Ursus notes record revenues, builds electric bus

Polish producer of agricultural machinery, Ursus recorded a 51.5 percent growth (year-on-year) of revenues in the fourth quarter of 2014, plans to increase investments this year and has been working on its city electric bus, the company informed. The total exports increased by 142.9 percent y/y, the contract with Ethiopia (worth PLN 122.2 million) played a crucial role, the firm pointed out. The next 1,500 of tractors will be sent to Africa this year. Ursus is going to expand its investment budget to PLN 24 million in 2015, compared with PLN 16.8 million last year. In addition, the company is going to improve its offer, "one of the projects which has been implemented is the construction of a city electric bus," Karol Zarajczyk, Ursus CEO said. The R&D facility was established in 2010 and cooperates with the Lublin University of Technology and the Military University of Technology in Warsaw.