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History

Feroneria S.A. was set up in Arad in 1924, at the initiative of Carol Grundmann, a famous Austrian industrialist, who took advantage of the strong industrial development of the town, this ranking the fourth in the country during the inter-war period.

In 1968, the company changed its name to IAMMB Arad - Intreprinderea de Articole Metalice pentru Mobilă şi Binale - a name that is very well known locally nowadays as well.

Following the Romanian Revolution from 1989, the name of the company became Feroneria S.A. in 1990, which changed its legal status from state enterprise to a joint stock company (S.A.) through Government Decision no. 1272/08.12.1990.
In 1995, the company was privatised through the MEBO method and through the Mass Privatisation Program, and, in 1996, it was listed on the RASDAQ stock exchange.

Over the years, the company has had a continuous development, benefiting from investment funds from the Romanian state until 1989, after which the development was achieved through a continuous investment program.

Following the political and economic changes from 1989, the company took the opportunity and, through an intelligent development strategy, took part in the setting up of mixed companies, together with important European investors, who brought their know-how and top technologies and led to the achievement of new products that completed the segments that the company had not covered so far. Thus, in 1992, Feroneria took part in the setting up of S.C. Binalia S.A., a company specialised in the manufacture of brass handles, and, in 1997, S.C. Verofer S.A. was set up, specialising in the manufacture of brass safety cylinders.

In over 85 years of activity, the company has consolidated its position, becoming the strongest company in the field in the country. Ranking constantly on first places in the Companies' Top (which the Chamber of Commerce, Industry and Agriculture of Arad county has been drawing up since 1994), the performance of the company is also acknowledged by winning every year the Excellence Trophy, awarded to those companies that ranked among the first 3 in the top in the last 5 years.

At the moment, Feroneria is present with its products and services all over the world, having the mission of developing new generations of products and services in order to fulfil the requirements of a global market in a continuous change.