\r\nThe company has recently suffered a number of setbacks, including a reduction in the number of Fokstrot LRVs on order for Moscow, and PKP Intercity\u2019s decision not to exercise an option for additional Dart long-distance EMUs.\r\nSo far this year Pesa has secured orders for its new Elf 2 EMU from three Polish regions, while the cities of Bydgoszcz, Lodz, Gorz\u00f3w, Cz\u0119stochowa and Krakow have ordered a total of 94 LRVs from the company. However, Pesa says it lacks the funds it needs to execute new orders and has also had difficulty obtaining the insurance guarantees necessary for new contracts.\r\n\u201cThis was a long and difficult negotiation,\u201d says Pesa president Mr Robert \u015awiechowicz. \u201cThe contract and the granted credit will enable Pesa to obtain new orders. The next phase is restructuring and further talks with investors. All this will guarantee the stable development of Pesa.\u201d\r\nThe banks have given Pesa until the end of the first quarter of next year to find a strategic investor.