Three years have passed since Uniprom bought whole assets of the bankrupt KAP

KAP had its most difficult times during UN-imposed economic sanctions on FR Yugoslavia. During the sanctions (1992-1996), the production was reduced to 13% of designed capacity. During the period 1997–1999 KAP participated with 8.2–6.7% in GDP of Montenegro, and 65–67% in export for the same period.

Most of the time, the KAP acquired necessary raw materials and spare parts from Glencore. The entire export was also conducted by Glencore. The company was one of the few Montenegrin companies to recover after the breakup of Yugoslavia.

On 1 December 2005, KAP was privatized. 65.4394% shares were sold to Salomon Enterprises Limited (later renamed CEAC – Central European Aluminum Company), a company based in Cyprus, for €48.5 million and obligations to invest over €50 million in its modernization and environmental upgrade. CEAC is fully owned by En+ Group

In May 2006, CEAC said, "various breaches of representations and warranties" of the deal were discovered by accountants Deloitte, including KAP having "hidden" debts and obligations towards the state totalling tens of millions of euros. In addition, the government-certified 2004 accounts were deemed inaccurate when it came to working capital and other assets. "It became evident to CEAC that KAP's initial financial situation had been misrepresented," the company claimed.

As of 2008, the KAP has struggled to survive the impact of ongoing economic crisis. The low trading price of aluminium, and expensive production inputs, primarily the electricity and alumina production, have resulted in KAP generating daily losses.

In June 2009, the financial situation at the company had not improved, leaving KAP in danger of being closed by CEAC. The Government, not wanting to see its largest company being shut down, agreed to guarantee a €45 million loan. In exchange, the government would receive half of the stakes owned by CEAC, leaving CEAC with a stake of 29.3%.

On 8 July 2013, KAP officially went bankrupt, having up to that point accumulated a debt of 383 million euros, while the company itself is worth 180 million euros.

Pursuant to the Contract on sale of KAP's assets dated 10 June 2014, Uniprom had bought KAP's assets (excluding red mud pond). Uniprom has also been organizing production at KAP in bankruptcy since 19 July 2014.

Consequently, Uniprom did not provided any legal guarantee to the bankrupt KAP; it had only purchased assets and incorporated it in the newly incorporated Uniprom-KAP (incorporated on 9 April 2014). Being the object of purchase, assets are acquired free of any legal encumbrances.