Ukrainian buyer for Poland’s Ursus tractors
11 November 2024
Ursus C-3105 (Photo: Ursus)
Ursus, the Polish tractor OEM which was declared bankrupt in 2021, has been auctioned off to a Ukrainian business group.
The tractor manufacturer had been having financial problems since the last decade, with multiple outstanding bank loans.
The sale included the Ursus brand name, the head office location, factories in Dobre Miasto and Lublin, materials and machine rights. The selling price was reported to be about €17 million, down from the original €28.7 million asking price.
According to media reports, the company was sold to M.I. Crow SP Z O.O. Little is known about the company, which was apparently formed in Warsaw in 2024. Activities are listed as ‘production of other transport equipment’, together with fabricated metal products, and storage and transport support services.
Oleg Krot, member of the management board at M.I Crow, is a Ukrainian entrepreneur who works in the technology industry. His companies include Techniia, a tech holding company which backs Ukrainian products and ideas.
The buyers have evidently put forward plans that would see production of farm machinery restarted within 18 months.
Before its bankruptcy, Ursus had been producing tractors since 1918. It is said to have delivered half of all tractors working across Poland.
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