preface6 Aboard the Africa Mercy Chocolate pulley Caldic at a Glance 8 Our People 48 Our Board Financial Facts Caldic Worldwide 13 14 16 Organic Growth in 2016 18 We are Caldic 8 Ambitions8 QHSE8 New access road at Caldic Deutschland Increasing capacity at Caldic Techniek Raising Caldic Nederland plant to the next level Expanding capacity at Caldic Canada 48 49 50 51 Addresses52 18 18 20 21 Industrial Chemicals 25 Health and Personal Care 33 High purity gas-to-liquid technology Optimizing a beer brewing process New technologies for a better environment Good things happening underfoot Akofa Togbonou Michel van den Heuvel Apiradee Limchairoaj Daniel Trönnberg 45 47 25 26 28 29 Boosting our presence 34 Renewable Chemicals: The Green Alternative 34 Food39 Omega-3 from algae Embracing meat alternatives The evolution of nutritional supplements 40 40 41 Evolve: To change or develop into a better and more advanced state. CONTENTS 3 4 CALDIC ANNUAL REPORT - 2016 Evolve “To develop increasingly, or to cause something or someone to develop increasingly” This year’s theme Evolve has its roots in the Latin word volvere, meaning “to roll” or “to turn around”. According to the Oxford dictionary, current senses stem from a notion of “opening out”, giving rise to the sense “development”. Rushing into things is not our style; we thoroughly think things through before acting. Evolve is a reflection of our solid strategy, representing a long-term vision and a commitment to steady organic growth. We are not just building and expanding on a solid base for ourselves; we are also very much focused on contributing to the ongoing, long-term business success and steady growth of our customers. EVOLVE 5 Preface As we look back on 2016 we can say that it was one of the most fruitful years in the history of our company. Through several acquisitions in the past few years, we significantly expanded our food and chemical activities in North America and Europe. As expected, 2016 was the year when we started to reap the benefits of these acquisitions. Thanks to the commitment and close cooperation among colleagues, the integration of these companies proceeded very smoothly. Apart from this, we continued to pursue our strategy to further stimulate organic growth. We aim to achieve this by working together closely with our partners, drawing on our knowledge and experience, our extensive network, and our ability to continuously innovate as we contribute to their long-term business success. As a company, we emphasize a strategic way of thinking, always conscious of where we are heading, but without losing sight of the everevolving markets we serve. Although we are confident that we are on the right track, we do realize this is no reason for complacency. Evolution is only possible through motion; therefore standing still is simply not an option. By continuously analyzing the market and responding to trends and developments, we know where to spot opportunities and we are always aware of our customers’ needs. With regard to achieving our goals, we maintain a clear focus and have the right tools at our disposal. In order to work from a solid base, we 6 have invested in internal processes to further align our way of working throughout the company and to improve efficiency. As an example, we have continued to install a number of powerful IT tools across our companies. And furthermore, we have launched a new corporate website that truly reflects our corporate identity. Caldic is active in many different markets. To support our growth strategy we decided to focus our efforts for growth on several specific areas in these markets. Within the Industrial market we created a new position: Business Development Director Base Chemicals for Europe, a position that will help us to expand our footprint in Base chemicals and reinforce existing partnerships. CALDIC ANNUAL REPORT - 2016 In Health and Personal Care we increased our brand awareness within the market by exhibiting at the world’s largest pharma trade show, and further emphasized our capabilities as a full service distributor. As for our food related activities, we continued our work with functional food ingredients by experimenting with innovative and healthy ingredients solutions. We are delighted to present our Annual Report 2016. In this report, we have compiled the highlights of the past year. This year’s theme is Evolve. Evolution is the gradual development of something, from a simple to a more complex form. This beautifully covers the path we have chosen and will continue to pursue in the years to come. At Caldic Techniek we invested in our production process, allowing us to work more efficiently and to meet the clients’ expectations even better than we did in the past. We are thankful to all of Caldic’s employees and partners who together contribute to this growth. It goes without saying that we would not have been able to achieve these successes without their knowledge, dedication and professionalism. Together with them we foresee a bright future. PREFACE 7 Caldic at a Glance We are Caldic Caldic is a full-service solution provider for the global Industrial, Health & Personal Care, and Food markets. Our company was established in 1970 and has adhered to a sustainable business model with a long-term vision, an approach that has enabled us to exceed our most ambitious goals. As a privately held company we have continually evolved to stay relevant, innovative, and competitive. That is how we have reached the solid position we occupy today. With entities in Europe, North America and Asia-Pacific, in 2016 we counted among us over a 1,000 colleagues working in 23 companies in 17 countries, distributing via 42 offices, warehouses, application centers, and production and distribution sites. Caldic’s strength lies in its global network combined with local expertise, offering the flexibility to answer local needs and build domestic partnerships. Operating with our own warehouses, production facilities, test centers, and technical expertise, we provide tailored solutions that contribute to our customers’ businesses. If a customer needs a standard product or service we naturally can fulfill this 8 request, but we prefer to deliver something that exceeds their expectations. We do this by listening to our customers, not just by asking them what they need to make their business flourish but also by anticipating and by taking the initiative. We say what we do and we do what we say, we work closely with and for our customers, and we always act with integrity. Ambitions When it comes to our ambitions, we are in no way limited by country borders or markets. We focus primarily on the B2B market, but we maintain a broad perspective and we look beyond products and raw materials. At Caldic we all share a common purpose and a corporate culture. A culture that encourages thinking out of the box and focuses on creative solutions, developed in partnership with our customers and suppliers. We can only build strong, trusting relationships with suppliers, employees and customers by being a reliable and professional partner. A partner for the long term. CALDIC ANNUAL REPORT - 2016 “As a privately held company we have continually evolved to stay relevant, innovative and competitive” QHSE Caldic is committed to the continuous improvement of our standards on Quality, Health, Safety, and the Environment. It is a principle that applies to every employee at every location throughout our company, anywhere in the world. These standards have been established based on the concern CALDIC AT A GLANCE for the quality of our processes, safety and health of our employees, partners and customers, and protection of the environment. They are essential for the successful management and future growth of our business, not to mention the best interests of Caldic’s customers and partners. 