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Poland - News and Tourist Information : 01 October 2004

Ikea to Invest More in Polish Operations

Sweden's Ikea said Thursday that it plans to invest 1.5 billion zlotys (US$427 million; euro342 million) over the next three years in its operations in Poland, the furnishing giant's largest European producer.

The chief executive officer of Ikea's Poland branch, Jan Musiolik, said the money would be used to build a new shop in the central Polish city of Lodz and to enlarge stores in Poznan, Wroclaw, Gdansk and Krakow, the news agency PAP reported.

Ikea employs about 8,000 people in Poland, more than 6,000 in production plants.

This year Polish manufacturers supplied the company with 3.2 billion zlotys (US$914 million; euro730 million) worth of products, PAP reported. Only China manufactures more goods for the company.

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Are you considering buying a home abroad? Many places like Spain have experienced seriously quick rises in price and an investment in countries like this may not be such a good idea. In Poland you can still pick up a beach resort for much cheaper than you think. Post a question to our Polish Forum if you want to know more.