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IKEA looks to Siberia for new factory
Published: 07 December, 2007, 12:21
Swedish furniture giant IKEA is in talks about building a plant in the Siberian region of Tyumen. The factory in the city of Ishim would manufacture furniture parts.
IKEA plans to invest up to $US 60 million in the project.
The company also wants to develop timber cutting in the Tyumen region.
IKEA, already a big name in Russia, plans to invest $US 2 billion in the country over the next six years.
07.12.2007, 11:20
Blast knocks out EU gas pipeline in UkraineOfficials in Ukraine say a gas pipe damaged by a blast on Thursday will be up and running in the next 10 days. National oil and gas operator, Naftogaz, said supplies to Europe would not be affected. |
07.12.2007, 12:45
Russian steel giants in $US 600 million mergerNovolipetsk Steel (NLMK) has agreed to buy 50 per cent plus one share of rival metal firm Maxi group. The deal, worth $US 600 million, gives NLMK a controlling stake in Maxi and increases its share of the building steel market. |
