Restructuring of the Ursus Group
The shareholders’ meeting of Ursus and Ursus Bus decided to merge the companies. This means that the manufacturer of agricultural machinery will absorb the bus manufacturing company. The merger is to help save Ursus.
According to the announcement of the company’s stock exchange, after the merger the company will continue its bus and trolleybus production activities as well as further restructuring of the Ursus group. The company has now moved from Lublin to Dobre Miasto and plans to sell its plants in Opalenica.
Moreover, the Company has filed an application with the District Court in Olsztyn for opening the accelerated arrangement procedure in order to repair the company’s finances.
The Management Board of the company justifying the application indicated that “Submitting the application for opening the restructuring proceedings is aimed at avoiding the announcement of bankruptcy of the issuer by allowing it to restructure while securing the rights of all creditors of the issuer. The issuer’s Management Board intends to undertake legal and factual actions, which will aim at improving the economic situation of the company and aimed at restoring the company’s ability to perform its obligations, at the same time taking advantage of the protection against enforcement”.
