The history of Monbat begins in 1959, when the production of lead-acid batteries starts in a state-owned company in Montana, Bulgaria, later privatized in 1998. In 1999, it grew up in the newly founded Monbat Company and has since become the largest battery producer in Eastern Europe with production and recycling plants in five different countries.


Company inception and transition into private sector

Establishment of manufacturing plants

Privatization of the Company


Opening of the starter batteries factory in Montana, Bulgaria, under state ownership


Start Plant established in Dobrich. The facility begins production of lead-acid batteries mainly for export to AvtoVaz in Russia

1983 - 1986

Re-equipment of the production factory with modern machinery in Montana


The Company is filed in the Commercial register under the name AKUMIKAR AD  and headquartered in Mihailovgrad (now Montana)


AKUMIKAR AD is privatized and becomes a private company


Monbat company is certified for compliance with the requirements of ISO 9001


Development of integrated manufacturing

Added recycling capability

Product diversification


Monbat AD completes its first installation for recycling of used lead-acid batteries in Bulgaria



Beginning of the production of Absorbent Glass Mat (AGM) batteries in Montana 


Building a pan-European presence

IPO and Company consolidation

Rapid growth

Product diversification

Capacity expansion program

Implementation of a modernisation program


Monbat makes a successful initial public offering /IPO/ of 4 700 000 shares, thus the company acquires the status of a public company

Monbat AD acquires 67% of Start, Dobrich


Monbat AD increases its capital to BGN 39.0m


Net Sales Revenue exceeds EUR 82.31m

The recycling facility in Serbia is opened


The recycling facility in Romania is opened


CAPEX spending on the capacity expansion program amounts to € 3.9m including € 1.1m on recycling facilities


Monbat AD completes an additional € 3.2m investment as part of its capacity expansion program


Additional € 3.3m spending in CAPEX for the new punching technology. In late 2014 a “Fit for Future” programme is initiated to implement incremental improvements in a wide range of activities, such as lean manufacturing, IT modernisation

2015 – 2016

Continuous focus on initiatives related to production capacity expansion: new additional warehouses are built and additional equipment is purchased. A total of
€ 5.5m is spent to increase the production capacity in Start AD ranging of 85% on Y-t-Y basis. A total of € 3m is spent in Monbat AD to increase the production capacity of the plant with 20% YtY. Steps are initiated to obtain technology for production of pure tin


Monbat establishes Energy Batteries Nigeria Limited


Group Expansion


Monbat Economic Group acquires two German companies in Lithium-Ion business of high power cells and systems - Gaia Akkumulatorenwerke GmbH and EAS Germany GmbH, and merges them into EAS Batteries GmbH

Piombifera Italiana S.p.A. – the third biggest batteries recycling company in Italy – becomes part of Monbat Economic Group


Monbat Economic Group widens its presence in the South-African market by opening Monbat South Africa Proprietary Ltd.

The company Monbat Batterien in Austria is established


Acquisition of STC S.R.L. as part of developing the high-tech engineering business

Establishing a new company A.R.T.Monbat with focus on the use of the latest nano technologies


Achieving full potential of Monbat

2020 - 2025

Monbat will continue to pursue operational improvements and efficiencies, for which significant scope exists, in order to drive further EBITDA expansion, in addition to its existing business plan