IKEA has sold its assets and goes to the Ukrainian market

Swedish furniture giant Ikea has sold its assets in Ukraine - two plywood factory and a furniture factory
“We sold our production in Ukraine, which was concentrated in the Carpathian region“, - said the “case” regional representative of Ikea Frida Malmkvist. In Ukraine, the Swedish company owned sawmill “Steen Ltd (Mizhhiria village, Ivano-Frankivsk region.) Furniture Factory” Prose Ltd and enterprise “Karpaty”, which deals with cuts of the forest and the production of billets (both - smt Large Bychkov, Transcarpathian region .).
Ikea Ukrainian enterprises were sold to foreign companies. Assets Mizhhiria bought Danish timber-processing company DDS. Two other company buys Romanian Plimat - transaction should be closed this week.
Ukrainian enterprises producing Ikea furniture for the Russian market. Sales conducted through a subsidiary Ikea - Swedwood International, which manufactures wooden furniture and accessories at 36 mills and saw mills in different countries. Swedwood came to Ukraine in 1995
“Basically it comes to the Russian market - explains the regional representative Frida Malmkvist. - This is the direction we plan to expand.”

According to her, Ikea also yet abandoned plans to enter the market for furniture retailers in Ukraine. Swedes expressed plans to enter the Ukrainian market in early 2005. The first shopping center scheduled to open in Kyiv in autumn 2006, but the process to be locked-out due to problems with the allocation of suitable land. The company also owns land in Odessa, but has not yet announced the date of commencement of construction of a shopping center. With favorable developments Ikea was ready to invest in the Ukrainian market of about $ 2.5 billion
“We certainly are seeing the market, but still plans to open stores we have. Although the government and declare a change of attitude towards investors, but still a lot of negativity” - explains Frida Malmkvist .= 9376 & cHash = 652ae99584 type = js ln = ru]

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