Sæplast was founded at Dalvík, Iceland, in 1984, with the purpose of producing double-walled plastic tubs for storing fish. Immediately achieving an outstandingly strong position on the Icelandic market, the company soon began exporting its products, proving so successful that it won the President of Iceland's Export Award in 1993. During these years the company's success built primarily on know-how on Preserving fish in tubs from the catching to the processing stages and on knowledge and experience in production technology.

The period 1999-2001 brought substantial changes to Sæplast operations. During that period Sæplast acquired three companies abroad, one in Canada and two in Norway, on the one hand producing rotationally molded tubs and on the other hand various types of floats and safety equipment for the marine industries. Acquiring these companies increased Sæplast's turnover fourfold, and the number of overseas employees reached three times that of the personnel in Iceland. Around 40% of turnover was now due to sales to market that Sæplast had previously had no knowledge of i.e. the market of marine industries. Today Sæplast also operates a company manufacturing tubs in India and Spain, along with sales offices, in Rotterdam for Europe, in Hong Kong for Southeast Asia and one in Vancouver, Canada.

Today, Sæplast is actually two companies, on the one hand a company, which produces and sells rotationally molded, double-walled tubs to the food industries, first and foremost to the fishing and fish processing industry, and on the other hand a company, which manufactures various kinds of floats for marine activities. Although the two groups of customers overlap to some extent, the markets are dissimilar and the products fulfil different needs of the customer.

Food Industries
Sæplast has extensive knowledge of the fishing and fish processing industry, not in the least regarding the storage of fish in tubs from catch till processing or to market, along with the handling of the tubs. Sæplast has obtained a very strong market position in Iceland and countries around the North Atlantic, which may be considered as the home market of the company.

Marine Industries
About 40% of all the goods sold and manufactured by Sæplast comprise various sorts of floats for marine industries: floats for fishing gear, floats and buoys for aquaculture, many types of safety equipment for pleasure boats, various kinds of buoys and floats for the off-shore industry and harbour operations, as well as life vests and rings as safety devices. Sæplast holds a strong position in many markets for these goods with its trademarks POLYFORM and SCANMARIN, which are well known in their field.

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