IKEA to Build Asia-Pacific Logistics Hub in China
IKEA to Build Asia-Pacific Logistics Hub in China
(SinoCast Via Thomson Dialog NewsEdge)SHANGHAI, Mar 31, 2006 (SinoCast via COMTEX) –On March 28, IKEA Group of Sweden, the biggest furniture retailer in the world, declared to build its biggest Asia-Pacific logistics center in Fengxian district of Shanghai with a budgeted investment of over USD 120 million.
China has been the biggest procurement market of IKEA-the conglomerate of the furniture retailing industry. And the annual turnover of IKEA reaches 14.8 billion euros.
Official of IKEA (Asia-Pacific) Hu Dawei said that distribution and logistics are two vitals of furniture retail industry. This logistics distribution center will have a storage capacity of 300,000 cubic meters, cover 580 mu (1 mu=667 square meters) of land, and involve a budgeted investment of USD 120 million. It will be IKEA’s biggest one in Asia-Pacific region.
More: tmcnet.com
