VEB Plasticart was established in 1958 in Zschopau, East Germany. VEB (Volkseigener Betrieb) was a Communist-era designation, meaning "company owned by the people". The company was called "KVZ" from 1958-1969, "MPKAB" from 1969-1973, "VEB Plasticart Zschopau" from 1973-1989 and "Mastermodell GmbH" from 1989-1991. After a two-years break the company was sold in 1993 by the German Treuhand (an organization which privatized state owned enterprises of the GDR) to Manfred Wader. It is today called "Plasticart". In 1993 the company had only 37 workers left. A new factory was constructed in Elterlein, Saxony, and now the company counts over 70 workers. They no longer make kits, but playthings for toddlers. In late 2012 German company "Reifra" has resumed production of the some former Plasticalt model kits.