The company was established by Austrian and Hungarian investors in 1923 as Company specialized in wagons repair and manufacture. In the first years of the company, the primary activity is related to the overhaul and repair of vehicles and freight cars, at time is increased the use of quality in production technology by simultaneously extending the product range, which resulted in start of production of steel construction, metal consumer products, and products for use in the military industry.
After the World war II, the company was nationalized and repaired from war damage. It was named in a memorial of the date when Kruševac was liberated from Nazi occupation in 1944. The company has oriented to production of construction, mining, agriculture and transportation, machinery and equipment for the purpose of manufacturing equipment and machine parts. It was one of the largest producer of heavy machinery in former Yugoslavia.
Then in October 2017 the company was bought-out from bankruptcy and has continued since in its activities within the MSM GROUP with the focus on the production of bodies for large-gauge production, spare parts for agricultural equipment, conveyor systems and other project-based engineering production according to customers´ requirements.