It was back in 1845 when businessman Ábrahám Ganz decided to establish his Ganz Holding company in Budapest. The production focused on manufacturing of tramways, ships, bridge steel structures and transformers.

In 1959 it was merged with the engineering company MÁVAG (Hungarian Royal Iron-, Steel and MachineWorks), which belonged among the most important Hungarian engineering works back in the day. The new company was named as Ganz-MÁGAV.

After privatization the works were divided into more smaller companies. In 1999 the forging division became independent and Szabadalakító Kovácsüzem Kft. was established. The forge continues with the rich tradition of metal forming to the present day.