The Jugoturbina factory was established by a decision of the Government of the FNRJ on July 24, 1949. under the name Tvornica “Edvard Kardelj” and was registered with the financial administration of the JNA in the register of military companies. By the decision of the Supervisory Board of the city of Karlovac from 31.03.1954. The decision of the Workers’ Council of the factory to change the name “Edvard Kardelj” to “Jugoturbina” – Turbine and Machine Factory Karlovac was accepted on Later, in the same year, on December 15, 1954. The name was changed to – Jugoturbina – factory of steam turbines and diesel engines Karlovac, based in Karlovac, Mrzlo Polje 155, which was later changed to Mala Švarča 155. The name of the factory was changed again by the decision of the workers’ council on 23.05.1969. Since then, the full name of the factory – Jugoturbina – factory of steam turbines for diesel engines and pumps Karlovac.