Fabryka Armatur Glucholazy S.A.


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History

HISTORY

Our company was established on the same place where was the factory "Jennert und Schultz - Armaturenfabrik und Eisengiesserei - Ziegenhals", which specialized since 1919 in production of cast iron valves. On 1 st August 1945 that factory was nationalized by Polish Government where they founded a public enterprise called Fabryka Armatur "Głuchołazy". In the 1940s and 1950s our main production comprised industrial fittings which made of cast-iron and also of bronze.

From 1966 - 1972 we developed our factory fast. Old workshops were modernized and we built a new workshop of 7000 sqm and an office building . We equipped our factory with modern machine tools and production equipment. We started to produce new cast steel fittings with nominal pressure NP 4,0; 6,4; 10,0 MPa and also forged steel fittings with pressure NP 40,0 MPa. The company also started to export its products -first to Czechoslovakia. Next we exported our fittings to other countries in Europe, Asia, South and North America and Africa.

From 1972 to 1991 it was a period of further progress of our factory. We modernized stock of machine tools, expanded our product line and we entered into new markets. On 31st December 1991 factory was transformed into Stock Company called Fabryka Armatur "Głuchołazy" S.A. in which 100% of shares belonges to the State Purse. Since December 1995 r. Stock Company have participate in Privatization Programm. III NFI became the leading Fund . After III NFI and XI NFI fusion, the leading Fund became JUPITER.

On July 2002 NFI JUPITER and the other national investment funds had sold own packet ofFAG S.A. shares for commercially Productive Service Business "UNIA" Sp. z o.o. with favour seating in Bialystok, which posses 86% of FAG S.A. shares is now the majority shareholder of FAG S.A.















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