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. Last Updated: 07/27/2016

Nordic Firms Settle Into Khimki

For MTAxel Bohman standing outside of Bohmans' newly opened warehouse in Khimki.
Swedish firm Skanska has completed construction on a 5,300-square-meter warehouse in Khimki for another Swedish company, Bohmans, and for Finnish firm Lindstrom.

"For us, Russia is a neighboring country, and it seemed logical to open here," said Axel Bohman, head of the 120-year-old family firm, which deals in lumber and wood veneers.

Bohmans plans to use its half of the warehouse as its headquarters and intends to open an on-site factory.

Lindstrom, which specializes in supplying and cleaning industrial clothing and dust-free carpets, has taken a 10-year lease on the other half of the building.

The warehouse is located at the 74th kilometer on the Moscow Outer Ring Road, or MKAD, not far from Leningradskoye Shosse and close to another Skanska project, Swedish retailer IKEA's first Moscow store.

Bohman said the company has annual sales of about $40 million. Lindstrom's web site reports 2001 sales totaled 126.6 million euros ($136.4 million). Both companies operate in about 10 countries.

Bohmans has been active in Moscow for six years and St. Petersburg for nine years. It uses lumber from the Krasnodar region and the Far East and also imports exotic woods from Sweden.

Bohmans materials were used in the restoration of the Kremlin and construction of Christ the Savior Cathedral.

Lindstrom has been operating in Moscow since 1997 and St. Petersburg since 1993.

Construction on the Khimki warehouse started in May 2002 and was completed ahead of schedule.

Bohmans took a 49-year lease on the warehouse site. Noble Gibbons/CB Richard Ellis served as a real estate consultant.

Per Saland, the deputy head of mission at the Swedish Embassy, said at the Feb. 14 opening that Bohman's total investment was about $6 million.

"It's a big investment for a medium-sized Swedish company," he said, adding that Sweden is seventh in terms of foreign direct investment in Russia and that about 20 Swedish firms operate in Moscow and the Moscow region.

Large Swedish firms active in Russia include IKEA, Tetrapak, Alfa-Laval, Ericsson and cosmetic firm Oriflame, which is planning a factory, he said.

Russia is Finland's third-largest trading partner, and Finland is Russia's seventh, said Nina Vaskunlahti, deputy head of mission at the Finnish Embassy. Finnish investment in Russia totals some 400 million euros ($431 million).