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OBOD Elektroindustrija AD

About the Company

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A Brief Company History

OBOD was founded in 1953 as a trading export-import company, but since 1954 the company started to produce soaps, shoe polishers and other accessories. It was in the same year that the production of fluorescent lighting fittings was initiated.

In 1956, OBOD expands its production scope in the domain of installation materials, electrical measuring apparatuses and smaller electrical appliances.

The year of 1960 is marked by the establishment of a new scope of production, the constituent parts of which were the following: refrigerators, lamps and protection switches.

Its further progress looked like this:

          1968: Electric motors for hermetically sealed compressors factory (with the ASPERA Italy);

          1970: Washing Machines factory (with the INDESIT Italy);

          1978: Chest Freezers factory (with the IBERNA Italy);

          1980: Ice Makers factory (with the IBERNA Italy);

          1980: Combined Refrigerators and Upright Freezers factory (with the BAUKNECHT Germany);

          1981: Wiring components (baskets and grills) factory;

          1981: Factory of thermal condensers;

          1988: Facilities renovation at the Refrigerators factory destroyed by the fire.

From that time on, there were no new plants but there were some reconstructions due to the production range expanding and ruined equipment replacement.

 

New company structure needed

In 2001 Novi OBOD was established as a separate legal subject primary because of some obvious obstacles in old company arouse out of UN sanctions against Yugoslavia at first and later on due to the economy collapse affected all the segments of life in our country. Besides, old OBOD as a huge system proved to be quite unable to survive as a self-sustainable company experiencing great difficulties in last several years. Thanking mainly to Montenegrin Government recognizing importance of such a company not only as far as social living in the community of Cetinje is concerned but on state level, OBOD is kept lived. Meanwhile strong competitors entered market, which is another challenge for OBOD to prove that it is able to overcome in spite of all the problems and regain its previous position.

When new company was built up the idea was that it had to be a sound core composed of plants shown themselves as a corner stone of old Holding system. On the other side, it had to be freed of all outstanding debts, which additionally burdened OBOD.

However, Novi OBOD also shown as an insolvent company, and production stopped again in 2003.

In 2005 the company is reregistered as OBOD Elektroindustrija AD waiting to be overtaken or privatized.

Based on its long experience and good tradition, which is seriously ruined in past decade and more, as well skilled management team supported by all relevant factors in the country and abroad, OBOD would obtain good chances to appear as a modern company complying with high world standards and market demands.

 

Ownership structure

The share in the ownership structure shall be distributed as follows:

          State funds and the Montenegrin Government       39,80%

          TREND fund                                                       32,13%

          Physical persons                                                 28,07%

As the Government of Montenegro claims certain means from OBOD, which could be converted into shares, the state would become owner of more than 75% shares.

 

Location and Premises

The Head Office of the Company, administration and production are situated in Cetinje (Montenegrin old Royal Capital), excepting the Condensers factory located in Berane as well as the Wiring Components factory located in Plav.

Cetinje has very convenient transportation lines:

-          port of Bar is 70 km  away;

-          railway station Podgorica 35 km away;

-          airports Golubovci – Podgorica, and Tivat about 40 km away.

OBOD premises cover an area of about 160,000 m2, from which 60,000 m2 is occupied by production halls and warehouses.

Agency of Montenegro for Economic Restructuring and Foreign Investments

The Government of Montenegro

Download OBOD's existing equipment list

Business cooperation possibilities and attractive points

1.       Buying of a part or the company as a whole.

2.       Production of specific products as per potential partner demands.

3.       Any other way of cooperation found and agreed by both parties.

 

NOTES:

The Government of Montenegro is ready to offer various advantages such as opening of a customs free zone, reduced fees and taxes, etc.

Please also note that that Serbia & Montenegro provides duty free export to the following countries: Bosnia & Herzegovina, Croatia, Macedonia, Albania, Bulgaria, Romania, Russian Federation, and Moldavia.

OBOD Elektroindustrija AD * Bulevar crnogorskih junaka b.b. * Cetinje 81250 * Serbia & Montenegro