Formation of the present Company Krušik is connected to the year 1937, when the adventurous engineer Nikola Stanković decided to build a factory of armament and ammunition in Valjevo, similar to the one that had already existed in Višegrad. The factory got its first name after the parent factory from Višegrad. Based on the Decision of the Sarajevo Royal Bank, on February 22nd, 1939, the Trade Sector of the Ministry of Trade and Industry issued the permit (Conf. III No. 17) stating that the Company “Vistad” in Valjevo may engage in industrial production of primers. Very soon, the factory took over the monopoly of No. 8 primers production. Shortly after, the Company “Vistad” started the production of hand offensive grenades, infantry rifle ammunition and also the preparation of manufacture of small caliber (12kg) aircraft bombs began. During the Second World War, the Company “Vistad” practically had a decisive role in the supply of war-material products to the battle front.
By transition into the jurisdiction of the Ministry of National Defense on June 10th, 1945, the factory got the name Military-Technical Institute of Valjevo and on January 23rd, 1948, the Company was registered under the name of “Krušik”. 75 years of existence are characterized by alternating periods of growth and stagnation in business activities and company development.
Having in mind the above said, the last decades of Krušik existence may be divided provisionally in four crucial periods:
THE FIRST PERIOD, between 1948 and 1970, is significant for the development of inherited products, but also for the introduction of new programs into the war-material items production. Reorientation of free capacities in military production to the production of civil programs was seen as an especially important activity at this period of time.
THE SECOND PERIOD, between 1975 and 1985, belongs to a decade of investments, development and business expansion of the Company. This period is called the Golden Age of Krušik.
A remarkable 80 million dollar export on annual basis has been achieved, thus enabling intensive modernization of the production programs and service capacities. In this period, Krušik was one of the biggest economic companies in Yugoslavia, with ten thousand employees and the products mostly designated for foreign markets.
Defense production, with its rocket program technologies of high quality, occupies a particular place in the entire system of Krušik, constituting the very backbone of the development function of the Company and export results.
THE THIRD PERIOD in Krušik history started in 1985, along with the occurrence of rapid recession of business dealings, being the result of global changes as well as the collapse of Yugoslavia, and followed by the introduction of sanctions against our country, wars in the region and NATO bombings. Due to interrupted business connections with the world and sudden loss of projects, all the companies within the system found themselves in a difficult position, especially the Defense production. Consequently, all the energy was put into the pursuit of a new organizing system and in 1992 the Company Krušik has been organized as a holding corporation. In the Defense production the focus was on an intensive work on restructuring the part of its capacities aiming at the production of profitable programs for new markets. Accordingly, development and production of anti-hail rockets, electric detonators, cam switches, gas meters and other products was initiated.
Krušik succeeded in implementing the Government’s Social Program and the number of employees had been adjusted to the current level of production.
THE FOURTH PERIOD, ongoing to the day, is the period of widening product assortments by way of introducing new ones into the production, modernizing the existing products in accordance with the market requirements, increasing the number of customers as well as production efficiency, maintaining permanent quality which is one of the features Krušik is widely known for, continuous improvement of personnel, equipment modernization, introduction of new technologies, hiring of young staff, adjustment of production processes and products to environmental requirements, permanent investment in process automation and electronic monitoring.
Holding Corporation Krušik a.d., with its vastly experienced workforce and the name ever-present on the world market, permanently connected with quality, imposed itself as a reliable partner, open for all kinds of cooperation, both in the field of production and development.