History of Eldominvest Ltd 20 years facts
1987
Since June, Capital Construction, Reconstruction and Modernization Department of Perla Company are separated as Perlainvest enterprise. Object of activity of the new structure is projecting, construction and basic service of buildings in the Economy Union structure.
Just for a couple of months, considering the management of the Director – Mr. Tsvetan Velkovski, there were formed departments of Finance and Accounting; Labour and Salary; Supply; Projecting; Human Resources and construction brigade, 37 people in total.
1988
Some of the buildings that Perlainvest has worked on are Bazar Charshia – city of Balchik (Bulgaria), Pedagogic Personnel Evaluation Institute “Dr. Petar Beron” – Varna, Bulgaria.
1989
There were many difficulties and challenges during the first years of ELDOMINVEST’s history. In 1989-1990, when Changes came, construction in entire country was in crisis. Then, there were two possibilities for Perlainvest: either to be closed or it had to start completely new production.
The management took decision to draw bank credit, buy enameling line from Dutch company Ferro and welding line from Cloos – Austria. Purpose is starting serial production of water heaters. There were personnel prepared and educated for that.
In order, company to keep the available staff until starting production of electrical water heaters and cover the credit at the same time, employees had to do random type of activities: glazing balconies; production of luggage-grids; tubular tables; shelving; umbrella stands Vilen – export for Germany. This was first product exported by the young company.
For the production of skateboards, what is a hit for the Bulgarian market by that time, company formed a brigade. In the period 1989-1991 they produced 25 000 pcs in two modifications.
1990
The first welding line Cloos was assembled.
Administrative building was constructed next to the only one production hall, by that time, currently in production Area 1.
1991
Company started production of the first water heaters “Heliotherm”, which were a part from complete solar collectors installation projected by associate professor Mirchev with Varna Technical University. At this stage company produced enameled water heaters only.
1992
After 2 years of efforts in assembly, synchronization, and experiments under guidance of the main engineer (presently Deputy Director Technical and Production Activities) Mr. Dimitar Golodov, first water heater came out of the production line. Specialists with Ferro Company were invited for starting the line. They could not believe that everything had been made by Bulgarian specialists only, all by themselves.
The first Bulgarian enameled water heater, made by ELDOMINVEST, was showed at Spring Plovdiv Fair.
In October 1992, ELDOMINVEST found technical base and organization for first production in the country of electrical household water heaters having volume of 50, 80 and 120-literwith enameled water tank and anode protection. First, it was developed the most popular 80-liter water heater, shorter and with larger diameter than the traditional. In ELDOMINVEST they have work name – M1.
Staff became 103 people.
Company separated two production areas and halls “Mechanic & Assembly” and “Welding & Enameling”. Production capacity is barely 400 products per month.
1993
High quality of family water heaters 50, 80 and 120 l made by ELDOMINVEST, led company to their first “Gold Medal” at Autumn Plovdiv Fair.
1994
Since beginning of 1994, ELDOMINVEST started production and realization of two new products semi-automatic washing machine and electrical household centrifuge for clothes.
On 22.12.1994, ELDOMINVEST celebrated production of the 100 000th water heater.
1995
ELDOMINVEST’s name is already known on the Bulgarian market for the production of 11 modifications of water heaters. Except the water heater family 10, 30, 80 and 120 l, company produces also free flow quick heating water heaters “Gazer.
Demand anticipates supply. From 4 o’clock in the morning there is queue of people, who want to buy ELDOMINVEST water heater.
Water crisis in Sofia bring about peak in water heater sales.
ELDOMINVEST developed tidy service structure. 58 service departments in the country take care for installation and maintenance of products in and after warranty period. Customers are facilitated to maximum.
On 17.04.1995 management team and 85 employees established joint stock company ELDOMINVEST-1. Capital for the registration is 1347 shares – 1 347 000 leva. It is one of the few examples for successful worker-management privatization in Bulgaria.
1996
Property becomes completely private, as ELDOMINVEST pays off the government share. 100% of government share is paid off in one-month period.
On 19.04.1996 ELDOMINVEST made party to celebrate 200 000 pcs of water heaters produced.
Company started production of the first Bulgarian 10 l enameled water heater with plastic casing.
First export of water heaters is realized – to Poland and Moldova.
1997
Company developed and introduced in production 150 and 200 l water heaters. Afterwards, those are combined with serpentines.
Monthly production is increased more than 10 times – 4200 products. Assembly lines are rearranged for the production of mass water heaters 80 l having different diameter. These models have 67% share of the total volume of ELDOMINVEST production.
Staff becomes 197 people.
1998
Since beginning of 1998, company starts introduction of providing quality system. On 19.05.1998 ELDOMINVEST got certificate according to the international standard ISO:9002:1994. ELDOMINVEST is the first Bulgarian producer of kitchen electrical appliances, having that certificate.
