News

investments for 11 billion ISK in the fishing industry in Eyjafjörður area in just 3 years

Samherji has signed a land lease agreement with Dalvík town for around 23,000 square mtrs of land for a new house in Dalvík. The agreement is a major step towards a new and more advanced operation of Samherji in Dalvík. The transfer of Samherji's operations to the port area also creates opportunities for Dalvik town to organize the area in a way that benefits the community as a whole. Samherji's investment in housing and equipment is estimated around 3,500 million ISK.

Norsk Sjømat has increased its stake to 60,1 percent in the Norwegian fishery group Nergård. Samherji has at the same time increased its stake to 39,9 percent. The companies are looking to invest in processing, manufacturing and development of new whitefish products in Northern Norway.

We are very pleased to be able to inform you that the Icelandic Central Bank has finally admitted that its allegations against Samherji’s subsidiary, Kaldbakur ehf. were unfounded. Consequently the Central Bank has dropped the case, after an investigation lasting for nearly 60 months. It should be mentioned at this point that the case related to two bank transfers, one of which amounted to 1,500 NOK (ISK 19,700), cf. accompanying section from a letter written by the Governor of the Central Bank. The company had complied with the bank’s request and submitted all documentation required by the bank. Thus, these documents were not confiscated in the house search. On the basis of those documents, the bank submitted two charges to the police.

With this decision, the Central Bank has finally closed its cases against Samherji and affiliated companies. An unresolved issue, however, relates to a nullification case currently being conducted in the Reykjavík District Court with regard to an inappropriate fine imposed on Samherji by the Central Bank in September this year. We remain optimistic that this case, also, will be concluded as a complete victory for us. 

Dear colleagues,

It is my pleasure to announce that Samherji hf. has employed Mr. Jon Rafn Ragnarsson as its new Chief Financial Officer.

Jon Rafn is born in 1979 in Reykjavik. He graduated with a MSc. in Business from the University of Iceland in 2003 and became a state authorised public accountant in 2006. Jon Rafn has been with Deloitte for the past 15 years and a partner since 2008. Alongside his work with Deloitte Jon Rafn has been active within the Institute of State Authorized Public Accountants and been a teaching Management Accounting and Auditing at Reykjavik University for ten years.

Jon Rafn's spouse is Mrs. Ellen Maria Sveinbjörnsdottir, MSc. in Business from the University of Iceland. She is born in 1975 in Arendal in Norway and together they have two young children. Jon Rafn also has two children from a previous relationship. 

Jon Rafn will begin working for Samherji hf. soon and the family will move to Akureyri this summer. To begin with Jon Rafn will work alongside Sigursteinn Ingvarsson. 

We welcome Jon Rafn on board our team and his family to Akureyri. 

Best regards,

Thorsteinn Mar

A new house was taken into use last November at the premises of Útgerðarfélag Akureyringa (ÚA). One year passed from when a decision was made to demolish the old barracks and construct a new building, until it was ready for use. "The new building is a very good addition to the factory here. The facility is designed to meet the strictest requirements for future processing of fish. This spacious house, has new automatic packing lines for both fresh and frozen products as well as a temperature controlled delivery hall, which contributes considerably to the handling of the products. It has taken time to adjust and learn to use all the new equipment, but the staff has been very positive and determined to make things work.“ said Gestur Geirsson, Director of Land based production of Samherji.

The new house was open to the public on 20^th of December, at the same time as the Samherji community grants were announced. On this occasion Thorsteinn Már Baldvinsson CEO said that he was in many ways satisfied with the year that was coming to an end. "With this new building and the changes in the processing of our products, we are taking big steps in changing the future, with more options than ever before, of serving our customers with a wider range of products. Útgerðarfélag Akureyringa employs about 150 people, whose work adds a considerable value to the product. One of the goals of these changes was to reduce the number of jobs that are physically demanding and to increase the safety and welfare of our staff. In that respect this project has been successful. With these changes, we continue to lead in fishing and processing of whitefish, not just in Iceland but in the world."

