Since its establishment, the premises of a large-scale chemical works in Bratislava -- Nové Mesto, has gone through an intricate development. They grew upon foundations of an explosives factory, founded by the eminent Swedish scientist Alfred Nobel in 1873. During the World War II, under the control of a German concern IG Farben, the production expanded considerably. It was accompanied by a massive construction activity in the area. The next significant moment of expansion came after the war, when the new plant -- Závod Mieru -- was founded. It was commissioned to be designed by the architect Vladimír Karfík. Throughout the entire time, it was not just the factory's own site that evolved, but also the adjacent neighbourhoods -- the workers' housing, amenities and infrastructure. At present, the plant premises are in a state of decay, while historical significance is illegible, and the future development course is not clear. The thesis research is focused on values of a dynamite factory -- as a specific type of industrial heritage -- from today's point of view. It examines the issues of physically preserved structures, and their potential in terms of a future territorial re-use. We are searching for the answers using a comparative method of 6 Nobel's dynamite factories in Europe, that were established around the same time as the factory in Bratislava. Their confrontation with the factory in Bratislava, and its evolution since its early period, helps to define the conclusions while identifying the causes of today's condition. The problems are analysed in a wider context that allows us to show, how they need to be addressed in order to grasp the specific issue in its complexity. The thesis identifies particular values of the preserved historical structure in terms of urban and architectural point of view, as well as from a point of a historic and cultural monument. At the same time we are trying to emphasize other aspects that need to be addressed in consideration of sustainable re-use. The aim is not to present a definite solution, but quite the opposite: to point out that the answer could not come from a single field of research. The thesis offers conclusions valid not just for the dynamite factory in Bratislava, but also for problematic industrial heritage sites in general.