Company starts production of the first instantaneous water heaters and those 150 and 200 l.
ELDOMINVEST get diploma and gold medal for Family electrical household water heaters – Spring International Fair Plovdiv `1998.
1999
In 1999 ELDOMINVEST successfully completed the investment program to the government contract regarding privatization of the company.
Storage base is increased; administrative building and dining room are constructed. On 29.10.1999 ELDOMINVEST makes dedication ceremony and opens new commercial and administrative centre.
2000
Big volume water heaters 300, 400 and 500 l are developed and introduced in production.
2001
Since March 2001 Company is completely rearranged. New structure departments are found. Company set up their activities in three directions: Technical, Production and Development; Finance, Economic and Commercial; Marketing and Advertisement.
Export sales are in six countries.
First marine water heaters (for installation in boats and yachts) came out of the production lines.
2002
In order to satisfy the raising market needs, company starts long-term investment program purposing production capacity increase. Main accent is put on technical renovation.
ELDOMINVEST put on the market three models of fireplaces: „Monolit”, „Kvadra” è „Kvazer”.
On 17 and 18 of December 2002, the largest worldwide company for control and certificating services SGS-Bulgaria, makes re-register audit and certifies ELDOMINVEST’s quality management system according to ISO 9001:2000.
Staff becomes 263 people.
In 2002, 8000 pcs of water heaters in 50 modifications are produced in one-month period.
Since 2002 ELDOMINVEST has been in top 10 companies in Varna.
2003
ELDOMINVEST start production of mini-cookers, as well as first Bulgarian cookers with glass-ceramic cook-top and energy class “A”
On the Autumn International Plovdiv Fair ‘2003, company gets gold medal for electrical cooker with glass-ceramic cook-top
2004
Company produces the first 1000 l water heater.
Bulgarian Commerce Chamber issues and honors ELDOMINVEST with Diploma for investment policy, conquering new market niches, successful competitiveness. Ministry of Economic, “Applicable explorations and communications” foundation and World Bank, gives honorary diploma to ELDOMINVEST for innovation factory of the year.
Production Area 2 is increased, where new workshop is build. Efficient production area increases with 2000 square meters.
2005
ELDOMINVEST build up second production hall in Area 1. Constructed area is 2000 square meter. Company gets new storage base, currently Area 3.
New series of energy-saving water heaters Eldom IDEA comes out of production. They have modern design, which have not been produced so far in Bulgaria.
ELDOMINVEST produces the first water heaters with electronic control
Starts export to USA.
2006
ELDOMINVEST produces water heater number 1 000000.
Investments for the period 2002-2006 are more than 5 000000 Euro.
Foreign market of ELDOMINVEST in 2006 is in ten European countries.
Total quantity of produced units for export and local market is 240 000.
ELDOMINVEST starts production of water heaters with corrugated serpentines of stainless steel – heat exchanging area increases with 15%.
2007
Considering the 20-year history, ELDOMINVEST achieves reputation of one of the most successful production enterprises, having 70% market share in the country.
Under the management of Mr. Tsvetan Velkovski, today there are 533 specialists working in the factory.
ELDOMINVEST maintains service centers in seventy six cities in the country.
Regarding expanding foreign markets, during the jubilee for ELDOMINVEST year 2007, the Management undertook ambitious investment program. Main purpose of this program is reaching significant increase in factory production capacity by raising labor efficiency and optimizing load flows. Now, company’s specialists work in three basic directions at the same time:
Construction of new production power
Introduction of modern technological development and equipment
New products development
Investment program for 2007 foresees 4 000 square meter increase of production area in factory Area 1 and Area 2, as well as purchase of machines made by worldwide production leaders. Total amount for investment in 2007 will be over 3 000000 Euro.
More than 1 300 000 families and companies in Bulgaria, Europe and USA, have purchased products made by ELDOMINVEST.
Once, planed modernization and construction of new production sites is completed (end of summer) Eldominvest will reach annual production capacity of 500 000 products.
While in 1992 monthly production was barely 400 pcs, now 26 000 products come out of the production lines.
New products, which Eldominvest will put on the market during the year are as follows:
- new instantaneous water heaters Eldom ß, starting in June
- new water heater with electronic control
- new models of water heaters 300 and 400 l
Once, technological process modernization is completed, ELDOMINVEST will be one of the few European producers of enameled water heaters having 1000 l volume.
Motor fleet continuously grows up.
ELDOMINVEST social policy covers free food coupons in both production area dining rooms; annual holidays are planned for everybody at the same time in the summer; Medical Service Department – free prophylactic medical examinations; free anti-flue vaccine, company clothes and etc. In 2007 ELDOMINVEST will open up library for technical and art literature.
Quality Management System requires staff to be competent, trained and has qualification needed. For that reason the company yearly organizes five different trainings: for new employees; raising qualification; supervisor profession training; service work specialist training; quality system training. In 2007 it was found special training staff department.
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