Ukraine, Europe - Ukrainian Business Council., an association of 112 leading business, has acquired Ursus SA., an agricultural machinery manufacturer, at a bankruptcy auction, securing key production assets and committing to revitalizing the historic manufacturer. The group plans to modernize Ursus, strengthen its market position, and continue the brand's legacy in the global agricultural machinery industry.
M.I. Crow, led by Kyiv-based entrepreneur Oleg Krot, acquired the Ursus tractor brand for €17 million after two failed auction attempts and a 40% price reduction from €28.7 million. The acquisition gives M.I. Crow control over key Ursus assets, including production plants in Lublin and Dobre Miasto, valuable properties, extensive R&D documentation, production machinery, and the rights to the Ursus trademark.
In 2015, Ursus aimed to expand by securing contracts in Ethiopia, Tanzania, and Zambia, and even introduced electric vehicle prototypes, partly funded by the government. However, these efforts were unsuccessful, leading to creditors withdrawing and immediate loan recalls. Struggling financially, Ursus sought court protection and sold one of its plants for €1.4 million, still falling short of covering its outstanding debts.
Ursus tractor sales dropped significantly over the years: from 904 units in 2016 to 354 in 2018, and just 42 by mid-2021. The company ended 2021 with a €13.3 million loss, marking the end of its 125-year legacy and nearly a century of tractor production. Today, nearly half of Poland’s 1.5 million agricultural tractors are Ursus machines.
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