Feb 12, 2004. /Lesprom Network/. Russian Shatura company reported furniture sales to dealers at RUR 3670 million (including VAT), up 16,2% in 2003 compared with the prior period in 2002 ($120 million). Company’s net profits declined from RUR 439,7 million in 2002 to RUR 296 million in 2003, due to investment expense in 2003. Russian Shatura furniture supplies account for 12% of total national interior market supplies. In 2003 the enterprise was constantly boosting production capacity. In accordance with the bankruptcy procedure Shatura acquired European Furniture Company (Balakovo, Saratov region), one of Russia’s major and modern furniture enterprises. Chipboard first order production started in 2003, second-order production is about to be launched. After launching chipboard production worth $45 million in 2004, Shatura will double chipboard production to provide full supplies of high-quality chipboard under international standards for own needs. Other significant investments were those in logistics system improvement. Central storage for final product construction cost will reach $6 million.