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Simpo and Ikea signed agreement worth 15 million euros

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During next 12 months, Vranje-based Simpo will offer its 15 million euros worth of products to customers in the markets of Russia, Europe, and the Near East, through Ikea’s retail network.

– After long talks, this important business agreement has just been signed between Serbia’s biggest furniture manufacturer and Swedish Ikea, one of the world’s largest furniture showroom chain – it is stated in Simpo’s announcement.

Prior to September 2011, Ikea will market nearly 300,000 mattresses through Ikea.

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– That is why about EUR 0.5m will be invested in procurement of new equipment for the mattress factory in Bujanovac, which will triple production, while introduction of the third shift will enable employment of new workers – it is stated in the announcement.

By the end of the year, Simpo will also deliver about 7,000 small beds made in Radovnica-based Furniture factory near Trgoviste and few thousand products made in the Factory of upholstery products to Ikea, worth about 10 million euros.

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