Fabrika hleba i mleka a.d. Surdulica (BELEX: FHMS) is a Serbia-based food manufacturing and processing company primarily engaged in the production, wholesale, and retail distribution of commercial bakery items and dairy products. Founded in 1984 as an operational unit of PTK Vlasina Produkt and established as an independent enterprise in 1992, the company is headquartered in Surdulica, Serbia, and operates as a subsidiary of Irva Investicije d.o.o. The company organizes its core business operations into two main segments: Bakery Production and Dairy Processing. The company's main products and services comprise fresh bakery goods, including white, semi-white, and specialty grain breads; packaged morning goods, rolls, and yeast pastries; filo dough sheets and pie crusts; traditional savory pastries and baked burek; and sweet confectionery goods; as well as dairy products, including pasteurized fresh milk; sour milk, kefir, and yogurt beverages; fermented sour creams; traditional white brined cheeses; semi-hard cheese blocks; and dairy spreads. In addition to food production facilities equipped with industrial tunnel ovens and milk processing lines, the company provides downstream distribution and retail services, operating a localized network of proprietary grocery shops and specialized dairy restaurants (mlečni restorani), alongside supplying wholesale orders to regional supermarkets and institutional public catering clients such as educational facilities, hospitals, and municipal institutions across the Pčinja District, including Surdulica, Vladičin Han, Vranje, and Vranjska Banja. In recent operational developments, Fabrika hleba i mleka a.d. has engaged in raw material stabilization initiatives, benefiting from targeted local municipal financial and raw material procurement support programs to sustain operational volume and regional food security. The company has also concentrated on modernizing capacity at its central Belo Polje manufacturing facilities, consolidating its agricultural supply agreements with regional milk cooperatives, and maintaining active trading and capital monitoring on the Open Market segment of the Belgrade Stock Exchange.