17 June 2004 08:49
SWEDWOOD TIKHVIN TO PUT 20 MLN EUROS INTO PRODUCTION DEVELOPMENT IN
2004
ST. PETERSBURG. June 17 (Interfax) - Swedwood Tikhvin (Leningrad region, an IKEA subsidiary) is looking to invest 20
million euros in developing production this year, company materials say.
Swedwood Tikhvin was founded in September of 2001 and began
producing in August the following year. overall investment in
The bulk will go to building a furniture plant that will supply products to Swedish furniture and home furnishings
giant IKEA, as well as to boosting output capacity at its existing shop for making fiberboard and furniture components -
from 33,000 cubic meters to 50,000 cubic meters a year.
"This will be the largest fiberboard producer in Europe, including Russia," the materials say. Swedwood
Tikhvin currently exports around 90% of the products it makes, and plans to reduce that proportion in the future.
production, logging equipment and infrastructure has now reached upwards of 26 million euros. The company employs
roughly 800.
The company group Swedwood has over 30 production facilities in ten countries.
[Interfax] |
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