IKEA Continues U.S. Timberland Purchases
Ingka Investments, IKEA’s parent company, recently made two timberland acquisitions which nearly doubles its U.S. forestland portfolio. One purchase was in East Texas for 42,000 acres, following a deal for 18,000 forestland acres in southeast Oklahoma. IKEA’s U.S. forestry portfolio is now 125,000 acres.
Managing Director Krister Mattsson comments, “We are pleased to continue our forestland acquisitions in the U.S, as we see a good match between what the market has to offer and our high standards related to responsible forest management.”
IKEA has also purchased timberland in Alabama (25,000 acres in Lowndes County) and South Carolina (17,000 acres).
The retailer has 374 stores in 30 countries, including 47 stores in the U.S. with seven distribution centers.
For its forest management in the U.S., IKEA has partnered with Campbell Global, a leader in sustainable timberland and natural resource investment, to oversee and operate the property.
Latest News
Canfor Committee Analyzing Great Pacific Offer
Canfor Corp. announced that a Special Committee of its board of directors has retained Greenhill & Co. as financial advisor. Greenhill is preparing a valuation of the common shares of the company. Additionally, the Special…
GP Makes Commitment To Gurdon Mills, Community
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Georgia-Pacific is investing $70 million in upgrades at its lumber and plywood operations in Gurdon, Ark. Some of the improvements include an advanced merchandiser, new panel assembly stations with state-of-the-art scanning…
IKEA Will Close Lone U.S. Plant
IKEA Industry announced it will discontinue production at its Danville, Va. location in December. The plant, which has been in operation since 2008 and employs 300, produces wood-based furniture for its retail stores in the…
Find Us On Social
Newsletter
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Subscribe/Renew
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.