Global Wood --industry news and reports on timber and furniture and other wood products

PRODUCTION IN NEW SWEDWOOD PLANT TO START IN SUMMER 2003

¡¾Feb.26, 2002¡¿

PRODUCTION IN NEW SWEDWOOD PLANT TO START IN SUMMER 2003

January 2002 - Slovakia: The new plant of Swedwood International in Slovakia may start producing sliced veneer in the summer of 2003. It will employ 150 people at least, and its maximum production is projected at 15 million square meters of veneer annually. Swedwood IKEA made the announcement after signing a framework agreement on the supply of wood with Slovak Agriculture Minister.

The location where the plant will be built has not been selected so far. The general director of Slovak state-run company Lesy SR signed with Swedwood representatives a framework agreement on the supply of beech logs for 20 years.

The planned plant will be the fourth production plant of Swedwood in Slovakia. The investments are projected at EUR 10 million (SKK 42.55 million). Furniture producer Spartan Trnava will process the better portion of the plant's production of veneer. Swedwood investments in Slovakia total SKK 6 billion, and the company sees great potential for the expansion of its production activities in Slovakia.

Swedwood International AB belongs to the group of Swedish furniture maker IKEA, and it produces 50% of the supplies for IKEA.