Company was founded in 1957. The first products were long parallel drills with straight shank. In the same year company started producing drills with taper shank. In 1957 the company employed 275 peopel and produced 110588 drill bits with straight shank Ø 2.00 - 10.00 mm.

1960-1965 was a significant increase in production capacity. During this period was launched new products, new technological processes. The number of employees increased from 731 to 2278 employees.

Since 1965 was manufactured long, jobber and stub series length standard and special twist drills with straight shank and also centre drills. In 1966 was absorbed long special drills production and in 1968 was established small drill bits department which produced Ø 0.25 - 1.55mm drill bits.

In 1979 was implemented the new technology, developed and produced more than 40 original machine tools, vending machines and semiautomatic devices.

1981-1989 company specialized in producing Ø 0.35 - 45.00 mm twist drills and Ø 4.00 - 14.00 mm auger drills from HSS/HSSCo for drilling metal, Ø 0.40 - 2.00 mm small drills from carbide, also drill sets for household, spare parts for agricultural machines and equipment to produce drills. In 1988 company acquired the necessary equipment and started manufacturing mills which are designed for drilling and milling the holes of various configurations in the profiles of light alloys and plastics.

1996 on March 6 after the general meeting of shareholders was decided to establish a joint stock company GRĄŽTAI. Since 2003 the company's main shareholder is ŽŪB Džeirana.

During the 1957-2003 was produced 1,000,000,000 drill bits.

In 2002 was implemented the quality management system according to ISO 9001:2000 standard.

In 2006 company has won „Lithuanian Product of the Year“ silver medal award at the exhibition of the lithuanian confederation of industrialists.

In 2007 company began construction work on the thermal treatment workshop in Raseiniai. After completing the construction, the initial manufacturing process has been moved to Raseiniai.

Since 2010 CEO of the company was Darius Ulickas who was elected to the Seimas of the Republic of Lithuania with Darbo Partija in 2012.

Currently the company has 74 employees, and the CEO is Valdemaras Jacikas.