The work of the former IKEA plant in Nizhny Novgorod will resume in the next 2-3 months

Invest Plus, owned by co-owner of the Slotex group of companies Vadim Osipov, plans to restart the work of the former IKEA factory in Nizhny Novgorod in the next 2-3 months. About it informed TASS with reference to the company’s press service.

“The new owner guarantees the preservation of the number and working conditions for the employees of Ikea Industry Novgorod LLC for at least a year. Full-fledged production at the Novgorod site is planned to be restarted in the next 2-3 months,” the statement said.

March 24 IKEA completed a deal to sell a furniture factory in the Novgorod region to LLC Invest Plus, a co-owner of the St. Petersburg company Slotex. It was reported that the acquired asset will develop as an independent business, it will not be part of the Slotex group.

On the same day, it became known that the Luzales lumber company closed a deal to acquire two former IKEA factories in the Leningrad and Kirov regions. The day before, on March 23, Chairman of the Board of Directors of Luzales Ruslan Semenyuk told on plans for the production of school furniture. According to him, the production of new products may begin in 2-3 months.

On March 4, 2022, IKEA temporarily closed stores in Russia amid a Russian special operation in Ukraine, logistical problems and sanctions. In mid-June, it became known that the company was looking for buyers for its four factories in Russia, as well as reducing staff and selling off the rest of the goods. On February 16, Deputy Minister of Industry and Trade Viktor Evtukhov named buyers of three IKEA factories in Russia (two factories were merged into one, so the deal covered three factories). They were Slotex, which specializes in kitchen worktops and facades, as well as Luzales. The details of the deal were not specified.