Ukrainian businessman planning to revive famous Polish tractor brand
Ukrainian businessman Oleh Krot, who recently acquired the Polish tractor company Ursus, plans to revive its operations. The new owner intends to launch production at two industrial sites, modernize equipment and enter African markets, Polish media reported on Monday, citing news agency PAP.
Krot believes that the company's bankruptcy was not due to market factors but rather to management errors.
He intends to present a comprehensive revival program for the legendary Polish brand in the first quarter of 2025.
The plans for reviving production include increasing the number of employees (currently only 117 out of the original 1,000 remain) and entering the African market, specifically Tanzania, Kenya, and Uganda.
"These markets need such tractors and in large quantities. It should be noted that erroneous decisions made by the previous management team led to the loss of sales channels, but we will restore them. This is one of the most urgent tasks for the new management team of the company," Krot said.
He is also considering the possibility of developing sales in Ukraine and other European countries.
The company plans to conduct a technical audit, update the ISO 9001 certification, and carry out an energy audit to improve the energy efficiency of the enterprise.
The president of MI Crow assured that the investor has the funds to finance the reconstruction of Ursus. "We have equity capital, as well as financial partners in Poland and abroad who express great interest in investing in the company," Krot said.
He noted that although his business path is primarily related to cyber sports, he also has experience working in the agribusiness sector.
Ursus is the oldest manufacturer of agricultural machinery in Poland, founded in Warsaw in 1893.
The company began facing problems in 2016, with tractor sales declining annually. In 2020, Ursus incurred losses of 58 million zlotys ($14.9 million), and in July 2021, the District Court in Warsaw declared Ursus bankrupt.
In late October 2024, Ursus was sold in the third tender for 74 million zlotys ($17.9 million) to MI Crow in a competition organized by the bankruptcy trustee. MI Crow became the owner of two production plants in Dobre Miasto and Lublin, as well as machines and devices of the Ursus trade mark.
