Attempts to restructure the ailing Polish company have failed and the largest tractor and farm machinery manufacturer in the country has been declared bankrupt.
The company struggled with financial problems and generated large losses for years, and at the back end of 2019 announced plans to sell two of its production sites as part of a major restructuring programme. One of these was acquired by Dutch mixer wagon manufacturer Trioliet.
Despite winning contracts to supply tractors to Ethiopia, Tanzania and Zambia, the debt-stricken company, which also made electric buses, ended last year with a loss exceeding €12m.
It really is amazing how quickly things can change in the tractor business. Ursus had a sizeable stand five years ago at the 2017 Agritechnica where it surprised visitors with a couple of stylishly finished versions of a 150hp ‘global’ tractor. There was even a hint of a CVT, and the company was actively seeking a UK importer.
The bankruptcy ends the 125-year history of the Polish tractor maker, which is believed to have supplied almost half of the 1.5 million tractors currently used in the country.
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