DAIDO METAL KOTOR AD

Daido Metal Kotor AD was founded as a machine parts workshop by the end of 1955, and the production started on February 1, 1956.
Gradually, in order to develop and specialize the firm, it has been decided that, by purchasing a license, a technological level of bearings
production, which represented a part of a production assortment, should be raised. The decision was realized in 1961. when the license
was bought from Trione company, Italy. In this way the factory was equipped and prepared for bearings production by centrifugal casting
technology what represented a progress in relation to the earlier period.

The company was given a new name: Bearing Industry Kotor.

In the period between 1974. and 1976. a license for bimetal strip bearings and bushings was bought from Glyco company, Germany, and
further development of the company was realized. By purchasing the license and through technical cooperation that followed and lasted
several years, the technological level of production was significantly raised and good conditions for further development were created.

The plans were disrupted by the earthquake that shook the area of Montenegrin coast in April 1979, and the idea to relocate the factory
out of the Boka Kotorska Bay became a live issue. It was realized in the period between 1983 and 1987, when the complete factory,
together with the large quantities of new equipment, was moved to a new location, into newly constructed buildings in Kotor Industrial
zone.

During the year of 1995 the transformation of the state capital was carried out and the business organization was registered as the joint
stock company.

In December 2001 the planned bankruptcy proceedings were carried out over Bearing Industry Kotor in order to sell the majority stock
package through tender that was announced on October 1.
In January 2002 the Japanese company Daido Metal Company Ltd., became the owner of the majority stock package (51%), and the
business organization has changed the name into Daido Metal Kotor AD.

In order to create the conditions for OEM production for large West European customers, during the year of 2002 and in the first half of
2003, Daido Metal Co,. Ltd. Japan has carried out the investment into the new equipment and became the owner of around 82 % of
shares.