The history of the Lublin-based “FS HOLDING” Spółka Akcyjna (a joint-stock company) company dates back to as far as the 1950s. It was then that this state-owned car manufacturing plant established itself on the map of Lublin. Initially, the plant manufactured “Lublin 51” trucks under a Soviet license. Nearly 8 years later, the Lublin-based factory launched the production of its flagship model – the Żuk. Little do people know, however, that the cars made in Poland were successfully exported to Egypt, to name only one example. This helped the Lublin brand establish its reputation. In fact, by 1973, it had become one of the leaders in the Polish automotive industry, producing almost 40% of all automobiles in Poland!

Established in 1995, a joint venture with Daewoo helped revive these glorious traditions and re-instate Lublin as an economically vital region. Soon Poland's roads began to be frequented by cars that would, in a short time, become symbols of the nation's automotive industry: the Daewoo Nexia (assembled in Lublin since 1995), the Musso and the Korando. It was also then that, over a period of several years, the PSA-designed Peugeot 406 was assembled there. As well as assembling whole automobiles, the plant manufactured car parts: springs, wheels and drive axles – all of which would be successfully used by other manufacturers in the country.

Since 1995, the rest of the property that wasn’t used for car manufacturing became the base for the “FS HOLDING” business activities, its strategy being to build a robust holding organisation.

Some of the notable projects that the “FS Holding” Capital Group companies have carried out on the local market in recent years include:


  • the construction of university dormitories at Chodźki and Langiewicza Str. in Lublin,
  • the construction of an office and commercial building complex at Czechowska Str. in Lublin,
  • the construction of residential buildings at Domeyki Str, and also at Partyzantów Str. in Puławy,
  • the overhaul of the old, historic tenement house at Krakowskie Przedmieście Str. in Lublin.


In 2004, the company merged with Lubelskie Przedsiębiorstwo Przemysłu Drewnego (the Lublin Timber Industry Company, LPPD). What proved pivotal, though, was the decision in 2007 to commercialise and convert LPPD into an entirely public company (a company wholly owned by the State Treasury). This later resulted in the State Treasury transferring “FS HOLDING” S.A. stock to Agencja Rozwoju Przemysłu S.A. (Industrial Development Agency), which in 2010, placed 85 percent of the stock with Zamknięty Fundusz Inwestycyjny MARS (a closed-end fund).

The remaining 15 percent was granted to the employees.