On January 1, 1960, in BAS an independent department "Metal Science and Technology of Metals" was founded in connection with a developed new counter pressure casting method patented in 1961 under number 187.
Again on January 1, but in 1967 officially started its existence the Institute of Metal Science and Technology of Metals at BAS. The authors of the counter pressure casting method Academician Angel Balevski and Corresponding member of BAS Ivan Dimov were the founders of the institute.
In 1968 IMTM moved to its current place and the first sod of the new building was turned on 18 November 1966 by the then Director of the institute Academician Angel Balevski.
By decision of the sixty-first General Assembly of BAS from 29 November 1993 on the basis of adopted by the General Assembly of BAS Strategy for restructuring the BAS.
By decision of the sixty-ninth General Assembly of BAS from 13.06.1994, of the Institute of Metal Science, BAS is the status of legal entity that is current at the time.
Decision of the eighth session of the Fourth General assembly of BAS from 20 December 2004 changed the naming of the Institute of the Institute of Metal Science into Institute of Metal Science "Academician A. Balevski".
By minutes of 14.06, 2010, the 38 th session of the V-th General Assembly of BAS, the Institute was renamed the Institute of Metal Science, equipment and technology "Academician Angel Balevski" with the Center for Hydrodynamics - Varna.