Ikea owner purchases 20K acres in SC for tree harvesting
CHARLESTON, S.C. (AP) - The company that owns the Swedish furniture brand IKEA has purchased land outside of Charleston, South Carolina, for tree growing and harvesting.
The Post and Courier reports Ingka Group recently bought about 17,000 acres (6,900 hectares) of land spanning three counties in the state's Lowcountry. Terms weren't disclosed.
The newspaper reports the land will be used to grow and harvest trees and add to the company's forestry holdings. The company also owns land in Alabama, Texas and abroad.
Ingka official Krister Mattsson said the purchase was motivated by the state's quality wood and "good regeneration capacities."
The company plans to plant and grow trees there as well.
Information from: The Post and Courier, http://www.postandcourier.com
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