Is Zetor Tractor Company Headed for Bankruptcy?

[Cabinholler]

I have heard that the Zetor tractor company might be headed for bankruptcy, because they owe so much money. Does anyone know for sure, if this is true or false? I had been thinking about buying a new Zetor tractor, but not for sure now. If they do go bankrupt, could a person still get parts for them or not. Zetor suppose to come out with a new line of tractors for 2005, but I don't know for sure when they will be in the United States, or if they really are going to come out with these new line of tractors for 2005 are not.

A reply to this message would be most appreciated. Thanks!

Cabinholler

 

[jmc]

A Google search of Zetor Tractor bankruptcy shows a cause for concern.

 

[Dargo]

From an article published 2/4/05:

Tractor maker Zetor on verge of bankruptcy again
The Brno-based tractor producer Zetor is reportedly balancing on the verge of bankruptcy again. The firm ZKL filed for Zetor bankruptcy because of an overdue 23-million-crown receivable. Zetor was acquired by Slovak company HTC holding for 310 million crowns in 2002. HTC had averted the previous threat of bankruptcy against Zetor having bought all claims after the company. HTC holding said earlier that Zetor expected a moderate profit for last year, with sales expected at around 2.7 billion.

 

[CajunRider]

I've read the same thing about Zetor and have asked the same question in this forum. Frankly I am not too concerned. No company with a 2.7 billion in sale and is showing profit is going to be ditched any time soon. Particularly when the company got a pretty solid reputation like Zetor.

Just ask your self this, do you fly or do business with Continental? United Airline? Those companies at one time or another went into bankruptcy.

As for me, I will take the info into consideration, but that will not be a make or break factor.

 

[Chipperman]

Cabinholler
Zetor is not headed for bankruptcy. I have read the article that has been mentioned here on TBN. Zetor went thru a bankruptcy a number of years ago. HTC bought them as a bankrupt company. They have gone from loses to profits which continue to grow. I do not know the status of the creditor that filed the motion or weather or not they are an old creditor (pre-bankruptcy). I would be more concerned with some of the new comers to the tractor market then one who has survived for close to 60 years. As for the new line of tractors, come to the National Farm Machinery Show this week in Louisville. See the Proxima’s on display for your self. I will try to post some pictures later in the week.
Happy Tractoring
Chipperman /forums/images/graemlins/smile.gif /forums/images/graemlins/smile.gif

 

[BarryinMN]

I looked at the Zetor history before I wrote the check for a new tractor last year. It did not bother me. Zetor was also developing new products. A company in decay cuts R&D investment first then stops new capital investment in operations.

My perspective was (is) Zetor is growing & reaching, not in decline living off it's depreciation expense.

I was in Hungary (opposite side of Danube) a decade ago at several businesses. They were just starting privatization.

One happened to be a very large communist dairy farm. The communist party member (commune leader) was having fits over cash flow, P&L, the difference between an asset and expense!! Was all a foreign language to him!

To manage the farm he simply followed orders: Moscow would order a 1,000 head of cattle. He would schedule a train & ship 1,000 cattle. In return Moscow would send seed, machinery, construction materials etc..

Paying cash for inputs was bizzare! How to divide up the land, machinery, buildings, what ratio to field hand vs the cook??

The local phone company stumbled badly. Getting a land line had a 20 year wait. Wireless peddlers started showing up & you could get a phone instantly for $500. Then you got busy signals. Then added microwave repeaters... smart cards, wireless ATM's, electronic payroll.

A 25 year technology leap in 5. It was not error free by any stretch!

 

[carluman]

Zetor the company makes the larger tractors in Czech. If you are thinking of the Zetor by Century then you need to look at Kukje that manufactures the tractor in S Korea. Just wanted to add that info for anyone that reads this that may not know.

Sorry for any bad spelling there /forums/images/graemlins/wink.gif

 

[BBarbour]

I heard not long after I bought my 4341 in 2003 that John Deere bought out this old Chek. company. True or not? I don't see any comments to that regard so did I hear wrong?

 

[Chipperman]

NOT TRUE
For a number of years Zetor painted some of their tractors Green and sold them to Deere. Deere sold them in Mexico. South America and elswhere but not in US. They have not done that for a number of years.
Zetor is doing very well. They have paid off the goverment loan and are operating profitably.
Happy Tractoring
Chipperman /forums/images/graemlins/smile.gif /forums/images/graemlins/smile.gif