Marel's Management board: COO Sigsteinn Grétarsson, CEO Theo Hoen, and CFO Erik Kaman (Photo: Marel)

COMPANY OF THE WEEK: Marel Celebrates 20 Years Of Trading On The Icelandic Stock Market

Marel (Public, Nasdaq OMX Iceland: MARL), leading global provider of advanced equipment, systems and services for the food processing industry, started out in the late seventies and was formally established in 1983.

The total revenue in 1983 amounted to 20 million ISK (around 127,000 EUR at today’s rates), whereas in 2011 it amounted to EUR 668 million (around 105 billion ISK). Thus the company has grown 5,600-fold, which is equivalent to 35 percent annual growth in ISK.

Marel is the leading global provider of advanced equipment and systems for processing whitefish and salmon

Marel has more than 4,000 employees around the world.

Marel has manufacturing facilities in 16 locations worldwide, offices and subsidiaries in some 30 countries, and operates a network of more than 100 agents and distributors.

Theo Hoen, CEO of Marel, commented: “Listing the company’s shares in 1992 was a significant step, and the market has served Marel well during these 20 years. We now have more than 2,200 shareholders, some of whom have supported the company from the beginning."

"When the company went public, Marel had operations in Canada and the United States, and now we have operations all over the globe. Excellent employees and our emphasis on innovation have driven vigorous internal growth, but the stock exchange listing was pivotal for us to gain access to capital to finance takeovers of good, solid companies. We are very grateful for the continued trust the market has shown us”, said Hoen.

Marel traces its history back to a research project at the University in Iceland where a team of engineers developed a computerised scale for the Icelandic fishing industry. The scales increased efficiency for fish processing both onshore and offshore.

Marel helps processors to meet the challenges of changing times with a wide range of innovative machines and systems that maximises yields, increases throughput, reduces labour costs and optimises product quality

Although Marel’s range of products has grown considerably since then, Marel’s main goal remains the same: to add value and improve efficiency for the company’s customers.

Marel now provides sophisticated equipment for many of the world’s largest food processors in poultry, fish, meat and further processing.

Marel has updated its investor relations website to include information on the company’s development, with videos and graphs charting revenue and employee numbers.

About Marel ehf

Marel is the leading global provider of advanced equipment, systems and services to the fish, meat and poultry industries.

The company’s brands – Marel, Stork Poultry Processing and Townsend Further Processing – are among the most respected in the industry and together, offering the convenience of a single source to meet its customers’ every need.

Marel Headquarters

Source: Marel

Margaret E.L. Stacey
Editor Companies and Products
[email protected]
www.seafood.media

Address:	Austurhraun 9
City:	Gardabaer
State/ZIP:	(IS-210)
Country:	Iceland
Phone:	+354 563 8000
Fax:	+354 563 8001
E-Mail:	[email protected]
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