Ikea buys 33,600 hectares of forest in Romania


Ikea has bought 33,600 hectares of forest in Romania, from a Swedish private company, making it the largest forest owner in Romania, according to Mediafax news.

Ikea purchased the hectares of forest from a Swedish company, Greengold, led by former partners in Romania of the University of Harvard.

This is the first acquisition of its kind carried out by the Swedish company worldwide and makes the furniture and furnishings retailer into the largest owner of forests in Romania.

In January, Harvard University gave, after charges of corruption, some forests in Romania to Greengold Swedish group headed by partners and employees from Bucharest of the US University’s investment division.

Purchased forest areas are in Prahova, Buzau, Vrancea, Botosani and Bihor. Romania is the first country where Ikea Group will coordinate its own activities of owned forest management, through a Romanian company, IRI Investments Ltd, part of the Ikea Group.


View original post 279 more words


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s