A division of Sweden’s IKEA has bought 33,600 hectares of forest in Romania
IKEA Group – through IRI (IKEA Resource Independence), its Romanian subsidiary – ups its investments in Romania by buying 33,600 hectares of forest, a company communiqué informs.
The forest bought is located in Romania’s central and north-eastern part. Romania will thus become the first country in which IKEA Group will directly integrate a fully-owned sustainable source of wood, production through direct relationship with local subcontractors and the finished goods in stores.
“IKEA Group has decided to invest in forestry operations. This decision eases our access to raw materials managed sustainably and supports our vision on offering consumers high-quality products at accessible prices. Investing in forests is also a manner of diversifying our assets. We are happy to announce the expansion of our investment in forestry activities in Romania, an important country for our production of furniture. Through this purchase, Romania becomes the first country in which IKEA Group will manage its own forestry operations and we plan to be an example of sustainable management of forests,” IRI Investments Romania Chairman of the Board Frederik de Jong stated.
IKEA Group’s retail division is represented in Romania through a store opened in Bucharest in 2007 and it recently bought a plot of land for a second store.