(ANSA) - BUCHAREST - The Swedish multinational Ikea started exploiting the forests it acquired last year in Romania, Romania insider reported. The company had acquired 33,6 thousand hectares of forests from a company controlled by Harvard University last July for 56 million euros. Since then, 55 thousand cubic metres of wood have already been exploited.

However, Iri Forest Management - an Ikea-controlled company established to manage its forests on the Romanian territory - said that the amount of trees cut represents less than half of the amount allowed by the Romanian laws on an annual basis, and that it has planted over one million trees in order to regenerate its forests in Suceava, Botoşani, Ias, Vaslui, Prahova, Vrancea, Buzau, Galati, Covasna and Dolj. The overall Ikea investments in Romania amount to an estimated 150 million euros, including the forests in its property. The company's manager for Eastern Europe, Stefan Vanoverbeke, had announced earlier that around 4% of all articles sold by Ikea worldwide were made in Romania and that the company aimed to double its stake of products acquired in Romania over the next five years.(ANSA).