Mynd: Gísli Eyjólfsson
Company for an icehouse
In 1896, around 600 people lived in Vestmannaeyjar (the Westman Islands). The era of the so-called "line fishing" came rapidly, and everyone wanted to obtain lines, which had previously been condemned. The main catch using lines included cod, ling, and tusk. Herring, the great bait, was not an option as it was difficult to store without proper cold storage facilities. Fishermen built turf and stone huts and collected snow and ice during the winter. In these huts, the herring was stored if it became available. Around the turn of the century, such huts could be found all over Heimaey. On the other hand, there was little snow in the winters back then compared to now, and people often had to work hard to gather it and move it to the huts. It quickly became clear to people that storage facilities like these were not likely to be successful in the long run. Icehouses, similar to the more well-known ones, were what the people of the Westman Islands needed to acquire.
On Sunday, September 15, 1901, a general meeting was held in the trading post (kaupfélag) to discuss the construction of an icehouse. The meeting was well attended, and it was clear that people had a significant interest in the matter. After some discussion, 45 attendees volunteered to contribute capital for the establishment of a company for the icehouse. In total, they gathered 1,400 Icelandic krónur. A five-member committee was elected to prepare the establishment of the company and explore the construction of the icehouse. These were prominent individuals of their time: Magnús Jónsson, Sigurður Sigurfinnsson, Gísli Lárusson, Magnús Guðmundsson, and Árni Filippusson.
On December 1st, a founding meeting was announced where the company's articles of association, subscriptions, and other matters were approved,
and cost estimates for the icehouse, and the first board of directors was elected. In this board, the following individuals were elected: Þorsteinn
Jónsson, the county doctor; Árni Filippusson, the accountant; and Gísli J. Johnsen, the businessman. The alternate member was Magnús Guðmundsson, a fisherman.
Men at work in an icehouse in Reykjavik. Photo: Magnús Ólafsson
Högni Sigurðsson, a farmer in Heiði, was the first employee of Ísfélagið, an icehouse manager in a part-time capacity. He was the first machine operator in Iceland to drive a freezer machine and went to Denmark to learn those skills in an incredibly short time. Högni worked for Ísfélagið until 1928.
Gísli J. Johnsen was the chairman of Ísfélag Vestmannaeyja in its early years and played a significant role in the company's growth during its first decade. He frequently loaned large sums of money from his own funds to support the company. He stepped down from the presidency in 1927.
Clipping from the newspaper Morgunblaðið on Tuesday, January 10, 1950.
The meat and provisions trade of Ísfélag around 1950.
Einar Sigurjonsson was born on January 7, 1920, in Vestmannaeyjar, Iceland. He received mechanical training and also attended the Sports School in Haukadal in 1939. He obtained his junior fisherman's certificate from the Navigation School in Reykjavik in 1943. Initially, Einar worked at sea as an engineer for other fishing companies before venturing into boat ownership with his partners in 1945. They engaged in fishing and fish processing until 1956 when Einar began working at Ísfélag Vestmannaeyja.
He also served on the boards of several companies related to the fishing industry, most notably as a director of Sölumiðstöðvar Hraðfrystihúsanna. Einar passed away in 1998. His spouse was Hrefna Sigurðardóttir.
The revolution in 1956-1957
After significant efforts to strengthen the finances of the company, it was decided at the annual meeting just before the New Year's of 1956/1957 to replace most of the board of directors. The company had invested heavily in machinery and equipment, but there was a lack of raw materials for processing. Einar Sigurjónsson was asked to take the lead as the managing director of Ísfélag Vestmannaeyja by the new board of directors at the end of 1956, and he held this position until 1987. He also became the vice-chairman of the board in 1963. The tasks were not easy, as Ísfélag Vestmannaeyja had faced significant operational challenges for several years. With a dedicated workforce, new shareholders, and under Einar's leadership, the company managed to turn its operations around and become one of the strongest in the industry.
only a few years later.
The appointment of Einar as the CEO of Ísfélag marked a turning point in its operations and, with great dedication, he secured the foundation upon which Ísfélag stands to this day.
Björn was born on June 24, 1915, and passed away on June 24, 1992, at the age of 76. Björn completed his studies at the Samvinnuskóli and started his business career early on.
in Vestmannaeyjar and was also involved in fishing and fish processing. He served as the chairman of the Fishermen's Association.
of Vestmannaeyjar and the Boat Owners' Association of Vestmannaeyjar. He served on the board of Ísfélagið from 1957 and became its chairman in 1960, holding that position for over 20 years. Björn was married to Sigurjóna Ólafsdóttir.
Throughout Björn's leadership, Ísfélagið thrived and became prosperous. With his considerable wisdom, he managed to guide the company through various challenges, including the aftermath of the volcanic eruption in 1973 and financial and operational difficulties.
In the early 1980s, where Ísfélagið faced financial and operational challenges, leading to the layoff of all employees effective from August 1, 1980. However, processing operations resumed on August 22 of the same year.
Image: Sigurgeir Jónasson
Brynjar VE 321 sails past the headquarters of Ísfélagið at Kirkjusandur in Reykjavik. Image: Loftur Ásgeirsson.
