Native name Фабрика резног алата Headquarters Čačak Founded 1 June 1953 Net income 170,000 EUR (2013) Type Public limited company | Traded as BELEX: FRCA Area served Worldwide Revenue 3.01 million EUR (2013) Number of employees 595 (2013) Total assets 32.72 million EUR (2013) | |
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Key people Milan Vidaković (General director) Products | ||
Fabrika reznog alata (abbr. FRA; full legal name: Akcionarsko društvo Fabrika reznog alata Čačak) is a Serbian tool manufacturing company. Its headquarters is in Čačak, Serbia. With around 600 employees, it is one of the largest enterprises in the Moravica District.
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History
Founded on 1 June 1953, the company originally focused on the production of carvers and taps. Since 1960, the company expanded its production to other threading tools, and tools for working openings and cutters. In the 1970s, the company was reorganized, and new production programs were established for particular types of tools and plants for production services. In May 1993, the company was at its peak of production, with more than 3350 employees.
Due to the breakup of Yugoslavia and the sanctions which were put into the effect during the 1990s, the company has begun to deteriorate. This is also due to the lack of good subcontractors, lack of investments in production facilities and various lawsuits based on unpaid wages.
However, the company has survived and continued to work in the 2000s with much reduced profitability. With more than 500 employees, it has gone through many financial problems and it is still recovering. In April 2007, it was submitted to the OTC market at the Belgrade Stock Exchange.
Since April 2010, the company is undergoing restructuring. Its main objectives are changes in the internal organization of the company and the clearance of arrears, in order to create conditions for the eventual privatization.
In May 2013, the company celebrated its 60th anniversary.
Activity
The company exports its products to many countries, including the United States, Russia, Iran and Poland.