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The history of “Eldominvest”: 35 years in facts

In June the “Capital Buildings, Reconstructions and Modernizations” Department at the “Elprom” factory in Varna was separated into “Perlainvest” enterprise. The main subject of activity of this new structure is designing, constructing and overhauls on construction sites within the structure of the Economic Unit. The Managing Director of the company is Tsvetan Velkovski. “Finance and Accounting”, “Payroll”, “Purchases”, “Designing”, “Production and Technology”, “HR” departments, and a building team were created. The total number of employees is as small as 37 people.

The first years of ELDOMINVEST history are connected with many difficulties and challenges. When the changes of 1989-1990 years come, constructions works in the whole country are at a standstill. There are two possibilities for “Perlainvest”: the enterprise shall either close or a principally new manufacture should start.
The management comes to a decision that a bank should be drawn with view to purchasing an enameling line of the Dutch “Ferro” company, and a welding line of “Cloos” company, Austria. The aim is to start water heaters serial manufacture. The best professionals from “Elprom” – the Bulgaria biggest former manufacturer of water heaters are attracted.
In order that the whole present staff is kept at hand until the water heaters manufacture starts, and to be able to pay off the bank loan, the company employees were being engaged with various activities, including the manufacture of the topical for the Bulgarian market at the time skateboards. 25000 skateboards were manufacture for the period 1989-1991.

The “Cloos” welding line was installed.
The administrative body was built up to the only one at the time workshop, located within the present Production Area 1.

Manufacture started of the first “Heliotherm” water heaters, for innovative sun collectors equipment, designed by Ass.Prof. Mirchev from the Technical University – Varna. At this stage only galvanized water heaters were manufactured.

The first enameled water heater came out of the production line, as a result of 2 years of hard work of assembling, synchronizing and experiments under the leadership of the Chief Engineer Dimiter Golodov (presently Deputy General Manager Production and Technical Activities) “Ferro” professionals invited for the line opening, could not believe that all of this was made only by the Bulgarian professionals themselves.
The first ELDOMINVEST manufactured enameled water heater was presented at the Spring Plovdiv Fair.
In October 1992 the technological unit and organization were established for the country’s first serial manufacture of electric water heaters for the household, of 50, 80 and 120 litres volumes with an enameled water tank and anode protection. The most popular 80 l water heater was the first one to be developed, of a shorter height and less in diameter than the traditional one.
A second Production Area was opened, along with “Weldings and Enameling” and “Mechanical and Assembling” workshops.
The staff already amounted to 103 people.
Production capacity though still as little as 400 pieces per month.

The higher quality of the ELDOMINVEST manufactured family of 50-, 80- and 120-litre water heaters results in the first company “Gold Medal” at the Autumn Plovdiv Fair.

In the beginning of 1994, the manufacture and realization of two new articles started – a semi-automatic washing machine and electric household washing centrifuge.
On the 22nd December 1994 the manufacture of the 100000th water heater was celebrated.

The name of ELDOMINVEST is already known on the whole Bulgarian marker for its 11 water heater modifications produced. Apart from the family of water heaters of 10, 30, 80, 120 litres, the first free flow quick heating water heaters “Gazer” was produced.
Demand outstrips supply. Since 4 in the morning there is a queue of people waiting to purchase the ELDOMINVEST water heaters.
The “water crisis” in Sofia caused a peak in the sale of water heaters.
An orderly servicing structure was developed. The company 58 servicing units throughout the country take care of installation, warranty- and post warranty maintenance. This way customers are facilitated to the maximum.
On 17th April 1995, Joined Stock company ELDOM INVEST-1 AD was established by the management team, 85 workers and employees; the Joined Stock company registered capital comes up to 1347 shares – 1 347 000 levs. This is one of the few examples of a successful worker-management privatization in Bulgaria.

The company property became fully privately owned, by paying off the state share. Within one month the state share was 100% paid off.
On 19th April 1996 a celebration took place for the 200 000th produced water heater.
The company started manufacturing the first Bulgarian 10 l enameled water heater with plastic casing.
The first export of water heaters was made – to Poland and Moldova.

In 1997, 150 and 200 l water heaters were developed and put into production, the same being afterwards combined with serpentines.
The monthly capacity for five years has increased over 10 times – up to 4200 products. The assembly lines were re-arranged for manufacturing the mass 80 l water heaters of various diameters. The share of these models came up to 67% of ELDOMINVEST whole production volume.  
In 1997 the number of employees amounted to 197 people.

In the beginning of 1998, the company started putting into operation of a Quality Securing System. On 19th May 1998 ELDOMINVEST achieved the ISO9002:1994 International Standard Certificate. ELDOMINVEST was the first Bulgarian company manufacturer of kitchen electrical appliances to have this Certificate.
The company started manufacturing the first instantaneous water heaters and 150 and 200 l water heaters.
The company got a Diploma and a Gold Medal for the family of electric household water heaters at the Spring International Plovdiv Fair’1998.

