Founded in 1984 and build up until 1986 the factory was established under the name “4th Novembar” by the Ministry of Defense of Former Yugoslavia. The mission of 4th Novembar was manufacturing and developing of mechanical fuses for mortar shells and artillery rockets in cooperation with the Krusik factory in Valievo, Serbia as well as manufacturing all types of pyrotechnical propulsion cartridges, pyrotechnical activation charges and rocket engines for ejection seats for Soviet military aircrafts and helicopters as well as pyrocartridges and rockets engines for the British Martin Baker ejection seats.
Peak of production
During the peak of the production in the late 1980's and early 1990's the company was manufacturing up to 500'000 mortar fuses per year and the number of employees was over 500. 4th Novembar was the largest fuse and pyrotechnics manufacturer of the former Yugoslav Republic and cooperating strongly with all the other military factories.
The hard years of the embargo times during the Balkan conflicts as well as the lack of international cooperations has caused the bankruptcy of the company in the beginning of 2001. During the years 2002 to 2007 the company was held alive with subsidies from the Montenegro government, who in due course came to the decision that only a privatization could bring the company back to life and would ensure the restructuring of the company and allow fresh capital and new technologies to flow into the company.
Privatization and new technologies
On July 31st, 2007 the Swiss registered company BT International Ltd. won the tender for privatization and took over the operational management of the factories on December 20th, 2007. In the process of privatization, the company has been renamed and divided into two companies, TARA Precision Works AD which is the heart of the company with all the metal processing and treatment plant and, TARA Aerospace and Defence Products AD which is covering the military part of the factory and is responsible for assembly and marketing of the final products. New production lines and machinery have been installed, together with a team of highly qualified engineers to operate them.