9 Maintaining the highest standards on health, safety, and the environment not only ensures that we deliver added value to our partners, but also serves as an incentive in our quest to outperform the competition and to secure our reputation as an evolving, future-oriented company. Naturally, we integrate compliance into our processes, knowing that doing the right thing is also doing the smart thing for our business and our customers. 10 With these standards in mind, business activities are carried out in such a way that any impact on Quality, Health, Safety or Environment is reduced to a minimum. In 2016, we further explored this path by choosing greener energy and alternative bio-based products. And all the while, we were achieving the same high quality as in the past, while either reducing the impact on the environment or switching from traditional raw materials to far more sustainable sources. CALDIC ANNUAL REPORT - 2016 One of these green initiatives is our cooperation with an industrial biotechnology and renewable chemicals company. Thanks to this distribution agreement, we have expanded our portfolio with the introduction of bio-based, high purity n-butanol and acetone. Another activity we undertook in order to contribute to a greener and cleaner environment is the remediation of some of our sites in The Netherlands, France, Belgium and the United Kingdom where we have ceased production. In this remediation program we are using the most advanced techniques to eliminate any existing impact on the environment. Quality and safety are also of extreme importance when it comes to food ingredients. Caldic provides its customers with high quality products by adhering to the best control standards and regulations, such as ISO 22000 and FSSC 22000, overseen by accredited agencies and based on the best management systems. Putting safety procedures to the ultimate test Despite all our efforts to ensure safety, we can never be a hundred percent certain that an incident will never occur at our facilities. On July 19th 2016, while unloading methanol from a ship to the storage tank there was an explosion in one of our methanol storage tanks at Caldic Chemie Europoort (Rotterdam, the Netherlands). Fortunately there were no personal injuries or damage to the environment and within one hour the situation was under control. Not only did our procedure to handle emergency situations prove to work particularly well. Our technical facilities, such as the alarm system and cooling installation proved their value at this crucial moment. A special thanks goes out to our competent employees, who were thoroughly trained and instructed to deal with this type of situation. Because of their professional response under pressure, this incident was handled perfectly and completely in line with both our QHSE standards and the standards prescribed by the authorities. In addition, Caldic pays attention to its surroundings and especially to the residents living near our production sites and facilities. An example of this policy is the construction of a new entrance at the Caldic site in Germany. By purchasing an adjacent plot we removed the traffic flow of chemical products from a residential area, improving safety and the quality of life in our neighborhood. CALDIC AT A GLANCE 11 12 CALDIC ANNUAL REPORT - 2016 Our Board Caldic is based in Rotterdam, the Netherlands. Its organizational structure follows a decentralized model, with executive authority vested in a Board of Directors and oversight authority vested in a Supervisory Board. Board of Directors Mr. O.C. van Caldenborgh Chief Executive Officer Mr. B. Witte Chief Financial Officer Supervisory Board Mr. J.N.A. van Caldenborgh Chairman of the Supervisory Board Mr. R. Willems Member of the Supervisory Board Mr. A.B. van den Ende Member of the Supervisory Board Mr. B. Vree Member of the Supervisory Board OUR BOARD 13 Financial Facts Five Year Summary Balance sheet as at 31 December (x € 1,000) Fixed assets Inventories Receivables Cash and banks Total assets Group equity Provisions Long term liabilities Amount owed to credit institutions Other short term liabilities Total equity and liabilities 20122013201420152016 72,45670,68070,72570,89268.522 67,06562,02759,93165,60470.102 117,930111,528104,599113,689116.538 4,5713,7181,0023,3501.722 262,022247,953236,257253,535256.884 30,47746,19462,74230,78647.057 17,79218,27718,50715,58514.454 0 0 0 516 424 131,394 90,935 70,009 111,718 89.963 82,359 92,547 84,999 94,930 104.986 262,022247,953236,257253,535256.884 Profit and loss account (x € 1,000) 20122013201420152016 Total operating income 644,543729,055692,752715,814752.159 Cost of raw materials 507,299570,930524,630545,494569.179 Gross margin 137,244158,125168,122170,320182.980 Total operating expenses 104,673120,670136,241128,890136.834 Operating result 32,57137,45531,88141,43046.146 Financial income and expenses -1,592-2,510-1,855-1,878-1.940 Result before taxation 30,97934,94530,02639,55244.206 Taxes on income -8,846 -9,953 -9,237 -10,344 -12.374 Result from ordinary activities after taxation 22,13324,99220,78929,20831.832 Minority interests 61 -353000 Result from subsidiaries 0 0 10,297 -475 -160 Result after taxation 22,19424,63931,08628,73331.671 14 CALDIC ANNUAL REPORT - 2016 Other financial data & ratios (x € 1,000) 20122013201420152016 Net interest bearing debt 126,823 87,217 69,007 108,884 88.665 Working capital 102,63681,00879,39784,36381.654 Capital employed 175,092151,688150,122155,255150.176 EBITDA 42,98848,74743,86153,24058.318 Cash flow before financing activities -82,190 48,226 30,276 -28,862 35.244 (in %) Gross margin 21.321.724.323.824.3 Operating margin 5.15.14.65.86.1 Solvency ratio 11.618.626.612.118.3 Return on capital employed 18.624.721.226.730.7 Return on equity 72.853.349.593.367.3 Interest coverage 20.514.917.222.123.8 Net interest bearing debt / EBITDA 2.4 1.8 1.6 1.9 1.4 Depreciations 10.41711.29211.98011.81012.172 Definitions Net interest bearing debt Working capital Capital employed EBITDA Gross margin Operating margin Solvency ratio Return on capital employed Return on equity Interest coverage Net interest bearing debt / EBITDA Long-term liabilities plus Amount owed to credit institutions less Cash and banks Inventories plus Receivables less Other short-term liabilities Working capital plus Fixed assets Operating result plus Depreciations Gross margin as percentage of Total operating income Operating result as percentage of Total operating income Group equity as percentage of Total assets Operating result as percentage of Capital employed Result after taxation as percentage of Group equity Operating result divided by Financial income and expenses Net interest bearing debt divided by EBITDA Several ratio’s have been calculated based on an anualized EBITDA. FINANCIAL FACTS 15 Canada Montreal Toronto Vancouver Caldic Worldwide USA Chicago Los Angeles Offices Warehouses Production Sites Laboratories Test Kitchens Innovation Centres 16 CALDIC ANNUAL REPORT - 2016 The Netherlands Rotterdam Amsterdam Europoort Oudewater Roosendaal England Chesterfield Melton Mowbray Belgium Antwerp Brussels France Clermont-Ferrand Lyon Paris Reims Denmark Copenhagen Hedensted Silkeborg Finland Helsinki Germany Düsseldorf Italy Milan Norway Oslo Spain Barcelona Valencia Sweden Knislinge Malmö China Hongkong Linqu City Nanjing Shanghai Tijanjing Thailand A. Bangor Bangkok Vietnam Ho Chi Minh City New Zealand Auckland 23 17 Companies Countries 38 42 Cities CALDIC WORLDWIDE Sites 17 Organic Growth in 2016 Everything we do reflects a long-term philosophy. At Caldic we make decisions that together lay a solid foundation. This foundation enables us to be successful, not only now but also in the future. We invest in the future by investing in our people, property and in our companies around the world. We believe a solid organization can only exist and evolve by focusing on the future. We continued this strategy throughout 2016, investing in several of our companies and hereby further stimulating organic growth. New access road at Caldic Deutschland After a year of hard work, a new access road for our plant at Caldic Deutschland Chemie B.V. was officially opened. The project comprises a new access road, a new loading ramp, an order pickup area for general cargo, an