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. Last Updated: 07/27/2016

IKEA to Buy Wood Factory in Northwest

IKEA said Wednesday that it would spend about 40 million euros ($60.3 million) on building a wood-processing factory in northwestern Russia.

Construction of the factory, which will produce birch-made furniture components in the Kostroma region, will start next year, IKEA said. The plant will start production in early 2012, the retailer said.