IKEA freezes wood working plant project in Russia

IKEA is to abandon the construction of a production facility in Russia’s Tyumen region. The plant in Ishim was to be built at an investment of EUR10 million (USD12 million) and produce up to 150,000 cubic metres of furniture board per year. At a similar abandoned project in the Sverdlovsk region, IKEA had previously found that there was insufficient timber of necessary quality to supply the plant.