Following World War II, the authorities decided that the city will be transformed into a major industrial (heavy industry) and manufacturing centre. As a result, numerous large factories and production facilities were built in and around the city. Among the largest were ''Huta Warszawa'' steel works (now Arcelor), the FSO Car Factory and Ursus SA. The FSO, established in 1951, was once Warsaw's most successful corporation. Notable vehicles assembled there over the decades include the Warszawa, Syrena, Fiat 125p and the Polonez. In 1995, the factory was purchased by the South Korean car manufacturer Daewoo, which assembled the Tico, Espero, Nubia, Tacuma, Leganza, Lanos and Matiz there for the European market. The company is now defunct. The Ursus factory opened in 1893 and is still in operation. Throughout its history various machinery was assembled there – motorcycles, military vehicles, trucks and buses. Since World War II it has produced only tractors.