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Ikea To Buy Plant

Swedish furniture retailer Ikea will acquire a chipboard plant in the village of Podberezye, outside Veliky Novgorod, from Pfleiderer, a top regional administrator said Thursday, Interfax reported.

At the end of November, Novgorod regional authorities talked with Ikea about an investment project to build facilities in the Novgorod municipal district. Ikea is expected to build a furniture plant next to the chipboard plant.

The head of Ikea's manufacturing division, Christian Schwarz, told the authorities that possible environmental issues would be dealt with using a special filter that costs 4 million euros.

The plant will produce panels based on the wood used in Ikea products. Production capacity at the plant will be around 500,000 cubic meters of chipboard panels per year.

(MT)

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