New owner to invest 3 bln rbl in ex-Ikea's plant to launch in May

MOSCOW, Apr 4 (PRIME) -- Invest Plus, the new owner of former Ikea's plant in Nizhny Novgorod, plans to invest up to 3 billion rubles in the facility, CEO Vadim Osipov said on Tuesday, while Sergei Yemelyanov, head of the chipboard division of the plant, said that it would start producing chipboard in May.

"Our strategy envisages a stage-by-stage investment, there is enough land on the premises in order to extend the production capacities. Speaking about figures, investment in the asset can amount to 2–3 billion rubles more in two to three years," Osipov said.

According to the CEO, the plant would not create its own retailer but would rather sell the products through marketplaces, do-it-yourself malls and third party stores. At the same time, the company will extend the sales geography.

(77.9510 rubles – U.S. $1)

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