Ikea acquires 42,000 acres of forestland in Texas

USA - Ikea informed it had acquired 42,000 acres of forestland in East Texas to source wood for its furniture.

862IKEA2The Swedish furniture giant informed the acquisition, coupled with the recent purchase of 18,000 acres in Southeast Oklahoma, nearly doubled its U.S. forestry portfolio to 125,000 acres. Financial details of the transaction were not disclosed.

“We are committed to manage our forests in a sustainable way, with proper care for people and the environment, and at the same time meeting our business objectives", Krister Mattsson, a director with Ikea ’s parent company, said in a statement.

Ikea , which uses wood in much of its furniture, has been buying forestland in the United States since 2014 as it works toward its goal of using 100 percent sustainably sourced wood in its products. The company’s forests are inspected annually by the Forest Stewardship Council (FSC) to ensure the company is following international principles of good long-term forest management.

Last year, IKEA planted 600,000 tree seedlings in the U.S., and nearly 7 million globally.

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