The present work analyses the conversion process in the case study of the Kamnik Chemical industry. The purpose of this master's thesis is to find parallels between theoretical frameworks and the actual conversion process. In the introductory conceptualization, the work focuses on the theoretical framework of conversion and connects it with the concepts of disarmament, defense diversification, defense restructuring, and demilitarization. It also focuses on the links between conversion and its impact on the civilian environment, the ecological views of conversion, and its impact on the defense industry and military personnel. In the central part, the main focus is on the chosen case study. The thesis analyses the historical development of the company with an emphasis on the pyrotechnics plant and the transition of the company from public to private ownership. The master's thesis aims to study the substantive problems of conversion on a selected case study. It focuses on the role of the municipality of Kamnik, the Civil Initiative, and the Slovenian Army, which enabled to slowly convert the area back to public goods. The master's thesis is based on the literature from the selected field and intertwined with the qualitative research of important actors in the selected field of a study.