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Ikarus to merge into Mabi-Bus

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Hungary-based bus manufacturer Ikarus Egyedi Autóbusz Gyártó will merge into now Hungarian-owned peer Mabi-Bus, Hungarian daily Világgazdaság reported today.

Ikarus-208 bus in Budapest operating on line 79, as a trolleybus replacement. (Photo: Wikimedia Commons)

The merged company, which will be named Ikarus, will have net assets of HUF 865 million and HUF 3.3 billion in liabilities, which were assumed from Mabi-Bus, Hungarian news agency MTI reported.

Világgazdaság noted that Mabi-Bus was awarded HUF 4 bln from the National Economy Ministry after it won a tender to deliver 20 electric buses to the Budapest Public Transport Company (BKV).

Mabi-Bus used to operate as Nabi (North American Bus Industries), which was established in Hungary in 1992, until Hungarian company evopro purchased the U.S.-based company in 2013. That year evopro bought the factory in Budapest together with NABI Hungary, Ltd. and all its intellectual properties, but without its naming rights, so evopro group formed the new Mabi-Bus Ltd. Today evopro performs its own product development and manufacturing at the Hungarian factory site, according to reports.

Ikarus was established in 1895 in Budapest. By 1973, Ikarus became the worldʼs fourth largest manufacturer, according to reports. The company has been under the ownership of French-Italian Irisbus since Since 1999, according to reports.

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