order pickup area for materials that are categorized as hazardous to the aquatic environment and a multipurpose area for those hazardous materials. The reason for this new access road was that the old entrance gate was located in a Düsseldorf residential area. This new access road has resulted in less traffic, and accordingly a more pleasant living environment in the neighborhood, because all vehicles are now entering the site via an industrial area. Along with those benefits for our neighbors, 18 the project has also resulted in improved safety on-site, as there is a better overview of trucks entering and leaving the facility. Increasing production capacity and efficiency at Caldic Techniek At Caldic Techniek B.V. we noticed an increased demand for both shorter delivery time and smaller production runs. Meeting those needs required more flexibility from our side. A logical move then was to analyze at which points our production process could be improved, with the final goal to CALDIC ANNUAL REPORT - 2016 increase production capacity and efficiency. In response, a new industrial sawing machine was added to the first part of our production line. This new machine is producing less waste and has a higher output, making the process more efficient. While the previous machine had its fair share of breakdowns, we are pleased to report that since the installation of the new sawing machine, no outage has been reported. In the second part of the production process, two rather old conventional machines for reworking the pulleys were replaced by newer ones with ORGANIC GROWTH IN 2016 higher capacity and accuracy as well as greater functionality. One consequence of producing in smaller series is relatively high costs for machine set-up. That is why we invested in a brand new CNC (Computer Numeric Control) turning machine, fully equipped to minimize these setup costs. Since our objective is to become more flexible, we included a function for gear cutting and for special timing pulleys on this machine. With this new turning machine we will expand our product portfolio and we are now able to produce larger products. 19 Our gear cutting machine excels in gear hobbing, cutting until the intended shape and precise dimensions of the teeth are achieved. With a view to increasing output, we also invested in new lubrication technology and tooling. In addition, we improved workplace control and efficiency by adding new storage cabinets for tooling. Thanks to the innovative storage technology we implemented some years ago at Caldic Techniek, we now make the most of the limited space we have. It means more products can be stored with the same amount of floor space, while advanced handling equipment makes retrieval fast and effortless. In order to further improve efficiency we have expanded our storage system with order picking handling and a packing table. By adding these modules to the system, we have created a more logical flow of incoming and outgoing goods. Additionally we have invested in smart software, facilitating batch picking, allowing operators to fulfill multiple orders at the same time and significantly increasing productivity. Raising the Caldic Nederland plant to the next level At our production site in Roosendaal, which forms part of Caldic Nederland, we continued the program of updating our mixing facilities to state-of-the-art technologies. With the changes of the past year and those that will come, we aim to raise the plant to a higher level, facilitating throughput and increasing production capacity. As a result we are already able to offer a wider range of solutions to our customers and suppliers. 20 The existing filling station has been completely renovated, the roof has been replaced and lighting improved where needed. The workspace is now equipped with an excellent ventilation system and a brand new compressor that will supply air precisely as needed to the filling station and pumps. A set of three outer tanks is now ready for use for the storage of, for example, glycerin and for filling intermediate bulk containers. In addition, all sorts of modifications and improvements were undertaken in terms of weighing, dosing and discharging of chemicals. For instance, we further updated our mixing facilities, enabling us to mix larger batches at a time and accordingly, speeding up the process and increasing efficiency. A new weighbridge was built, mounted permanently on a solid foundation with an impermeable floor. This bridge allows us to weigh the vehicles at the site, with the option for registration. CALDIC ANNUAL REPORT - 2016 The entire Roosendaal site is now equipped with new concrete slabs and surrounded by a new fence, with access via two new gateways. On the safety front, we have made an important improvement by connecting the fire alarm and intrusion detection system to an alarm center. By making use of toolboxes, the on-site QHSE manager maintains a dialogue with the team about job instructions, legal requirements and safety aspects. This way of working allows people on the work floor to give direct feedback, which makes it easier to improve work processes and safety at the same time. ORGANIC GROWTH IN 2016 Expanding capacity at Caldic Canada to support a key business partner At the Caldic Canada Inc. site in Vancouver we invested in a liquid sugar packing line. This means that now all Canadian sites have their own manufacturing activities, which increases our overall output. The line is capable of packing 500 gram bottles and four liter jugs. The project was initiated to support one of our key business partners in their efforts to grow their business. Caldic was selected on the basis of our partnership and our high quality operations, reflected in the fact that all sites have achieved the GFSI (Global Food Safety Initiative) Level 2 accreditation. Also through innovation we are able to support further development of their product line in the future. 21 22 23 24 CALDIC ANNUAL REPORT - 2016 Industrial Chemicals At Caldic we have a long history in the supply of chemicals for industrial applications. Over the years, Caldic evolved into a company committed to meeting customer challenges. Not only do we act as a middleman, engaging in the distribution of industrial chemicals, but by working closely with our customers, we develop and deliver an extensive range of innovative technologies and industrial solutions. These solutions can be specific and often quite unique. Think of formulations, packaging, production and storage. Besides Base chemicals we also produce high value Specialty chemicals. Essential products for Coatings and Construction, Plastics and Rubber and Water Treatment form part of our wide product portfolio. High purity gas-to-liquid technology Only the best products are good enough for us at Caldic. We do not only sell commodity products; instead we deliver solutions that comply with our customers’ needs. That is why the development process is so important. Before the implementation of a product, we visit our customers to see how their processes are designed. After elaborate testing and analyzing we present a tailored solution which we implement at a customer’s facility. We then INDUSTRIAL CHEMICALS carefully monitor the results and twist and tweak where needed. Technical support is naturally part of our way of working. A new technology we have introduced is Calstar: a high purity gas-to-liquid (GTL) technology. This innovative fluid technology converts natural gas, the cleanest burning fossil fuel, into high-quality liquid products. The reason natural gas is used is that it is abundant, versatile and affordable. 