ABOUT CREDIN A/S

History
The Palsgaard Estate in Hosby, four kilometres from Juelsminde, dates back to the 13th century. During the following centuries the manor house was remodelled into neo-classical style, and around the turn of the century an English landscape gardener laid out the beautiful park.
In 1908 the industrialist Einar Viggo Schou bought the 2500 acre estate, and in 1918-20 he built a large factory complex on the site which is today known as Palsgaard A/S. In 1930 his son, Herbert Schou, founded Credin A/S. The artificial cream Ermol was invented here, and was the beginning of the development of a series of emulsion products for the Danish bakers.

Credin A/S has proud traditions and many years of experience. Since its start in 1930 the company has gained a reputation as one of the most reliable and committed suppliers for the Danish bakery and flour confectionery segment. Credin A/S is known as innovative, reliable and cooperative. Credin A/S has great professional competences which have continuously been shared with and developed in cooperation with the bakers.

Over a period of 70 years Credin A/S has gained a strong international position and today has two subsidiary companies, one in Portugal and one in Poland.

In 2000 Credin A/S acquired 50% of the wholesale company "Maltcentralen A/S" in order to strengthen its position in the market and its competences as a professional total supplier for the bakery and flour confectionery sector. Maltcentralen was now owned jointly by Credin A/S and the Norwegian company Orkla Food Ingredients.

Odense Marcipan and Dragsb?k were already fully or partly owned by Orkla Food Ingredients, and the acquisition of Maltcentralen and the cooperation with Credin A/S now brought together the major competences within raw materials and wholesale functions for the bakery and flour confectionery sector.

As part of a further strengthening of Orkla Food Ingredients' position in the Danish baking and confectionery industry Credin A/S was acquired in 2003. The business areas of Credin A/S and Maltcentralen were fully integrated and carried on under the new company name: Credin bageripartner. Later Credin A/S and Credin bageripartner have been separated again, and today Credin A/S is an individual production company selling its products in Denmark, Scandinavia and several European countries, primarily to craft bakers and industrial bakeries. The sale is organized via the two subsidiary companies in Poland and Portugal and through affiliated companies and wholesalers.

Environmental Policy

Credin A/S carries out determined environmental work based on an overall approach and wishes to contribute to sustainable long-term development of environmental work.

Absence due to illness and the number of on-the-job injuries should always be kept at a minimum.

Credin A/S is ready to meet the increased environmental requirements from customers, consumers and employees, and all environmental requirements from the local community and authorities must be complied with.

Being part of the ORKLA concern Credin A/S makes still stronger demands on their suppliers when it comes to the work with product safety and environment.

Environmental approvals and permits:

As regards the activities in the fat production facilities and powder factory Credin A/S is classified as a listed company according to Part 5 of the Danish Environmental Protection Act, which requires specific approval for operation. Credin A/S is covered by section D5a of the act: Companies producing colouring agents, additives or auxiliary agents, including for the food industry, by means of chemical or biological processes. Credin prepares environmental accounts on an annual basis.