Holzindustrie Schweighofer expects 4% lower business in 2009

Austrian businessman Gerald Schweighofer, who has so far invested over 200 million euros in wood manufacturing in Romania, forecasts business worth 250 million euros for this year, generated by the plants in Alba and Suceava counties, 4% less than in 2008. "The lower business in Romania has to do with the around 20% decline in the price of products, in the context of the economic crisis," Schweighofer told ZF. However, the 50 year-old businessman has continued to invest in developing the local business, having recently bought the Swedwood plant in Siret from IKEA, which the Swedish company decided to close in mid last year as a result of rising costs. Holzindustrie Schweighofer was one of the suppliers of the former IKEA plant, which provided around 10-15% of its raw material.