In 1999 the company completed the investment program to the company privatization contract with the state.
Storage facilities were enlarged, and the administrative building and the workers’ canteen were built up. The ELDOMINVEST new trade and administrative centre was opened on 29th October 1999, by a ceremonial blessing.

The large volume water heaters of 300 l, 400 l and 500 l were developed and put into production.

Since March 2001, the company operations were completely re-structured, new structural units were established. The company activities were differentiated into three main divisions: Technical, Production and Development, Finance, Economical and Trading, Marketing and Advertising.
The export sales already went to six European countries.
The first small vessel water heaters left ELDOMINVEST production lines.

A long term investment program started, aiming at increasing the production capacity in order to meet the increased market demand. The main focus is one technological renovation.
The company launched three models of fireplaces: “Monolith”, “Quadra” and “Quazer”.
In December 2002, after a pre-registration audit carried out by the world largest control and certification service SGS – Bulgaria EOOD, the ELDOMINVEST quality management system  was certified by ISO 9001:2000.
In 2002, ELDOMINVEST staff came up to 263 people.
In 2002, 8000 pcs of water heaters of over 50 modifications were manufactured.
Since 2002 and up till now is ELDOMINVEST in the Top 10 companies in Varna.

The first mini cookers were produced at ELDOMINVEST, of them the first Bulgarian cookers with glass ceramic cook-top and the first Bulgarian cookers of Energy class “A”.
The electrical mini cooker model was awarded a Diploma and a Gold medal at the Autumn International Fair – Plovdiv 2003.

The first 1000 l water heater was manufactured.
ELDOMINVEST was awarded a Diploma for investment policy and for winning new market niches and a successful competitiveness issued by the Bulgarian Chamber of Commerce, as well as an honorary Diploma for an innovative enterprise of the year by the Ministry of Economy , the “Applied Research and Communications” Fund and the World Bank.
A substantial enlargement was made to Production area 2, by building up a new workshop. The efficient production area was increased by almost 2000 square meters.

A second workshop was constructed within ELDOMINVEST Production area 1, of 2000 square meters built-up area. The company acquires a new storage facility, the present Production area 3.
The new series of energy saving water heaters came out of production, of a modern design that had not been produced in the country before. They were launched in Bulgaria under the trade name “Diplomat Ocean”.  
The company manufactured the first Bulgarian water heaters with electronic control.
Export to the USA started.

ELDOMINVEST water heater number 1 000 000 was manufactured.
Investments amounting to over 10 000 000 levs were made within the period 2002 through 2006.
The company export market in 2006 covered ten countries in Europe.
240 000 appliances were manufactured for the local and the export markets.
ELDOMINVEST started manufacturing water heaters with corrugated stainless steel serpentines - heat exchange in them increased by 15%.

New production and storage facilities were constructed of a total area of 4 000 square meters.
Modernization of the production equipment in Area 2 went on: new presses, welding robots, a ground coat unit, enameling furnaces, a new painting unit.
In August, the regular operation started in Production area 1 of a highly efficient welding line comprising robots and last generation automatic devices.
A modern powder enameling conveyer was put into operation for the family of electrical water heaters of 30 up to 120 l volumes. It was fully automatic and including all processes: water tanks blasting, powder enameling and kiln firing of the water tanks.
New series of ELDOMINVEST products were launched on the market: instantaneous water heaters ß, new models of standing water heaters of 150 up to 1000 l volumes and water heaters with electronic control.

New cutting out machines were put into operation: a precise co-ordinate die-cutting machine and a CNC controlled guillotine.
The process of complete replacement of the company vehicles was completed. The transport department was already able to deliver production toe each point in Europe.
Since August all models of electrical water heaters were certified in compliance with the Russian Standard “GOST R”.
Production started of a new series of glass ceramic cook-tops for building in. These were certified by “Inter Testing Services” ETL product quality sign for compliance with the high requirements of the American UL858 and the Canadian CAN/CSA-C22.2 standards. Also in 2008, SEMKO allowed that the ELDOMINVEST manufactured built-in glass ceramic cook-tops were marked by the СЕ sign for compliance with the requirements of the EU and the European Council LVD and EMC directives.

In spite of the crisis, the implementation of ELDOMINVEST long-term investment program continued. In the beginning of the year a modern highly efficient time conveyor for assembly of the 30 up to 120 l water heaters family.
The building up of a new pipe heaters workshop was completed.
In the end of the summer the production lines mounting was completed, including machines, robots and last generation automatic devices.
In October the new Production area 3 was opened and the mass production was started of electric pipe heaters of various capacities, shapes and lengths.

The first flat and vacuum-pipe sun collectors - Eldom Green Line - came out on the market. The ELDOMINVEST quality management system was re-certified in compliance with the International ISO 9001:2008 standard.

