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BUSINESS IN SHORT

Swedspan to invest over €100 m

SWEDSPAN Slovakia, a member of the Ikea group, has launched construction of a new complex in Malacky in western Slovakia with an investment worth more than €100 million.

SWEDSPAN Slovakia, a member of the Ikea group, has launched construction of a new complex in Malacky in western Slovakia with an investment worth more than €100 million.

The new plant will produce wooden panels using an innovative technology and an energy-saving production process.

The company will keep its current 140 employees and in the future might increase the number of people employed in the plant by 10 to 15 percent.

The new production unit should replace the existing one in 2014.

“The constructed space will significantly widen production in Malacky and bring a more ecological and economical production process,” the general director of Swedspan Slovakia, Janis Lencevics, said as quoted by the TASR newswire.

Lower production costs should result in lower prices of furniture products sold via the Ikea retail chain, Swedspan Group president Christian Schwarz told TASR.

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