Hraðfrystistöð Vestmannaeyja succumbs to the lava on March 27, 1973. Part of this building now houses FES. Image: Sigurgeir Jónasson
Jóhann Arngrímur Jóns began working at Hraðfrystistöð Þórshafnar as an office manager in 1976 and took over as managing director two years later. He retired at the end of 2001 after 25 years of service. Jóhann was born in Þórshöfn in 1955 and grew up there. He started his studies at Bifröst University in 1973 and completed his degree in 1975. Jóhann served on the local council of Þórshafnarhreppur from 1982 to 1998, was a member of the harbor committee of Þórshöfn for many years, and sat on various other committees on behalf of the municipality. He also served in the Icelandic Parliament (Alþingi) for the Association for Equality and Solidarity from 1989 to 1990. During Jóhann's time in leadership, the fishing industry experienced significant changes. Traditional bottom fishing faced challenges, while offshore fishing adopted technological advancements at sea and on land. In 1986, Hraðfrystistöð Þórshafnar decided to transform the company and participate in this development. Jóhann, along with other residents of Northern Iceland, played a pioneering role in Icelandic fishing in the Barents Sea. These efforts laid the foundation for the fishing rights that Iceland holds in the Barents Sea today.
Eyjólfur Martinsson, Rósa Martinsdóttir, and Einar Sigurjónsson at the Ísfélagið office in the eighties.
When Einar retired as the CEO in 1987, Eyjólfur took over from him. Eyjólfur initially started working at Ísfélagið in 1961 and worked there in various roles until his passing, with his last years as an accountant. Eyjólfur passed away on December 17, 2011, at the age of 74.
The merger of Hraðfrystistöð Vestmannaeyja and Ísfélag Vestmannaeyja
The merger of Ísfélag Vestmannaeyja hf., Bergur Huginn hf., and Hraðfrystistöð Vestmannaeyja resulted in the formation of a larger seafood company, Ísfélag Vestmannaeyja hf., on January 1, 1992. Sigurður Einarsson became the CEO, having previously served as the CEO of Hraðfrystistöð Vestmannaeyja since 1975. The new company adopted the logo of the Hraðfrystistöð Vestmannaeyja, which featured horseshoes. This merger made Ísfélag Vestmannaeyja the largest seafood company in Iceland, with a quota of 12,500 tonnes of cod equivalents, and it had control over two fish processing factories, a fishmeal factory, fishnet production, freezer trawlers, and three ground fish vessels, six vessels and three pelagis vessels. The merger aimed to increase efficiency in fishing and processing. Despite initial cooperation between Sigurður and Magnús Kristinsson, the Assistant CEO, their collaboration eventually broke down, and Magnús took over the management of Bergur-Huginn in a new direction. Nevertheless, both companies thrived more than ever before. Image: Sigurgeir Jónasson
The vessel Antares VE arrived at Ísfélag Vestmannaeyja in April 1996 with Sigurður Einarsson, Grímur Jón Grímsson the skipper and Magnús Kristinsson. Image: Sigurgeir Jónasson.
Sigurður Einarsson arrived in Vestmannaeyjar in 1974 to take over Hraðfrystistöð Vestmannaeyja. The company's freezing facilities had been buried under lava during the eruption, and significant reconstruction work lay ahead. Giving up was not an option; they had to press on. The company's freezing facilities were rebuilt at Strandvegur 102, where the main operations are conducted today. Einar Sigurðsson, Sigurður's father, owned Hraðfrystistöðina but he ran businesses all over the country. The Hraðfrystistöðin in Vestmannaeyjar and the Hraðfrystistöðin in Reykjavík were the busiest. In 1977, Ágúst, Sigurður's brother, took over Hraðfrystistöðin in Reykjavík and ran it there until it merged with Granda hf. in 1990.
Sigurður quickly earned the trust and respect of his peers despite being young in years. He was much younger than other business leaders at the time, only 25 years old. It didn't take long for him to become one of the senior figures in the business community, whether in Vestmannaeyjar or on the mainland.
Sigurður played a significant role in the community and was involved in both community activities and local politics. He served on the town council for the Independence Party from 1986 to 1994 and ran for office again in 1998 when he led the Independence Party's list to victory. It must be quite unique for a person as sociable as Sigurður to lead a political party's list and achieve victory with nearly 60% support without a single dissenting vote.
Around the New Year of 1991/92, significant mergers took place in Vestmannaeyjar in the aftermath of difficulties in the fishing industry. Fiskiðjan and Vinnslustöðin merged under the name Vinnslustöðin, while Ísfélagið and Hraðfrystistöðin merged under the name Ísfélags Vestmannaeyja. Under Sigurður's leadership as the managing director of the merged company, the company successfully navigated through the challenges that were prevalent in the local economy of Vestmannaeyjar. The company became strong under his guidance, and the foundation was laid for substantial investments in pelagic fishing, even though the cod fish were never too far away. Today, the company holds fishing quotas for almost all species caught in Icelandic waters.
Sigurður was a diligent leader, well-organized, and he didn't waste time on unnecessary matters. As the mayor of the town council, he managed to shorten meetings from almost two hours to 23 minutes without compromising the council's work. He approached all tasks with dedication, efficiency, and a commitment to finding solutions. He was fair but also a stickler for following through on matters.
Sigurður was a devoted family man. He was married to Guðbjörg M. Matthíasdóttir, the current majority owner of Ísfélags Vestmannaeyja, and together they had four sons: Einar, Sigurð, Magnús, and Kristin. All of them have worked for the company in one capacity or another and have contributed to its operations in various ways. After Sigurður's passing, the family has continued to build up the company as its largest shareholders. The company has made significant investments both at sea and on land, with impressive freezing facilities and ships bearing witness to their efforts. It's truly remarkable to think about how much Sigurður Einarsson achieved in his short life. He passed away on October 4, 2000, at the age of 49, following a brief illness.
Image: Árni Sæberg
Ægir Páll Friðbertsson, CEO of Ísfélag, 2001-2010. - Image: Óskar Pétur Friðriksson
From the signing of the purchase agreement for the fishing company and the trawler Dala-Rafn in 2014.
- Image: Eyþór Harðarson
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