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IKEA russia power supply proceedings

IKEA russia power supply proceedings

We are pleased to inform that all outstanding issues have been resolved and covered by a mutual settlement between the parties. ISM, SAE and IKEA MOS have consequently withdrawn their legal claims in the ongoing legal procedures. "We are satisfied that we can now put this issue behind us and plan ahead, says John Rasmussen, Chairman of IKEA MOS. Russia is a very important market for IKEA and we highly appreciate the support we received from the Russian Government and the Ministry of Economic Development in this matter. Our long term intention is to continue developing our activities in Russia in retailing, sourcing and production of IKEA products", continues Rasmussen.