IKEA buys woods for needs of furniture production

IKEA has recently bought a woods covering nearly 14 hectares in Romania, which is the first such acquisition by this Swedish furniture maker.

It is bought for the company's own needs, that is, for the purpose of producing furniture for stores in Buchares.

- Romania is the first country where the IKEA group will be managing forestry works, and the aim is to set example of how to manage forests in a sustainable manner - said Frederick de Jong from IKEA.

The group plans to make similar acquisitions in few other countries where they operate. It is interesting that the woods in Romania was bought from the Harvard University, which was then involved into a corruption affair related to this land.

According to the data from 2013, IKEA's sales were at EUR 27.9 billion with an annual growth rate of 3.1%. Sales are the biggest in Germany, followed by the USA and France. IKEA has 303 department stores in 26 countries, about 9,500 articles and 135,000 employees.