25 Optimizing a beer brewing process with defoamers GTL products offer a number of advantages. First of all, they are colorless and odorless. Furthermore, unlike crude oil, they contain almost no impurities like sulfur and nitrogen. Because of Calstar’s synthetic composition, we were able to improve the performance of solvents for a wide variety of applications involving raw materials for everyday necessities such as plastics, detergents and cosmetics. GTL is also used in agricultural and burning applications. One of our customers is a producer of wallpaper coverings and Plastisol, a mixture of PVC particles in a liquid plasticizer, used for example as a coating for outdoor applications. This customer needed a product that would save both time and money. In the production process, the customer blended two products manufactured by competitors in order to achieve the optimal technical characteristics required for their products. Not only was this an unwieldy time-consuming process; the quality of the final product was also unacceptably inconsistent. Calstar offered an ideal alternative. Our customer could use Calstar instead of the two products produced by our competitors to achieve the desired characteristics. This resulted in a cost-effective production process, saving our customer both time and money. 26 At first glance it seems peculiar, putting something in fermenting beer to control foam. Of course opinions about whether or not a beer head on a pint is desirable depend on one’s origins, but in general a beer is supposed to have at least a small head of foam. The head improves the flavor and gives off an aroma that enhances the beer-drinking experience. However, in the production process of beer, foaming is an unwanted phenomenon. This is where anti-foaming agents or defoamers prove to be very useful. They prevent beer spills, but they also contribute to the safety of employees. You would not want a kettle of boiling wort foam overflowing! And the good news is: the use of defoamers during the brewing process has absolutely no negative effect on the final product. If it is to your liking, the beer will still have that pearly white head of foam. Three years ago Caldic introduced its range of silicone defoamers under our own Calsil brand. With the Calsil range we focus in part on foodrelated industries, attempting to bridge the gap between the industrial and food-related activities within the Caldic group. The goal here is to learn from one another and inspire each other, emphasizing our out-of-the-box mentality. In 2016, Caldic entered into a strategic partnership, which allowed us to expand our anti-foaming agent portfolio with non-silicone defoamers. We now offer a wide range of products which can be applied to control the complete water cycle within the Food industry. CALDIC ANNUAL REPORT - 2016 One of our customers, a leading player in the Food and Beverages industry, needed a customized defoamer for the beer-brewing process. Brewers are dealing with price increases for raw materials, packaging, and energy, so maintaining a reasonable profit margin is a real challenge. The key is to improve efficiency by finding ways to reduce costs and cut down on waste. This can be accomplished by using process aids such as anti-foaming agents. In close collaboration with our customer, after testing, analyzing and observing their production process, we were able to select the right defoamer, tailored to their specific needs. In this way we contributed to the optimization of their production process and at the same time to a higher grade of food safety. INDUSTRIAL CHEMICALS “Defoamers prevent beer spills, but they also contribute to the safety of employees.” 27 “While people increasingly focus on the quality of the floor, the time required to complete a job is also extremely important.” New technologies for a better environment Sustainability is an important metric, not only for the Industrial market but also for the Health and Personal Care market. The demand for green, sustainable products is growing and we are well aware of the fact that as we exhaust fossil fuel resources, the costs of these fuels is bound to increase. We feel obliged to respond to the energy challenges – indeed, to the challenges of limited resources in general – by searching for 28 alternative resources. We believe that renewable ingredients are essential for the future success of our customers in these evolving sectors. Therefore, in 2016 Caldic entered into a partnership with Green Biologics, an industrial biotechnology and renewable chemicals company based in the United Kingdom. With the distribution agreement we have with Green CALDIC ANNUAL REPORT - 2016 Biologics, we have expanded our product portfolio with bio-based, high purity solvents like acetone and n-butanol, enabling us to serve customers in Europe, Africa and the Middle East. Acetone and n-butanol are used in a number of key markets including coatings, adhesives, sealants and elastomers, household, industrial and institutional cleaners, personal care, food ingredients and energy chemicals. Good things happening underfoot: flooring at the Alfa Romeo Museum in Arese, Italy One of the applications we offer within the field of Construction is an additive for the screed used in flooring. While people certainly – and increasingly – focus on the quality of the floor, the time required to complete a job is also extremely important. That is why we have seen increased demand for special products that address the internal and external factors a floor is exposed to – the quality considerations – while also meeting customer expectations with respect to the very limited drying time of the screed. Consistent with our commitment to meeting the most daunting INDUSTRIAL CHEMICALS challenges, we have developed new solutions that deliver on the demands for quality and fastdrying screed. Thanks to our company in Italy, which is working together closely with Knopp GmbH, a premium supplier of additives for sand and cement screeds, we have become a market leader in providing fast-drying and enhanced floor screed. On one of our most recent projects, we had the privilege to work on the renovation of the Alfa Romeo museum in Arese, Italy. Built on an impressive total surface area of 4,800 m2 spread over six levels, the exhibits trace the design of Alfa Romeo vehicles as they evolved into the models available in today’s market. As part of the extensive reconstruction measures required for the project, various screed works had to be carried out. For this specific case, the renovation of an existing building, we needed to take several factors into account, such as the degree of humidity and the weight and hardness of the screed. Together with our partner we tested and constantly checked for consistent quality standards in order to meet the requirements of our customer and offer them an appropriate solution. 29 30 31 32 CALDIC ANNUAL REPORT - 2016 Health and Personal Care With our experience in the distribution of Base and Specialty chemicals, Caldic has evolved into a serious player in the Health and Personal Care market. With our team of experts who have deep knowledge of what is happening in crucially important markets like Pharma, Personal Care and Detergents and Cleaners, we are constantly monitoring market trends and are on top of every new development in these sectors. Whether it is the reformulation of an existing product or the complex synthesis of new active ingredients, we arrive at innovative solutions that respond to new market demands by working closely with our partners. Over the years we have built a large and solid network encompassing both our own companies as well as partnerships with producers through which we are able to offer an extensive portfolio of synergistic products: from intermediates and excipients to solvents and API’s (Active Pharmaceutical Ingredients). With our local know-how we support our customers in the processing of any raw material or pharmaceutical ingredient and offer the right solution for their specific situation. What truly distinguishes us is the accompanying services we offer, such as handling, testing and certification according to Good Manufacturing Practices (GMP) requirements. Our deep (local) know-how of regulatory and legal requirements is of great importance, as products have to comply HEALTH AND PERSONAL CARE with international safety and quality regulations. Apart from this we have our own White Room Facility, where we process and pack propylene glycol and glycerin, two excipients that are often used in liquid pharmaceutical formulations. This white room guarantees our customer high quality products and precludes the introduction of any contaminants during product processing. We are currently planning to expand these facilities with a White Room intended for flammable products. Here, once again, our goal is to help our customers to meet any challenges they may encounter at all stages in the development and production process, up to and including logistical challenges. 