With this letter, the Board of Directors of Samherji hf.,  on behalf of the company and associated parties (jointly referred to as Samherji), requests that the Supervisory Board of the Central Bank of Iceland launch an inquiry into the administrative practices of the bank, its Board of Directors and other members of staff, with regard to currency controls, with particular reference to search of premises, investigation, communication, charges and media coverage, as handled by the Central Bank (referred to as the Central Bank or the bank) with regard to matters relating to Samherji.
This request is submitted with reference to the provisions of Act No. 36/2001 on the Central Bank of Iceland,  Article 28 of which stipulates that the bank’s Supervisory Board shall ensure that the bank operates in accordance with the laws governing its activities.
It must be regarded as beyond all doubt that this stipulation comprises a wide-ranging obligation to ensure that the administration of the Central Bank complies with the law of the land in the execution of its duties and adheres to the provisions embodied in the Administrative Procedures Act as well as in other aspects of the law.

Dear staff members

The Central Bank’s case against the Samherji management has been dismissed 
The conclusion of the case is that no punishable offence has been committed
The Central Bank’s allegations and search of premises had no foundation
The Central Bank must accept responsibility

Last week, the office of special prosecutor dismissed a legal case against myself and a number of Samherji employees. A letter from the prosecutor’s office contains the following statement: "To be precise, it was concluded by the Office that the results of the case investigation regarding alleged misdemeanours and related incidents did not indicate the eventual possibility of a conceivable personal criminal liability [mine] or that of other individuals accused of alleged breaches relating to the case. For this reason alone the office terminated its processing of alleged breaches relating to the case, since lack of evidence sufficed to exclude a potential criminal prosecution with regard to the alleged offences." 
I am particularly grateful to receive this outcome, at long last, after an investigation lasting close to four years. I feel this conclusion represents a significant victory for us and a recognition of our professional integrity in our work. I have repeatedly made known our readiness to cooperate in the clearing up of this case and I have never excluded the possibility that mistakes might have been made at some point. On the other hand, I have always maintained that we conducted our operation in good faith. This matter could have been clarified much sooner if the Central Bank had so wished. It would appear, however, that a relentless effort was maintained to find a weakness in our operation in order to justify the harsh beginning of this investigation.

Samherji's German subsidiaries, Icefresh GmbH in Frankfurt and Cuxhavener Reederei GmbH in Cuxhaven have acquired a 20% share in the Norwegian company Nergaard AS, which is one of the largest
seafood companies in Norway.

Nergaard AS has a long history in the Norwegian fisheries and is an integrated fishery group whose business activities include fishing, processing and sale of seafood products. The group operates
five trawlers and a few production companies in North Norway, with headquarters in Tromsø. The yearly turnover of Nergaard has been close to 35 billion ISK per year and it´s processing
factories have processed nearly 50,000 tons of whitefish and 100,000 tons of pelagic fish per year. The company's products include frozen and fresh ground fish, salted fish, dried fish, frozen
herring, capelin and mackerel.

Samherji began participation in the German seafood industry in 1994. The operations have been successful, operating trawlers fishing in the North Atlantic. Director of the German fishing enterprises
is Haraldur Grétarsson.

Icefresh GmbH was founded in Cuxhaven in 2004 with the purpose of processing and marketing fresh fish for the German market. The company has grown rapidly and has acquired a strong position in the
German market for fresh fish. In 2012 Icefresh moved all its activities to Frankfurt. This year´s turnover is estimated around 10 billion ISK and processed raw materials around 15,000 tons. The
company's growth has been remarkable and investment in Nergård is a logical continuation since over 80% of the turnover stems from Norwegian fish and fish landed in Norway. The MD of Icefresh
GmbH is Sigmundur Andrésson.

Samherji welcomes the guests of the Great Fish Day to Dalvik Saturday August 10th. The great Fish Day gives everybody a chance to come together, have fun and enjoy seafood,
everything of no charge to the guests.