Although Ursus’ severe crisis situation has been known for some time, its story now seems to have come to an end. The Lublin-based company’s assets will in fact be put up for public auction starting March 14.
Despite winning contracts to supply tractors to Ethiopia, Tanzania, and Zambia, the Polish manufacturer remained insolvent and accumulated a debt of tens of millions of zlotys. The starting amount of the auction is 28.9 million euros.
With a starting price of 124.5 million Polish zlotys (about 28.9 million euros), the auction will allow anyone to purchase the entire production assets and rights to the Ursus brand. Proposals can be submitted until the evening of March 12, by 4 p.m., exclusively.
Production and assembly facilities for tractors, equipment and electric buses located in Dobre Miasto and Lublin, the company’s current headquarters, are part of the auctioned package. In addition to the trademark rights, movable assets and machinery are also included.
The world of URSUS.
URSUS signifies more than 120 years of developing Polish agricultural mechanization, gathering experience and maintaining industrial traditions based on national capital. Ursus is undoubtedly Poland’s oldest manufacturer of agricultural vehicles, machinery and equipment.
In 2011 the tractor manufacturer was purchased by Pol-Mot Warfama. In the following years Ursus reported excellent tractor sales results, including: in the Czech Republic, Belgium, the Netherlands, and Pakistan, on multimillion-dollar contracts to supply agricultural equipment to African countries, and on plans to produce an electric delivery car.
In 2019, a bailiff entered the plant and temporarily seized raw materials, materials and semi-finished products. In 2021, a Warsaw court announced the bankruptcy of Ursus. In October 2022, the WSE board decided to withdraw the company’s shares from trading on the main market.