History

The history of Monbat begins in 1959, when the production of lead-acid batteries starts in a state-owned company in Montana, Bulgaria, later privatized in 1998 and has since become the largest battery producer in Eastern Europe with production and recycling plants in five different countries.

1959-1999

Company inception and transition into private sector

Establishment of manufacturing plants

Privatization of the Company

1959

Opening of the starter batteries factory in Montana, Bulgaria, under state ownership


1965


Start Plant established in Dobrich. The facility begins production of lead-acid batteries mainly for export to AvtoVaz in Russia

1983 - 1986

Re-equipment of the production factory with modern machinery in Montana

1992

The Company is filed in the Commercial register under the name AKUMIKAR AD  and headquartered in Mihailovgrad (now Montana)

1998

AKUMIKAR AD is privatized and becomes a private company

1999

Monbat company is certified for compliance with the requirements of ISO 9001

2000-2001

Development of integrated manufacturing

Added recycling capability

Product diversification

2000

Monbat AD completes its first installation for recycling of used lead-acid batteries in Bulgaria

  

2001

Beginning of the production of Absorbent Glass Mat (AGM) batteries in Montana 

2006-2016

Building a pan-European presence

IPO and Company consolidation

Rapid growth

Product diversification

Capacity expansion program

Implementation of a modernisation program

2006

Monbat makes a successful initial public offering /IPO/ of 4 700 000 shares, thus the company acquires the status of a public company

Monbat AD acquires 67% of Start, Dobrich

2008

Monbat AD increases its capital to BGN 39.0m

2010

Net Sales Revenue exceeds EUR 82.31m

The recycling facility in Serbia is opened

2011

The recycling facility in Romania is opened

2012

CAPEX spending on the capacity expansion program amounts to € 3.9m including € 1.1m on recycling facilities

2013

Monbat AD completes an additional € 3.2m investment as part of its capacity expansion program

2014

Additional € 3.3m spending in CAPEX for the new punching technology. In late 2014 a “Fit for Future” programme is initiated to implement incremental improvements in a wide range of activities, such as lean manufacturing, IT modernisation

2015 – 2016

Continuous focus on initiatives related to production capacity expansion: new additional warehouses are built and additional equipment is purchased. A total of
€ 5.5m is spent to increase the production capacity in Start AD ranging of 85% on Y-t-Y basis. A total of € 3m is spent in Monbat AD to increase the production capacity of the plant with 20% YtY. Steps are initiated to obtain technology for production of pure tin

2016

Monbat establishes Energy Batteries Nigeria Limited

2017

Group Expansion

2017

Monbat Economic Group acquires two German companies in Lithium-Ion business of high power cells and systems - Gaia Akkumulatorenwerke GmbH and EAS Germany GmbH, and merges them into EAS Batteries GmbH

Piombifera Italiana S.p.A. – the third biggest batteries recycling company in Italy – becomes part of Monbat Economic Group

2018-2021

Achieving full potential of Monbat

2018 - 2021

Monbat will continue to pursue operational improvements and efficiencies, for which significant scope exists, in order to drive further EBITDA expansion, in addition to its existing business plan