It was founded on 18 August 1945. The original intention to create an electrical assembly plant was expanded to building a production organisation shortly after founding.
Since 1948, the production programme of terminal blocks began to develop, which has gradually become a bearing programme, and the syndicate has gained a dominant position in the former Czechoslovakia.
In 1992, a transformation of the syndicate to an owner syndicate took place pursuant to Law No. 42/1992 Coll. In the new conditions, a new concept of enterprise and innovation of both the existing production programme and the development of new products is created.