Oleg Krot, president of M.I. Crow, declared in an interview with state news agency PAP that he intends to revive Ursus’ production capacity, aiming to finalize the takeover and unveil a five-year development plan by the first quarter of 2025.
“Ursus had competitive products and loyal customers. It was not market conditions but mistakes by the previous management that led to its collapse,” said Krot, a 41-year-old Ukrainian entrepreneur and co-owner of the Techiia holding. “Our company has the resources to modernize the plants in Lublin and Dobre Miasto and rehire staff. Ursus will get back to making tractors.”
Targeting African and European markets
Krot noted “significant demand” for Ursus-class tractors in parts of Africa—particularly Tanzania, Kenya, and Uganda—as well as in Ukraine and other European countries. One of M.I. Crow’s top priorities, he said, will be rebuilding Ursus’ distribution channels, which had deteriorated under the previous leadership.
With just 117 employees—down from a workforce of 1,000—Ursus requires an urgent infusion of capital and technology to resume large-scale production. Krot pledged to update the factories’ machinery, hire more workers, and conduct audits of both technical documentation and energy efficiency.
“We’re finishing an audit of the technical documentation and plan to renew Ursus’ ISO 9001 certification,” Krot explained. “At the start of 2025, once we finalize the takeover, we’ll present a five-year roadmap for growth.”
Reviving an icon
Established in 1893, Ursus began by producing industrial equipment before shifting to tractor manufacturing in the early 1920s. After decades of expansion and post-war restructuring, the company faced financial difficulties, leading to bankruptcy proceedings in 2021.
M.I. Crow purchased Ursus in October 2024 for PLN 74 million (~USD 18 million), acquiring two production plants (in Dobre Miasto and Lublin) as well as the Ursus trademark.
Krot, who has a background in crisis management and agricultural technology, believes the storied brand still holds strong recognition. “I quickly realized Ursus could be rebuilt, and I’m confident we can achieve that,” he said.
(jh)
Source: PAP