HB Grandi

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HB Grandi
Type Public OMX
Industry Fishing industry
Headquarters Reykjavík, Iceland
Key people Kristján Loftsson, Chairman
Vilhjálmur Vilhjálmsson, CEO
Products Various seafood products
Operating income Increase US$ 225.5 million (2011)
Employees 920
Website www.hbgrandi.com

HB Grandi is one of the largest fishing and fish processing company in Iceland. HB Grandi's headquarters are in Reykjavík where its office and groundfish production are located. The company also runs fish processing plants in two other towns in Iceland, Akranes and Vopnafjörður. The company formed in 2004 when Grandi from Reykjavík acquired Haraldur Böðvarsson from Akranes.[1] Later that year, the company acquired Tangi from Vopnafjörður and Svanur RE-45.

The company currently operates three freezing vessels, four wetfish trawlers and four pelagic vessels and runs fish processing plants in Reykjavík, Akranes and Vopnafjörður. HB Grandi markets its products worldwide, products made from both groundfish and pelagic fish caught and processed by the company. In 2013 the company was awarded the Icelandic Presidential export award.[2]

HB Grandi is a publicly traded company on the Main Market of NASDAQ OMX Iceland, having over 2.700 shareholders. The biggest sharheolder is Vogun, a venture capital fund, currently owning 33,5% but owned 40,3% before the company moved from the First North Market to the Main Market. The second largest is Arion Bank, which owns 12,1% down from 33,2%. Pension funds have also become prominent among shareholders as seven of Iceland's pension funds rank among the 20 largest shareholders.[3]

Groundfish operations[edit]

Groundfish production Norðurgarður[edit]

One of HB Grandi‘s production facility is located in Nordurgardur in Reykjavik. The facility is specalised in in the production of saithe and redfish. The facility produces both fresh products that are shipped via flight or by sea as well as landfrozen products. The processing facility in Nordurgardur employs 170 persons and processed around 19.000 tons of raw material in 2013. The main office of the company is also located in the same building as the processing plant. The main office is divided into four offices with fifty employees; financial department, marketing department, groundfish department and pelagic department.

Groundfish production Akranes[edit]

At Akranes HB Grandi operates another groundfish processing plant. The plant specializes in the processing of cod, producing loins and tails and fillets. As in Nordurgardur the Akranes facility produces both fresh products that are shipped daily via flight or sea as well as frozen products. The plant employs 85 persons and used 4.800 of raw material in 2013. However because of the company‘s increased land production the Akaranes plant will process a great deal more of material in 2014.

Wetfish trawlers[edit]

HB Grandi operates four wetfish trawlers and together they provide the company‘s two groundfish plants with fish. The trawlers catch cod, saithe and redfish. In 2013 the company operated three wetfish trawlers with a total of 19.000 tons of catch. At the end of 2013 HB Grandi's Freezer trawler Helga María was converted into a wetfish trawler, having previously been a freezer trawler.

Frozen at sea[edit]

HB Grandi’s freezer trawlers are large and well equipped vessels that catch and produce Greenland halibut, redfish, cod, haddock, saithe, silver smelt and mackerel as well as various other species. The catch is processed as soon as it comes on board and each species goes through a specific process to ensure quality; size-graded, whole frozen, filleted, IQF or headed and gutted . The result is a great quality product from the pristine and unpolluted sea around Iceland. In 2013 HB Grandi’s five freezer trawlers caught a total of 33.500 tons.

Pelagic operations[edit]

Pelagic production[edit]

HB Grandi operates a powerful freezing plant at Vopnafjördur which is specialized in the processing of pelagic fish; capelin and capelin roe, herring and mackerel. The fish is prepared in a number of way; whole-frozen, headed and gutted, fillets and flaps. Maximum output in the production of frozen whole fish is about 400 tons per day and employs an average of 65 persons, but the staff varies depending on the season. HB Grandi's pelagic plant in Akranes is specialized in the processing of capelin roe. The main period of production for capelin is from January to March, mackerel is processed between July and September and processing of herring is from September to the end of the year.

Pelagic fleet[edit]

The company runs four pelagic vessels, Víkingur AK 100, Lundey, Ingunn AK 150 and Faxi RE 9. The fleet mainly supplies the pelagic plant in Vopnafjörður and in 2013 the total catch was 135.000 tons of capelin, mackerel, herring and blue whiting. In 2013 the company purchased two new pelagic vessels which will be built in Turkey and delivered in 2015.[4]

Fishmeal operations[edit]

Fishmeal production Vopnafjörður[edit]

HB Grandi operates two fish meal plants, one located in Vopnafjörður and the other one in Akranes. The Vopnafjörður plant uses only electricity from renewable energy resources. The plant also has a chemical laboratory which runs chemical analysis of raw materials and products. All raw material is measured for freshness when the pelagic vessels unload their catch. The raw material then goes through a number of studies before it is grouped into quality categories. The species that are processed are capelin, herring, blue whiting and mackerel. The products are mainly used in feed, however the production is also certified for human consumption.