33 Boosting our presence in the Pharmaceutical Industry Because we are aiming to further expand our market share in Health and Personal Care, in October 2016 we exhibited at CPhI Worldwide, the world’s largest Pharma trade show. Every sector of the pharmaceutical market was represented under one roof and an astonishing 42,856 people attended the 27th edition in Barcelona. With our attendance we increased brand awareness within this market, and further emphasized our capabilities as a distributor, offering a wide portfolio of Base chemicals, Specialty products and accompanying services. Attending CPhI Worldwide was a very effective way to establish new business relationships, meet with global partners and keep abreast of the latest trends in the industry. We look back on a very successful first CPhI experience and will attend the next edition. 34 Renewable Chemicals: The Green Alternative From surface coatings to nail polish remover and lipstick, we may not always be aware of them, but chemicals are everywhere. They are used in many products we use on a day-to-day basis. In the past, these chemicals were mainly made from synthetic components. However, as we mentioned in the previous chapter, the market for “green” products is growing, and with that growth, the urgency to develop sustainable alternatives to traditional materials is steadily increasing. Sustainability is an important metric, not only for the Industrial market but also for the Health and Personal Care market. As we noted in the previous chapter, consistent with our intention to offer products based on renewable resources, we have entered into a partnership with Green Biologics. This partnership should help us to deliver sustainable, bio-based products not just to our industrial customers, but to customers in the Health and Personal Care sector as well. CALDIC ANNUAL REPORT - 2016 “Together with our supply partners we aim to move the global economy towards a more sustainable future.” In particular, we are acting as the exclusive Green Biologics European distributor for n-butanol and acetone, both of which are produced through the fermentation of sugars from renewable feedstocks. n-Butanol is a four-carbon alcohol that is a clear, colorless, flammable and neutral liquid with a characteristic banana-like odor. The medium volatility and restricted miscibility in water of n-butanol make it useful as both a solvent and a formulated ingredient in Cosmetic and Personal Care products. Aside from its use as a solvent, alcohol plasticizer, and additive in formulated consumer products, n-butanol is commonly used for the manufacturing of esters utilized for fragrance, skincare and hair care products. Cosmetic products that utilize n-butanol in their formulations include eye makeup, foundations, lipsticks, nail care products, personal hygiene products, shaving creams, and moisturizers. Acetone is a three-carbon symmetrical ketone that is one of the most widely used industrial and laboratory solvents. The compound is a clear, HEALTH AND PERSONAL CARE colorless, flammable, volatile liquid with a low boiling point, recognized for its rapid evaporation and its faint aromatic, sweet odor. A hallmark of acetone’s utility is its absolute miscibility with water and most organic solvents. Additionally, it is increasingly being used as a chemical intermediate for the production of functionalized compounds. While most commonly recognized as a solvent, acetone can be a valuable feedstock for the production of diverse functionalized materials. Direct applications include surface coatings, films, adhesives, cleaning fluids, and laboratory research. Cosmetic products that utilize acetone range from the primary ingredient of some nail polish removers, nail treatments, skin lighteners, and hairspray to personal care products such as wound treatments and foot care. It is safe to say that we expect the use of renewable chemicals to be the standard for the future. Together with our supply partners we aim to move the global economy towards a more sustainable future. 35 Ronald de Bloeme (1971) Kurzstrecke (2011) Collectie Museum Voorlinden, Wassenaar 36 37 38 CALDIC ANNUAL REPORT - 2016 Food Since 2010 Caldic has taken some huge steps forward in the Food business. Before 2010, the majority of our business revolved around chemicals. However, thanks to several strategic acquisitions, nearly half of our revenue is now derived from food-related activities. One of these acquisitions took place in 2015, when we acquired the Danish R2 Group, a renowned company in the Nordic food and chemical markets. The actual integration took place in 2016, with a reorganization of the R2 Group that resulted in the establishment of Caldic Denmark and Caldic Ingredients Denmark. Thanks to the commitment and close cooperation among colleagues who complemented and reinforced each other, it turned out to be a very successful integration. It allowed us to further expand our footprint; we continue to slowly but steadily evolve and to strengthen our position in the food business. An important reason that we have seen success with these strategic acquisitions is that we have made a subtle, but important change to our business model. We came to the conclusion that our previous focus on product groups did not fully meet our needs in today’s environment. That is why we have now created market FOOD specialist teams, consisting of people who know the local trends and client needs like no one else. They are capable of inspiring our customers and suppliers, offering unique solutions instead of standard products. Since the Food market is continuously changing and responding to consumer needs, keeping up with these market trends is simply not enough. People are far more conscious of what they feed themselves and their loved ones than they were ten years ago. Nowadays, it is all about eating and staying healthy. That is why we see growing consumer interest in the healthenhancing roles of specific foods – what experts call functional foods. We want to stay ahead of these developments so we keep close track of these food trends. That way we are able to offer our customers the right solutions at the right time and assist them in responding in a timely fashion to trends with successful new product developments. 39 Omega-3 from algae We often hear that oily fish are a good source of vitamins A and D, and that they are rich in omega-3 fatty acids. For this reason the consumption of oily fish can be beneficial to humans, helping to prevent cardiovascular diseases or reducing the pain caused by inflammatory conditions such as arthritis. It might come as a surprise, but the fact is that even though fish are a rich dietary source of omega-3 oils, they do not synthesize the oils themselves. Fish mainly obtain these oils from the (micro)algae in their diets. So instead of netting and hooking faster than the fish can reproduce and driving entire fish populations to collapse, why not use the original source of these beneficial omega-3 oils? Over the years, algae have sparked interest in the food market. They are seen as a superfood product that is slowly emerging due to their nutritional value, as they are rich in protein, fiber, vitamins, minerals, carotenoids, antioxidants, essential amino acids and fatty acids like omega-3. Since we are constantly in search of viable market niches in which we can find new opportunities for our customers to grow a 40 profitable business, we noticed that functional blends offer the best and most viable solutions. That is why we