Iceland review - 2002, Qupperneq 71

Visit www.saeplast.com for further information ICELAND REVIEW 69
SÆPLAST
The past five years have brought tremendous development for
Icelandic plastics company Sæplast Limited. The Dalvík-head-
quartered company, which started serving the fishing industry in
1984, has grown into a network of international plants producing
a variety of products for several sea-related industries.
“We have been changing very much,” reflects Sæplast
President and CEO, Steinthór Ólafsson. Though the company
started out manufacturing plastic tubs, Ólafsson says that
“today, that’s only about half of our business. We have become
involved in a lot of different areas and different products for
similar industries.”
Sæplast’s current range of products includes plastic tubs, pal-
lets, floats, buoys, fenders and pontoons, sold and distributed in
the aquaculture, meat, poultry, agriculture, buoyancy fendering,
recreational boating, and pet food industries. A truly internation-
al presence, Sæplast operates plants and sales offices in Holland,
Hong Kong, Canada, Mexico, Norway, India, and Iceland. In
fact, 90% of Sæplast’s turnover originates outside of Iceland.
Sæplast’s Ólafsson plant in Norway has been among their
quickest to develop. There, Polyform™ and Scanmarine™ buoys
and floats are manufactured and marketed in the recreational
boating, commercial fishing, aquaculture, workboat, and off-
shore processing industries.
“We have seen a lot of synergy between the two groups of
products that we have – the food industry, which is tubs and con-
tainers, and the floating industry,” Ólafsson explains. The natural
relationship between the two has allowed Sæplast to transition
effectively into its new markets.
In 1990, the six-year-old company made its first domestic
acquisition in Akureyri. By 1998, Sæplast India was up and run-
ning, and plants in Canada and Norway were close to follow.
This international expansion was aided by their team’s previous
expertise in exporting products as a domestic company.
To say things are going well for Sæplast is an understatement.
From 1998 to 2001, Sæplast’s annual turnover increased from
500 million IKR to 2,500 million – a 400% gain. Ólafsson recol-
lects that “We were very focused, we knew what we wanted, we
put a lot of effort into it, and we had a good plant in Dalvík to
build on. We had the knowledge about the plastic production, and
we had very dedicated people in the plants. That is what counts.”
Strong international partnerships have been central to
Sæplast’s successful growth. Ólafsson considers Sæplast India a
case-in-point. “We have learned a lot from our relationship with
India,” he reflects. “Everything is very different there, but never-
theless we have succeeded with it. Everything has been smooth.”
Seeing eye-to-eye with his partners is important to Ólafsson.
Why is the plant in India a success? His partner there is “a
Sæplast man”.
As Sæplast evolves, their strong identity, knowledge and
expertise keep them a leader in the fishing industry. In addition
to supplying their customers with state-of-the-art products,
Sæplast’s customers regularly seek their advice in running their
businesses. “We know this process very well,” says Ólafsson.
“That’s why we are ahead of our competitors. We know the fish-
ing business inside and out.”
INSIDE AND OUT:
Sæplast Limited Remains International
Leader in Marine Plastics
Sæplast’s current range of products
includes plastic tubs, pallets, floats,
buoys, fenders and pontoons, sold and
distributed in the aquaculture, meat,
poultry, agriculture, buoyancy fender-
ing, recreational boating, and pet food
industries.
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