The beginning of the steel panel radiators production is initiated at the end of 60ties, when on 03.09.1968 the hall for production of steel panel radiators is opened as a part of the factory for combustion equipment and machinery in town of Gorna Oryahovitsa.
During its long history of development, the factory for production of steel panel radiators has met a lot of changes as in respect of the modernization of the production but also in respect of its name and title.
The production of steel panel radiators has started on line for production of panel radiators "Torzens" , going through more automatic line "Holizens" and reaching up-to-date equipment and technology line of the Swiss company "Schlatter", which is the nowadays technology used by all the radiators manufacturers over Europe.
In year 1998 is established the nowadays company "KORADO-Bulgaria" AD - a subsidiary of the Czech company KORADO,a.s., which is a group of three production units, two of which situated in the Czech republic , Korado a.s. and Licon Heat, and one manufacturing unit in Bulgaria - KORADO -Bulgaria AD and four commercial enterprises (Poland , Germany, Great Britain and Austria).
Huge reconstructions ,technology developments and innovations were done to be reached the required technical standards for steel panel radiators production and the manufactured heating units to be unified by technical characteristics to the units produced in KORADO, a.s, Czech Republic and to comply with the European market requirements. In year 2013 has started the first stage of the modernization, innovation and reconstruction of the existing production and major investment program.
In the production portfolio of KORADO-Bulgaria are included steel plate radiators RADIK, accompanied with bathroom tubular radiators KORALUX , designer heating units KORATHERM, mounting accessories KORAMONT and convectors with natural or optimized convection.
History and tradition
“KORADO -Bulgaria AD is established as a Factory for production of steel plate radiators, the town of Strazhitsa as part of DSO" Metalurgiya".
The Czech company KORADO, a.s. bought the shares of the privatization fund and the 26,4 % part shares of the Ministry of Economy and became the majority shareholder of the entity with 84,8% ownership of the company "LUTCH"AD shares.
Initial certification due to the International Management System ISO 9001.
New management structure and organization of administrative and production activities.
Initiating of the production of new panel radiator with height 554 mm - radiator for reconstructions.
Certification due to the International Management System ISO 9001: 2008 - production and sales of steel panel radiators for water heating, national and international trade.
International Plovdiv Fair - Gold medal and Diploma for exhibit "Steel panel radiator - RADIK KLASIK R".
International Plovdiv Fair - Diploma of the best stand, exhibition and exhibits.
Initiation of stage of modernization and reconstruction of the existing production and facilities. At the end of year 2013 has started the installation of new production equipment.
Capital increase of 4 568 701 BGN, distributed in 4 568 701 common, registered, dematerialized and voting shares, the company capital amounted to 6 202 290 BGN.
Starting operation of the second steel panel radiators production line.
Bulgarian Stock Exchange - Certificate for the issuer with the most significant contribution to the development of the capital market.
Company's capital increased by issue of new emission of 2 884 786 shares, one voting per share and nominal value of 1(one) BGN and the issue value is 2,75 BGN per each. The capital increase was realized by public offering of the newly issued shares after the publication of the Prospectus, approved by the Financial Supervision Commission.
2015 - 2016
Installation of equipment and production line for manufacturing of tubular radiators.
By decision of the Financial Supervision Commission dated 30.01.2015 is registered new issue in amount of 2 576 786 BGN, split into 2 576 786 common, registered, dematerialized and voting shares with nominal value of 1 BGN each, as a result of the capital increasing.
All the shares of the issuer are registered and traded on Standard Equities Segment of the "Bulgarian Stock Exchange - Sofia" AD.