carried out several experiments with algae powder in the past year. Algae powder is a versatile product that can be used in several applications such as yoghurt drinks, pasta and cookie dough. The challenge with algae is to mask the fishy seaweed taste and create a product that is both visually appealing and feels pleasant in the mouth. This requires the development of innovative product combinations created in our own test kitchens, which we then test thoroughly until we are completely satisfied with the final product. Embracing meat alternatives Conventionally produced meat has quite a number of environmental and health drawbacks. For example, in order to produce one kilogram of boneless beef, a producer needs 6.5 kilograms of grain, 36 kilograms of roughage, and at least 155 liters of water (only for drinking and servicing). Just to produce the feed, on average about 15,300 liters of water is needed. That means that the water footprint of one kilogram of beef comes to a shocking 15,500 liters of water. This is one of the reasons why the appeal for vegan products is expanding beyond the limited group of people who choose not to eat animal products for ethical reasons. These so called flexitarians are seeking healthier, cleaner and greener foods and want to reduce their meat consumption for environmental purposes. Flexitarians, or semi-vegetarians, follow a plantbased diet that is often supplemented with meat substitutes and then, on occasion, meat products. CALDIC ANNUAL REPORT - 2016 A logical step for us was to support product innovation for our customers by offering products that would meet this demand for meat substitutes. Caldic developed whole food concepts to replace hamburgers, meat balls, and sausages with non-meat and vegetable alternatives. Besides single ingredients from our concepts, we also provide complete dry blend solutions to which only water has to be added. Depending on which kind of main source of vegetable protein our customer prefers to use, we can adjust our solutions. For example, we can use texturized plant proteins, vegetables, or bean pulp as a main source for these meat substitutes. Then, for each type of raw ingredient we use we may need a different natural stabilizing solution. In addition we have identified some ingredients in our portfolio that have turned out to be the key to meeting the challenges of delivering satisfactory taste and texture for these vegan and vegetarian applications. For example, in some of the applications water retention is critical for binding the ingredients together (emulsification) and creating an appealing bite. By continuously monitoring the formulation we can, for instance, make a sausage from the very wide range of source materials that our customer may have in mind. The evolution of nutritional supplements There is a notable shift in mindset towards healthier lifestyles built around good nutrition and physical activity. A growing number of consumers, including seniors and millennials, are choosing to incorporate nutrition supplements and products into their regular routines. The FOOD demand for plant-based proteins is on the rise, with ingredients like pea and hemp proteins popping up everywhere – not only in meat alternatives but also in potato chips, nutrition bars and powders for smoothies. On trend, Caldic developed a vegan protein beverage that responded to market demands for sustainability, animal welfare, and allergen awareness, while offering an appealing flavor and performance for mainstream market penetration. Our Vegan Protein Beverage Blend is a functional protein drink designed with caffeine from green tea, a natural source that will provide energy when consumed prior to working out. The beverage was designed with a wide range of carefully selected plant-based proteins derived from materials such as rice, oats and pulses. The synergy between these protein sources delivers a complete range of benefits, such as the promotion of muscle and bone health, lowered blood pressure and a boost to the immune system. In addition, protein is known to induce satiety. Protein beverages are now widely used for their anti-aging, cardiovascular health and weight loss benefits. The Caldic Vegan Protein Beverage can be consumed on-the-go as a pre- and post-workout beverage or simply as part of a meal. 41 42 43 44 CALDIC ANNUAL REPORT - 2016 Energy and Power Transmission At Caldic Techniek, our mission is to find the most economical solution for our customers, working in close cooperation with them to achieve ultimate functionality. Looking at market developments, we see that our customers are changing along with the changing market. As our products and services need to contribute to our customers’ business in the most efficient way possible, it is incumbent upon us to continuously develop ourselves, and that is what we have done. For speedy and timely deliveries to our customers we have implemented a lean order picking system, resulting in doubling our order picking capacity. We have invested in educating our people, so that they are aware of the latest technological developments and are able to deliver unique solutions. In addition, we have invested in several machines over the past year, allowing us to offer our customers the best solutions when it comes to timing belt drives, generators, controls, mechanical power, and conveyor equipment. We deliver, install and offer support when it comes to the most advanced Power Management Systems (PMS) for all sorts of vessels. For example, in 2016 we provided the PMS for a luxurious sailing yacht called Ghost; the yacht’s ambitious owner was planning to sail around the world and anything short of perfection was unacceptable. So when we detected a few flaws that had been overlooked in the preliminary ENERGY AND POWER TRANSMISSION design, we worked in close collaboration with our customer and our PMS supplier to develop and deliver a final customized solution. With this reliable, state-of-the-art system and the ongoing support we provided on location, we managed to make yet another customer happy. Aboard the Africa Mercy Each year the Africa Mercy, the largest nongovernmental hospital ship in the world, visits another African country to provide medical services to the world’s poor. The Africa Mercy has meeting and work spaces as well as berths for an average crew of 450. Volunteers from over 45 nations have served onboard this ship, which was acquired in 1999 and built specifically for Mercy Ships, a global charitable organization. 45 The reason this organization works with ships is because it is the most efficient platform to deliver a hospital to regions where clean water, electricity, medical facilities and personnel are limited or nonexistent. And, because more than fifty percent of the world’s population lives within hundred miles of the coast, Mercy Ships can reach more people in need of medical care. The 80-bed hospital includes five operating theatres, recovery rooms, Intensive Care units, and low dependency wards. Additional facilities include a CT Scanner, X-Ray equipment, laboratory services, a Coolscope for remote diagnosis, and an onboard satellite communication system for the transmission of diagnoses and other data. It is not hard to imagine how a power breakdown would affect this ship. To preclude any kind of electrical outage, marine vessels work with Power Management Systems. 