27 October 1998
Poland’s tractor business faces revamp
URSUS, Polands state tractor factory, is close to agreeing a restructuring, reports the Financial Times in a special section on the Polish economy.
The company licenses its tractor technology from Massey-Ferguson. But the business has not been profitable. In recent years Ursus has been kept alive by accumulating debt.
Unions look like agreeing to a deal which will turn the Warsaw factory into an assembly operation, with sales offices, a design centre and a strong brand.
This might eventually employ only 1200, compared with 5800. Agco, which owns Massey-Ferguson, could be interested in acquisition after pulling out from privatisation talks with the Government earlier.
- Financial Times 27/10/98 page V (Poland: Finance and Investment)