Fishmeal production Akranes[edit]

The company also operates a fishmeal plant in Akranes which processes capelin, capelin off cut and white fish off cut. The total annual work unit of 10 processed around 25,000 tons of raw material in 2013. The plant has two large production lines for pelagic fish that has a capacity of 800 tons per day. There is also a special production line for white fish cutoff from the company's groundfish plant in Reykjavik that only runs on electricity from renewable energy resources and has a capacity of 60 tons per day.

Further productions[edit]

Fish drying[edit]

Laugafiskur was acquired and merged with HB Grandi in 2013. The company was founded in 1988 and is located in Akranes where a staff of 27 produce dried fish products. Laugafiskur has an annual production of 7.500 tonnes of raw material and produces mainly products from cod but haddock and saithe are also a substantial part of the production. The main products are fish heads, bones and cutlets. Laugafiskur exports mainly to Nigeria, where there is a long standing tradition for dried fish products. Laugafiskur has built up a strong brand and is known for outstanding quality.

Roe production[edit]

Vignir G Jonsson is a family run company, founded 1970 in England, was acquired by HB Grandi in 2013. The company specializes in all kinds of products made out of fish-roe. Main products are made out of cod roe, lumpfish roe, saithe roe, capelin roe, haddock roe, flying fish roe and salmon roe. Today Vignir G. Jonsson employs 45 people and has an annual production of 1500 tonnes, which is sold to 15 different countries in Europe and North America.

International and national certifications[edit]

Iceland Responsible Fisheries logo of origin and certification[edit]

HB Grandi is a member of Iceland Responsible Fisheries, which indicates Icelandic origin of fish catches in Icelandic waters and responsible fisheries management. It refers to Icelandic origin and to the Statement on Responsible Fisheries in Iceland. The logo provides opportunities for stakeholders in the value chain of Icelandic seafood to highlight Icelandic origin. Icelandic fishing vessel owners, processing plants as well as other stakeholders in the value chain of Icelandic seafood products can apply for a permit to use the logo. The logo can be used on packaging of products produced from catch of Icelandic seafood or in advertisements.[5]

Iceland Responsible Fisheries also has certifications for certain fish species which confirms responsible fisheries management and good treatment of marine resources.[6] The certificate is approved by the certification body Global Trust Certification Ltd. The fish species that have so far received the Iceland Responsible Fisheries certification are; redfish, cod and saithe and haddock.[7]

Festa - Icelandic Center for Corporate Social Responsibility[edit]

In January 2014, HB Grandi joined Festa, the Icelandic Center for Corporate Social Responsibility (CSR).[8] The aim of Festa is to be a knowledge center for CSR in Iceland, promote discussion on CSR, support companies implementing CSR strategies and cooperation with international CSR centers.[9]

FEMAS[edit]

Both of HB Grandi's fishmeal plants have the FEMAS certification. FEMAS was established to assure the safety of feed materials entering the livestock food chain. It covers products such as food processing industry by-products, waste products and minerals and can be extended to imported agricultural commodities (unless produced to an equivalent scheme).[10] The scheme is audited and certified by an independent certification body, in accordance with the internationally recognised standard EN45011 (also known as ISO Guide 65). This means that the certification body is itself independently assessed every year to ensure that the standard is implemented and administered consistently and fairly.[11]

MSC[edit]

In June 2014 HB Grandi received 'Chain of custody' certification from the Marine Stewardship Council(MSC). The certification means that consumers and seafood buyers can have confidence that the fish they are buying comes from a fishery that meets the MSC environmental standard for sustainable fishing.[12] HB Grandi has complete certification for three species; cod, haddock and saithe as well as redfish being under MSC assessment.[13]

See also[edit]

References[edit]

  1. ^ "Grandi og Haraldur Böðvarsson sameinast í HB Granda". mbl.is. 2004-04-28. Retrieved 2014-01-01. 
  2. ^ "HB Grandi hlaut útflutningsverðlaun forseta Íslands". mbl.is. 2014-04-10. Retrieved 2014-01-01. 
  3. ^ "HB Grandi HB Grandi - NASDAQ OMX NORDIC". Nasdaq OMX Nordic. Retrieved 2014-05-05. 
  4. ^ "HB Grandi kaupir tvö ný skip". visir.is. 2013-09-16. Retrieved 2014-01-01. 
  5. ^ "Iceland Responsible Fisheries for the benefit of future generations". Iceland Responsible Fisheries. Retrieved 2014-05-21. 
  6. ^ "Iceland Responsible Fisheries for the benefit of future generations". Iceland Responsible Fisheries. Retrieved 2014-05-21. 
  7. ^ "Iceland Responsible Fisheries for the benefit of future generations | Certification bodies". Iceland Responsible Fisheries. Retrieved 2014-05-21. 
  8. ^ "Highlighting Corporate Social Responsibility - HB Grandi joins Festa". HB Grandi. Retrieved 2014-05-21. 
  9. ^ "About us". Festa. Retrieved 2014-05-21. 
  10. ^ "Feed Materials Assurance Scheme". Soil Association Certification. Retrieved 2014-05-21. 
  11. ^ "About FEMAS - Trade Insurance". Agricultural Industries Confederation. Retrieved 2014-05-21. 
  12. ^ "MSC chain of custody". MSC. Retrieved 2014-09-19. 
  13. ^ "Supplier Directory". MSC. Retrieved 2014-09-19. 

External links[edit]