Yugoturbina factory was founded with FNRJ government's decision year 07. 24. 1949. under the name "Edvard Kardelj" and was registrated at financial administration JNA in register military commercial enterprises in Beograd.

By decision of the Federal Executive Council 02. 06. 1954. the factory was separated from companies that produce for specific JNA needs.

By the decision of the People's Committee of Karlovac year 03. 31. 1954. the decision of the Workers' Council was accepted on factory name change from "Edvard Kardelj" to "Yugoturbina" - turbine and machine factory Karlovac.

The name of the factory was changed again by the decision of the Workers' Council year 05. 23. 1969. and the full name of the factory was "Yugoturbina" - factory of steam turbines, diesel engines and pumps Karlovac