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About the Company
The Icelandic Sales Agency
The company was founded in 1970. Its founder, Bjarni V. Magn˙sson, had as his main objective the improvement of tertiary services to the Icelandic fisheries and fish processing industries. Export and sales of seafood products and the importation of industry related machinery came to be the two main operations of the newly founded company.

The Icelandic Sales Agency started out in a small office on AusturstrŠti 17. In the early years, there were few employees; nevertheless, foundations for the company’s future focus were already being laid. Back then, export procedures for seafood products were very one-sided. In-fact, monopolization ruled the business; most producers were partners in big sales associations, to which they were contractually tied, and subsequently they were unable to sell their products to whomever they wanted. In addition, authorities were well disposed towards these sales associations, and therefore it could often prove very difficult to obtain export licenses at any given time.

Bjarni V. Magnusson, who, at this time, was 46 years of age had had quite some experience in seafood exports, was not inclined to give up all that easily. Effectively establishing personal business relationships, both at home and abroad, he slowly but surely managed to break down the monopoly and the prevailing conservatism. It had always been Magnusson’s credo to increase freedom of action in seafood exports, while, simultaneously, ensuring and protecting the producers’s interests. Ever from its early and humble beginnings, the Icelandic Sales Agency has been fighting at the front lines of the export business and eventually managed to establish itself as a powerful export agent of seafood products.

In 1970, the Icelandic business environment was rather primitive. Only a limited number of overseas telephone lines existed and a great deal of business had to be conducted by mail, though telex was used more widely. It was Magnusson’s idea to run a little company in this environment, making the most of its niche status. However, technological progress and free trade were to slowly alter all these initial premises. When Bjarni Magnusson died in 2000, he had come to see his company establish itself as one of the largest independent export companies in the country, with a turnover of 4,5bn ISK (55 Million Euros).

Operations of the Icelandic Sales Agency

For the first four years, the Company’s offices were in AusturstrŠti. In that time, operations had considerably grown and it became necessary to look for new office locations. The offices were moved to Klapparstig 29. The staff-number rose and the number of contracts to be seen to also increased considerably. Factors such as new markets and new foreign purchasers, more Icelandic producers to be represented, and finally, the added import of industry related machinery demanded a larger company. In 1990, the company had 12 employees on its payroll. However, considerable changes were ahead. In the same year the company moved again to Seljavegi 2. In addition to steady increases in export commissions, over the years, added emphasis had been put on imported machinery. Yet, more import also demanded more services to be provided in that particular field; therefore, The Icelandic sales agency bought an company, Machinery And Services, a old and respected icelandic company working holesale/retail dealing many in machinery of various kinds and the Import division of the Icelandic Sales Agency was to be implemented into this new company. At this point, areas of operation having become clear-cut again, the Icelandic Sales Agency could finally return its focus to its main field of expertise – International sales and marketing of Icelandic seafood products.
In most recent years, the company’s operations have been thriving and growing at a steady rate. Export numbers for frozen, salted and dried products have constantly risen. The company’s current staff of 20 exclusively focus on exporting seafood products, yet, they still adhere to the same initial objectives – provide customers with excellent and reliable services in international sales and marketing of their seafood products.
And now the company has once again found new office premises. A big and bright new office at Krˇkhßls 5F in ReykjvÝk.

Other content

Mission Statement

The Icelandic Sales Agency

Icelandic Sales Agency Board of Directors

Founder of the Icelandic Sales Agency

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