Investments

August 29, 2022

Ikea announces further investments in Chinese market

Ingka Group, the parent group of Swedish home furnishing giant Ikea, will invest 5.3 billion yuan (EUR 770 million) in China in the fiscal year 2023, the company said in a press conference. The investment will be used for further business digitalization, construction of new stores and shopping malls as well as the integration of multiple distribution channels, said Anna Pawlak Kuliga, CEO and president of Ikea China. Lydia Song, vice-president of Ikea China, said that the company will announce the investment of a wind power project in China later this year. As to the store expansion plan in China for fiscal year 2023, which will start on Sept 1, Ikea will open a smaller scale store in Hefei, the capital city of East China's Anhui province. It will also launch a second store in Xi'an of Shaanxi province. In early July, Ikea shut down its 8,500-square-meter store in northeast... Continue reading →

April 9, 2018

BC wood invests CAD 7.8 million to promote Canadian wood overseas

Forestry Innovation Investment informed that the Government of British Columbia Province of Canada is investing CAD 7.8 million to promote the use of B.C. wood overseas, advance wood building systems and products, and expand global markets. According to the announcement, through an annual, competitive call for proposals process, 13 industry trade associations and research institutes were selected to receive funding and deliver market development, or wood innovation programs, on behalf of government and industry. B.C.’s contribution is being managed through Forestry Innovation Investment, the Province’s market development agency for forest products. The Province will cost-share these activities, with additional funding provided by B.C. industry and the federal government, through Natural Resources Canada. Of the CAD 7.8 million: CAD 5.985 million will be made available for... Continue reading →

February 27, 2019

Around 500 Chinese-owned sawmill firms are currently operating in Russia

Russia’s softwood lumber production and exports have risen dramatically in recent years. Russian softwood lumber production, estimated at 39 million m3 in 2018, has increased by 55% over the past ten years. Softwood lumber exports, at 29.3 million m3 in 2018, have nearly doubled over the same period. Russian softwood lumber exports to China were a whopping 15.65 million m3 last year. This is more than double exports in 2014 and now represents a 63% market share of all softwood lumber imports. The nearly 10% increase in Russian softwood lumber exports in 2018 is despite slowing market conditions in China and Russia is aggressively displacing many other countries, including Finland (-32%; -550,000 m3); Sweden (-22%; -200,000 m3); and Canada (-15%; -824,000 m3). There major capital investments and expansions by Russian-owned companies, at the same time with a major growth of... Continue reading →

August 29, 2022

Ikea announces further investments in Chinese market

Ingka Group, the parent group of Swedish home furnishing giant Ikea, will invest 5.3 billion yuan (EUR 770 million) in China in the fiscal year 2023, the company said in a press conference. The investment will be used for further business digitalization, construction of new stores and shopping malls as well as the integration of multiple distribution channels, said Anna Pawlak Kuliga, CEO and president of Ikea China. Lydia Song, vice-president of Ikea China, said that the company will announce the investment of a wind power project in China later this year. As to the store expansion plan in China for fiscal year 2023, which will start on Sept 1, Ikea will open a smaller scale store in Hefei, the capital city of East China's Anhui province. It will also launch a second store in Xi'an of Shaanxi province. In early July, Ikea shut down its 8,500-square-meter store in northeast... Continue reading →

October 28, 2020

Brazilian companies plan a U$ 6.3 billion investment in the forest sector by 2023

Companies associated with the Brazilian Tree Industry (Ibá), which represents the planted tree sector in Brazil, plan to invest BRL 35.5 billion (USD 6.3 billion) by 2023 in forests, new factories, science, and technology, according to the organization’s 2020 Annual Report, which is now produced in partnership with the Brazilian Institute of Economics at Fundação Getulio Vargas (FGV). These major investments show the sector’s confidence in the green economy and consumer preferences for traceable, recyclable, and biodegradable products from renewable sources that also store carbon dioxide. “Traceability is imperative for this chain, which for over two decades has been not only fulfilling but exceeding certification requirements. 100% of the raw materials from this industry come from planted forests. The sector rejects illegal deforestation, and actually preserves the... Continue reading →

August 29, 2022

Ikea announces further investments in Chinese market

Ingka Group, the parent group of Swedish home furnishing giant Ikea, will invest 5.3 billion yuan (EUR 770 million) in China in the fiscal year 2023, the company said in a press conference. The investment will be used for further business digitalization, construction of new stores and shopping malls as well as the integration of multiple distribution channels, said Anna Pawlak Kuliga, CEO and president of Ikea China. Lydia Song, vice-president of Ikea China, said that the company will announce the investment of a wind power project in China later this year. As to the store expansion plan in China for fiscal year 2023, which will start on Sept 1, Ikea will open a smaller scale store in Hefei, the capital city of East China's Anhui province. It will also launch a second store in Xi'an of Shaanxi province. In early July, Ikea shut down its 8,500-square-meter store in northeast... Continue reading →