ELDOMINVEST presented their new product groups: thermosiphonic systems, buffer vessels, and 5, 10 and 15 l water heaters;

The company today exports its products to 30 countries on 4 continents.
Thanks to the modernization carried out and the newly built production units ELDOMINVEST annual capacity to date comes up to 500 000 articles. The company is one of the few European manufacturers of 1000 l volume enameled water heaters.
In order to ensure a reliable warranty and post warranty servicing, ELDOMINVEST maintains 102 servicing centres throughout the country.
Directed by Mr. Tzvetan Velkovski, there are over 450 professionals currently working at the company.

In springtime ELDOMINVEST promoted its new family of instantaneous water heaters ELDOM. The series includes models for installation over kitchen sinks with different power and mixing batteries.

In fulfilling its innovation program aimed at the utilization of alternative energy sources, ELDOMINVEST also markets high-capacity heat pump systems. They operate in both heating and cooling mode.

In June, the company commissioned into operation a modern line for the production of energy-saving water heaters with a capacity of 30 to 2 000 liters. With this investment worth 5.5 million BGN, ELDOMINVEST has completed the next phase of its long-term technology upgrade program.

On February 10, the Investment Agency distinguished ELDOMINVEST in the category Investing in Innovative Business. The prize was awarded by the Deputy Prime Minister and the Minister of Education and Science Meglena Kuneva.
Today, the company exports its products to over 30 countries on 4 continents.
Thanks to the modernization and the construction of new production areas, ELDOMINVEST annual production capacity is currently 500 000 items. The company is one of the few European producers of enamel coated water heaters with a capacity of 2000 liters.
In order to provide reliable warranty and post warranty service, ELDOMINVEST maintains 108 service centers in the country.
Under the present leadership of engineer Yonka Velkovska - Georgieva, more than 540 specialists work in the company.

In 2017 Eldominvest celebrates its 30th anniversary. On the anniversary occasion in Plant №1 is commissioned into operation a modern line for manufacturing energy-saving electric water heaters with volume from 30 to 120 liters. The new models water heaters have in addition impressive design. Together with attached technological equipment the value of the investment exceeded 2.7 million BGN.
In line with the stringent European environmental requirements, within this, important for our company year, we have completely renewed the design of the standing ELDOM water heaters with heat exchangers and capacity from 120 to 2000 liters.
By the end of the summer, new wall-mounted convectors ELDOM with constructive innovations allowing optimum convection and comfort with minimum energy consumption, are put on the market.

As an innovative and high-tech company, ELDOMINVEST started implementing the Internet of Things concept in ELDOM products. After two years of laboratory testing, we commercialized the first ELDOM appliances entirely controlled using Internet. These are wall-mounted convector heaters, electric water heaters and combined water heaters with one or two heat exchangers. The free app myELDOM has been adapted to ensure the smooth operation of all operating systems and mobile devices.

In April, an innovative FAMS (Flexible Automated Manufacturing System) was commissioned in Plant 1 of ELDOMINVEST for the manufacture of external covers. The project is co-financed under Operational Program "Innovation and Competitiveness" BG16RFOP002-1.001 and the cost is BGN 2.75 million.

Near Varna, ELDOINVEST opened a modern logistics hub to accumulate and distribute load flows for Bulgaria and the scores of export markets. The investment costs amount to BGN 5.5 million.

In order to ensure reliable after-sales service, ELDOMINVEST maintains a network of 108 service centers in the country. Today, the company exports its products to more than 30 countries on 4 continents.

The first ELDOM Galant water heaters with slim design and two water tanks left the production lines of ELDOMINVEST. They feature a unique Powerful mode, electronic smart control and WI-FI control of all functions.

In line with the trends for alternative energy sources ELDOMINVEST brought on the market new models of combination water heaters specially designed for heat pump and solar systems. These water heaters feature concentric large coils, with collector connections at the inlet and outlet.
A pleasant surprise for the heating season is the new line of stylish and innovative convector heaters ELDOM Galant. They are available in a variety of models for wall and floor mounting.  

A new high performance welding line started mass production in Plant No. 1. It increased the production capacity in electrical water heaters by 30%.
Experts of R&D Department of ELDOINVEST started working on the ambitious research and development project ‘Innovative System for Photovoltaic Direct Heating of Water Tanks’. The project is co-financed by the National Innovation Fund.



In the jubilee for ELDOMINVEST 2022, in which the company crlrbrated its 35th anniversary, an ambitious investment program worth BGN 8.2 million was completed. It includes the implementation of robotic and highly automated lines in all three areas in Varna, which increased the capacity for the production of energy saving appliances and water heaters and buffer tanks using renewable energy sources.

As a responsible company, on the occasion of its 35th anniversary, ELDOMINVEST organized a national eco-initiative "You buy ELDOM appliance - together we plant a tree!". As a result of the afforestation actions, 28 100 saplings were planted in different regions of the country on a total area of 59 decares. With the team effort of volunteers, partners and employees of ELDOMINVEST, eight new ELDOM forests are already located on the map of Bulgaria.

In order to provide reliable warranty and post warranty service, ELDOMINVEST mantains a network of 98 service centers all around the country. Today, the company exports its products to over 30 countries on 4 continents. Over 590 highly qualified specialists are currently employed in the three areas of ELDOMINVEST.