URSUS S.A. concluded the agreement for delivery of 3000 tractors

URSUS S.A. concluded with the Ethiopian  company Metals and Engineering Corporation (METEC) of Adama Agricultural Machinery Industry (AAMI) with the seat in Adama (Oromia, Ethiopia) the agreement for delivery of 3 000 tractors, equipment for servicing centers and supply of spare parts for tractors. The total amount of the concluded agreement is 90 million USD and the agreement will be executed in the period of two years from the date of its signature.

URSUS S.A. concluded with the Ethiopian  company Metals and Engineering Corporation (METEC) of Adama Agricultural Machinery Industry (AAMI) with the seat in Adama (Oromia, Ethiopia) the agreement for delivery of 3 000 tractors, equipment for servicing centers and supply of spare parts for tractors. The total amount of the concluded agreement is 90 million USD and the agreement will be executed in the period of two years from the date of its signature.

On the basis of the concluded agreement the company URSUS S.A. will deliver to the Ethiopian buyer 3.000 tractors in two instalments, each of  1.500 items. According to the given commitment, the company shall supply tractors in SKD and CKD form. The first supplies of tractors in the first stage of the agreement shall start at the turn of the second and the third quarter of the year 2014. There will be tractors of 50, 80, 110, 140 and 180 HP. Starting the second stage of the agreement performance and its details will be agreed by the parties at the latest by the end of September 2014.

- Conclusion of this agreement is recognition of our efforts aiming at reconstruction of the old export markets of the company as well as confirmation of effectiveness of the strategy planned by the Management Board related to expansion in the African markets - said Karol Zarajczyk, vice-president of URSUS S.A. – We believe that smooth execution of this agreement will be the first, but enormous step towards gaining new selling markets in this so much developing region of the world.  

Under the agreement URSUS S.A. will assure also equipment for servicing centers and spare parts for sold tractors. Before deliveries the company will supply equipment for at least one of the buyer’s servicing centers. Besides, the company will organize trainings for the buyer’s staff and will assure him the technical support to the required extent. With regard to conclusion of the agreement for tractors delivery the parties expect to start cooperation concerning delivery of agricultural machines and devices. 

Payment for the goods will be executed by a documentary letter of credit opened by the buyer for the benefit of URSUS in Commercial Bank in Ethiopia and approved by a bank in Poland. Operational support for financing such transaction will be provided by Bank Gospodarstwa Krajowego.

URSUS embodies over 120 years of experience and tradition in agriculture based only on the Polish capital. URSUS is undoubtedly the oldest Polish brand present on the market of  machines and devices for agriculture and the only company from the sector of agricultural machinery and equipment listed on the Warsaw Stock Exchange. In its range of products the company focuses on quality of manufacturing and modern design.  In this aspect its products are not inferior to the world leaders. The principal idea of the company is production of various machines and devices marked by European quality of performance and good price.