46 A Power Management System controls all elements of the electrical system of a marine vessel, to ensure that it operates safely and efficiently. In the past, the Africa Mercy had regularly suffered from an unstable power supply and that is where Caldic Techniek was able to play a constructive role. We proposed replacement of the malfunctioning PMS with a new system that would be more user-friendly in terms of configuration and day-to-day-use. Our specialist went to Durban, South Africa for ten days for the commissioning and fine-tuning of the system. He spent the first three days making the PMS ready for use and then the remaining days of his stay training the crew. Thanks to this new – and crucially – dependable Power Management System, the Africa Mercy is more effective in helping those that the vessel and its staff serve and is now completely set for the future. CALDIC ANNUAL REPORT - 2016 Chocolate Pulley Another of Caldic Techniek’s activities is the production of timing pulleys. We own and operate several CNC (Computer Numeric Control) production machines equipped with automatic feeding capability and robots for off-loading. With these assets, we can compete on level footing with any player in the field when it comes to both small and large production runs. Apart from these advanced machines, with our conventional machines we can easily modify standard pulleys based on customers’ drawings. These standard pulleys are always at our customers’ disposal thanks to our large warehouse at Caldic Techniek in Rotterdam, the Netherlands. ENERGY AND POWER TRANSMISSION Customers often approach us with matters that require very specific solutions. This was recently the case with a customer in the chocolate industry. Chocolate is quite a sticky product and when it cools down, it hardens, resulting in clotted chocolate. Most of the time this occurs on the tooth side of the pulley, which results in the timing belt slipping off the pulley and the machine jamming. In order to prevent this, Caldic Techniek designed a new type of pulley by modifying the regular pulley design and adding special chambers and channels. In this way, the chocolate – still in liquid state – can be pushed out of the contact area. 47 Our People We operate in 17 countries around the world, with a decentralized structure – thinking globally and acting locally. The diversity of our work force reflects our global footprint. We come from many backgrounds and cultures, with different working styles and personalities. At Caldic, however, we all share a common purpose and a corporate culture. A culture that encourages thinking out of the box and focuses on creative solutions, developed in partnership with our customers and suppliers. We encourage our people to take the initiative and give them a sense of responsibility for the implementation of their ideas. Akofa Togbonou Trainee Caldic Deutschland What are you studying and what is the connection between your studies and the activities of Caldic as a company? I started my apprenticeship at Caldic Deutschland Chemie B.V. in 2014. I’m trained to be a merchant in wholesale and export trade. In Germany the apprenticeship is a mixture of theoretical knowledge in school for two days per week and practical periods in a company. In school they largely follow certain themes, like how to advise customers, how to conduct negotiations, and how to manage logistics. The apprenticeship ends after two and a half years with a written and oral exam at the Chamber of Industry and Commerce. Can you tell us more about your job and the department you are working in? Caldic Deutschland offers a variety of products, which are sold by different divisions. The company is divided into several sales 48 departments: Specialties, Furex, Base Chemicals, Coatings & Plastics, and Water Treatment & Energy. Since May 2016 I have been working at the Coatings & Plastics Department as a Sales Assistant. Our main products are used in the construction, plastics, coatings, and lacquer industries. What have you learned at Caldic? What makes your job so interesting? It’s really interesting to get to know the products and how they make a difference in our everyday life. I’m learning different things step by step. One example is that I got to know the use of titanium dioxide in the lacquer industry. The more titanium dioxide there is in wall paint, the higher the coverage capacity. At the same time, titanium dioxide content influences the price. This is one example on how everyday situations are becoming clear to me. Now, when I’m in a hardware store and I see various types of wall paint and prices I understand the difference. CALDIC ANNUAL REPORT - 2016 Michel van den Heuvel How long have you been working at Caldic and what is your professional background? I started working for Caldic in January 2006 as Logistics Manager and as Port Facility Security Officer in accordance with the ISPS International Ship and Port Facility Security Code. I studied at the Rotterdam Transport College. After my graduation, I worked in the liquid transportation industry, starting as a Sales Manager, and later on as General Manager, where I was responsible for the Benelux, France and the UK. addition, I was attracted by the potential growth of the company. I fill a number of different roles and meet new challenges every day. As Logistics Manager, my team and I have to make sure that our feedstock is available in time to ensure we can continue production without interruption. We also have to ensure that the correct products leave on time and that they are properly packaged, not to mention that we ship them to the right destinations. As the Port Facility Security Officer, I am responsible for the compliance and integrity of our terminal with respect of the ISPS code, a security protocol that was installed after “9/11”. This is mandatory in order to be allowed to receive ocean-going ships. Can you give us an idea about your job at Caldic Chemie Europoort and the people working there? The reason I joined the Caldic Chemie team in Europoort was not only the challenge that this new path could bring me. It was also because I realized that I feel more comfortable working with others on a team. The warm and friendly atmosphere of the entire team made me feel good about the job right from the start. In What motivates you to go to work every day? I like my work a lot, and I’m still learning new things every day. Although our background is different than that of most of the Caldic entities in terms of both the business itself and the volumes involved, we feel strongly connected to the Caldic organization, and I don’t just mean that we share the same logo. My motto is: A day without laughter is a day not being at Caldic! Manager Logistics Caldic Chemie – Europoort OUR PEOPLE 49 Apiradee Limchairoaj Division Manager Automotive Fluids Caldic Thailand How would you describe your career at Caldic Thailand? I have always worked in logistics and supply chain management. In previous jobs I was engaged in sourcing, importation and managing all oversea suppliers. I started working as Supply Chain Manager at Caldic Thailand in December 2013. My current role at Caldic is especially challenging because I am involved on the commercial side as well as with logistics. When I first started working at Caldic, I was responsible for an end-to-end process of brake fluid for one of our key customers. At that point we had just started working with a new blending facility and new filling machine. I took care of all packaging supply, the production plan, transportation and the supply to our customer. One and a half years later, after my first project ended, I was given the responsibility for the management of all automotive customers and the suppliers of raw materials and packaging, which allowed me to see all aspects of the automotive business. Can you tell us more about your job and the team you are working with? I’m responsible for both the supply chain and the commercial part. As we have our own plant 50 producing brake fluids and coolants, one of our advantages is our flexibility to answer the customer’s needs. I have to keep a close eye on the needs of suppliers, customers, and our own production, filling and warehouse teams. My job is to make sure everything runs smoothly at the same time, always according to all requirements. When there is a problem at any point along this chain, it can affect the other parts as well, so it is key to solve the problem as soon as possible. What is a perfect day at Caldic for you? At Caldic Thailand they allow us to come up with new ideas, create new things, make our own decisions and at the same time assume the responsibility for the consequences. That is what makes my job so interesting! I