Ursus Plunges as Court Rules Polish Tractor Maker Is Insolvent

Shares in Polish tractor and machinery maker dive as much as 38% after Warsaw court rejected a request to allow the indebted company to start recovery procedures and declared its insolvency.

• Ursus trades 36% lower at 0.5 zloty at 11:17am in Warsaw, with volume exceeding 26 times the 3-month average
• NOTE: Ursus, founded in 1893, has incurred losses since 2017, as the company’s expansion into electric and hydrogen buses failed to generate profit, while orders of tractors from Africa waned
  • In recent months, Ursus announced the signing of several memorandums of understanding, including with Chinese and Korean partners, for proposed ...