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Invest Plus LLC has completed a deal to purchase Russia's largest production asset of IKEA - Ikea Industry Novgorod LLC.<\/p>\n
\u201cThe process of concluding the deal was not easy and quite lengthy. We are sincerely grateful to all its participants - IKEA, authorized Russian and Swedish regulators, as well as the Ministry of Industry and Trade and the Russian government - for the most constructive position. For us, the purchase of the plant is not the end of the road, but just the beginning: we came up with a specific plan for the long-term development of this unique production for Russia,\u201d Vadim Osipov, CEO of Invest Plus, commented on the news.<\/p>\n
Ikea Industry Novgorod is the largest production site previously owned by IKEA in Russia. The enterprise consists of a plant for the production of laminated chipboards (LDSP) and a cabinet furniture factory. The production capacity of the plant for the production of chipboard is more than 500 thousand m\u00b3 of polished chipboard, the cabinet furniture factory - more than 7 million cases of cabinets and kitchen furniture per year. In the past, this furniture factory produced such IKEA bestsellers as Pax wardrobe systems and Method kitchens.<\/p>\n
\u201cWe highly appreciate the technological potential of Ikea Industry Novgorod. This is one of the most modern and advanced Russian enterprises. But this is not the end of its competitive advantages. No less important for us is the highest production culture and a highly qualified workforce, the backbone of which has been preserved despite a long period of downtime,\u201d said Vadim Osipov.<\/p>\n
The new owner guarantees the maintenance of the number of employees and working conditions at the enterprise for at least a year. Full-fledged production at the Novgorod site is planned to be restarted in the next two to three months.<\/p>\n
\u201cWe are interested in resuming work as soon as possible. Our goal is to return the highly demanded and high-quality products of the Novgorod plant to the Russian furniture market as soon as possible,\u201d added Vadim Osipov.<\/p>","protected":false},"excerpt":{"rendered":"
Invest Plus LLC has completed a deal to purchase Russia’s largest production asset of IKEA – Ikea Industry Novgorod LLC. \u201cThe process of concluding the deal was not easy and quite lengthy. We are sincerely grateful to all its participants … Continue reading