Ursus, Poland’s former legend in tractor production, has financial problems and needs an investor.
“Advanced talks are being held with the representatives of Uzel of Turkey. Further talks with Bumar’s, Ursus’s and the Turkish partner’s representatives are planned in the near future. Final conditions of the transaction should be settled”, Roma Sarzynska, Bumar state-owned group, the owner of Ursus, spokeswoman said.
According to “PB” data, the Turks would bring money in exchange for the brand. Uzel would have 51 percent in the company.
Ursus and Uzel have been cooperating for many years now. Long ago, both of them bought licenses of Fergusson tractors. The vehicles they produce are similar to each other. Uzel delivers parts to Ursus as well.
“It would be great if the Turks left and promoted Ursus brand. It is not very probable, however. The Polish producer has nearly lost our market and it does not exist abroad. The Turkish investor will probably treat Ursus as an assembly plant. Because it is located in Poland, it may assure the certificate of EU origin of the product”, Jan Radniecki from the Institute of Agricultural Machines said.
Polish group Pol-Mot Holding has been trying for many years to acquire Ursus.
“We are still interested in the acquisition”, Andrzej Zarajczyk, the group’s CEO said.
“Pol-Mot Holding has not submitted any offer to buy Ursus”, Roma Sarzynska said.
Hindu tractor producer Tractors and Farm Equipment Limited was also interested in Ursus.
(PLN 1 = EUR 0.266)