really enjoy finding the right solutions to meet the customers’ needs. Whenever a customer comes to me with new requirements, it is not a matter of “can or can’t we do this?” in my discussions with my colleagues. We talk about the “how” and “what if”. As I have to manage the whole process, I always work closely with all teams: the blending, filling, laboratory and warehouse teams. I listen to their ideas and opinions before making a decision. With this way of working we are constantly evolving as a team. Especially this year we increased our capabilities in many ways, expanding our business into new markets, exporting to neighboring countries, meeting very CALDIC ANNUAL REPORT - 2016 high demand by running production cycles of 24 hours for months on end, and even investing in a new filling machine for greater capacity! When all of these developments succeed and everything is running smoothly, I call it a perfect day! Daniel Trönnberg Machine Operator Caldic Sweden Can you tell us what you did before you started working at Caldic? For 22 years, I worked as a goldsmith. During the last twelve years of my career as a goldsmith, I worked at a small goldsmith company, but I felt like I needed a new challenge. I have always been eager to learn new things and I have always wanted to evolve, not only as a person but also as an employee. I found a new challenge around two and a half years ago at Caldic Sweden, where I started working as a machine operator. What made you decide to work for Caldic? What appealed to me the most was the people working there. Since it is not a massive factory with thousands of employees, I knew that I was going to work on a relatively small team. This was one of the decisive factors and I decided to go for it. It turned out to be the right decision! The people I work with at Caldic are very friendly. OUR PEOPLE We’re quite a close group, always looking out for each other and helping where needed. Can you tell us more about your job as a machine operator? My job is quite multi-faceted, which is another reason I like what I do. As I mentioned before, I need a challenge in my daily tasks, and this is definitely the case at Caldic. My main responsibility is Machine 90, a combined packing machine consisting of two parts. The first machine in the process is a form-, fill- and seal machine in which we are currently packing diet powder. But basically we handle all sorts of ingredients, such as porridge and dried food powder. We pack these powders in small paper bags. Afterwards, these bags are passed on to the end-of-line packing machine, where they are packed in capsules. I supervise the entire packing process: from checking if the stampedon weight and dates are correct to detecting any improperly sealed bags. Besides this I receive orders, check if all necessities for a specific order are in stock and then pick these up with a forklift in our warehouse. On top of that me and my colleagues are responsible for the maintenance and repairs of the machinery. You can imagine that not a single work day is boring! 51 Addresses Europe Caldic B.V. Caldic Ingredients Denmark A/S Caldic Belgium N.V. Caldic Ingredients Denmark A/S Westerlaan 1 3016 CK Rotterdam the Netherlands Phone +31 (0)10 413 64 20 [email protected] Terlochtweg 1 B-2620 Hemiksem Belgium Phone +32 (0)3 870 48 11 [email protected] Caldic Chemie B.V. Westerlaan 1 3016 CK Rotterdam the Netherlands Phone +31 (0)10 413 64 20 [email protected] Caldic Chemie B.V. Merwedeweg 20 3198 LH Europoort Rotterdam the Netherlands Caldic Denmark A/S Odinsvej 23 DK-8722 Hedensted Denmark Phone +45 76 75 21 00 [email protected] 52 Odinsvej 23 DK-8722 Hedensted Denmark Phone +45 76 75 21 00 [email protected] Valhøjs Allé 183 DK-2610 Rødovre Denmark Phone +45 36 72 26 26 [email protected] Caldic Ingredients Denmark A/S Sejlingvej 38 DK-8600 Silkeborg Denmark Phone +45 76 75 21 00 [email protected] Caldic Deutschland Chemie B.V. Am Karlshof 10 40231 Düsseldorf Germany Phone +49 (0) 211 734 60 [email protected] Caldic Finland Oy Lars Sonckin kaari 16 FIN-02600 Espoo Finland Phone +358 (0)207 415991 [email protected] Caldic France S.A.S. Immeuble le Tropical 18 Place des Nymphéas Avenue des Nations C.S. 9005 Villepinte 95926 Roissy Charles des Gaulle Cedex France Phone +33 (0)149 393 500 [email protected] Caldic France S.A.S. Z.I.O.- 34 Rue Emile Druart C.S. 90047 51721 Reims Cedex France Phone +33 (0)326 093 433 Caldic France S.A.S. Z.I.- 8 Rue de l’Industrie B.P. 74 63802 Cournon d’Auvergne Cedex France Phone +33 (0)473 77 55 77 Caldic France S.A.S. Warehouse 7 Rue Jean Rostand BP 338 69745 Genas Cedex France Caldic Ibérica S.L. C/ Llobateres 23-35 E-08210 Barberá Del Vallés Spain Phone +34 93 719 25 61 [email protected] CALDIC ANNUAL REPORT - 2016 Caldic Ibérica S.L. C/ Profesor Beltrán Báguena 4, Despacho 302 E-46009 Valencia Spain Phone +34 961 537 094 Caldic Ingredients B.V. Elzenweg 5 3421 TT Oudewater the Netherlands Phone +31 (0)348 566 666 [email protected] Caldic Italia S.r.l. Via Saronnino 5 I-21040 Origgio (VA) Italy Phone +39 (0)296 39 01 [email protected] Caldic Nederland B.V. Westerlaan 1 3016 CK Rotterdam the Netherlands Phone +31 (0)10 413 64 20 [email protected] Caldic Nederland B.V. Warehouse Moezelhaven 12 1043 AM Amsterdam the Netherlands Caldic Nederland B.V. Warehouse Bosstraat 35 4704 RL Roosendaal the Netherlands Caldic Norway AS Strandveien 15 NO-1366 Lysaker Norway Phone +47 23 24 50 70 [email protected] Caldic Sweden AB Frihamnsallén 7 SE-211 20 Malmö Sweden Phone +46 (0)40 698 1100 [email protected] Caldic Ingredients Sweden AB Frihamnsallén 7 SE-211 20 Malmö Sweden Phone +46 (0)40 698 1100 [email protected] Caldic Ingredients Sweden AB Application Centre Färgeriggatan 3 SE-289 33 Knislinge Sweden Caldic Techniek Belgium N.V. Tollaan 73 1932 Sint Stevens Woluwe Belgium Phone +32 (0)2 720 49 81 [email protected] Caldic Techniek B.V. Schuttevaerweg 60 3044 BB Rotterdam the Netherlands Phone +31 (0)10 415 66 22 [email protected] Caldic (UK) Ltd. Stainsby Close Holmewood Industrial Estate Chesterfield Derbyshire S42 5UG United Kingdom Phone +44 (0)1246 854111 [email protected] Caldic (UK) Ltd. Unit O Asfordby Business Park Welby, Melton Mowbray Leicestershire, LE14 3J United Kingdom [email protected] Caldic Ingredients Sweden AB Warehouse Terminalgatan 15 SE-211 24 Malmö Sweden ADRESSES 53 Asia-Pacific Caldic Hongkong Ltd. 16th floor, Wing on Centre 111 Connaught Road Central Hong Kong Caldic New Zealand Ltd. Level 3 Building 10 666 Great South Road Ellerslie Auckland 1051 New Zealand Phone +64 (0) 27 55 99 330 [email protected] Caldic (Shanghai) Trading Co. Ltd. Block 14, No 585 Jibin Road, Jinhui Town Fexiang District 200122 Shanghai China Phone +86 (0)21508 168 33 [email protected] Caldic (Shanghai) Trading Co. Ltd. No.57 West Wanan Road Jiangning District Nanjing China Caldic (Shanghai) Trading Co. Ltd. Room 601, No 103 Tower A Future Plaza Hexi District 300201 Tijanjing China 54 North America Caldic (Thailand) Ltd. Unit 401 B, 4th Floor, Zuellig House 1-7 Silom Road, Kwaeng Silom Khet Bangrak, Bangkok 10500 Thailand Phone +66 (0)22 3489 18 [email protected] Caldic (Thailand) Ltd. Warehouse Soi Wat Lat Wai Tambon Bang Phriang Amphoe Bang Bo Chang Wat Samut Prakan 10560 Thailand Caldic Vietnam Co. Ltd. 47/6 Pham Ngoc Thach Ward 6 District 3 Ho Chi Minh City Vietnam Phone +84 (0)838 223 709 [email protected] Caldic Canada Inc. (Central) 6980 Creditview Road Mississauga, ON L5N 8E2 Canada Phone +1 (905) 812 7300 [email protected] Caldic Canada Inc. (Western) 1360 Cliveden Avenue Delta, BC V3M 6K2 Canada Phone +1 (604) 526 3500 [email protected] Caldic Canada Inc. (Eastern) 1870 Boulevard Saint Regis Dorval, PQ H9P 1H6 Canada Phone +1 (514) 684 2120 [email protected] Caldic USA Inc. 2425 Alft Lane Elgin, Illinois 60124 USA Phone +1 (847) 468 0001 [email protected] Caldic USA Inc. 4811 South Eastern Avenue Bell, California 90040 USA CALDIC ANNUAL REPORT - 2016 ADRESSES 55 www.dadex.ca www.furex.de www.calsilsilicones.com www.caldic.com
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