Exceptional Production Flexibility

Icelandic fish producer Vísir, a new subsidiary of Síldarvinnslan

ounded in 1965 in the bustling fishing town of Grindavík, Iceland, Vísir grew into one of the leading long-line fishing companies in the country. Today, Vísir operates four vessels within the catch limit system and two boats in a hook catch limit, and has two state-of-the-art processing facilities in Grindavík.

Originally a family business, Vísir is run by Pétur Hafsteinn Pálsson who remains at the helm after the company’s acquisition by Síldarvinnslan hf, a leading fisheries company in Iceland, in 2022. The headquarters remain in Grindavík, with Vísir becoming a subsidiary of Síldarvinnslan.

Strength in numbers

“The merger has been an opportunity to strengthen our position as a leading producer of sustainable seafood products,” says Pétur Hafsteinn Pálsson CEO of Vísir. “Both companies share a passion for preserving the health of the oceans and ensuring that the seafood we produce is of the highest quality. As a subsidiary of Síldarvinnslan, we are committed to providing seafood products that are sustainably sourced. The integration of our expertise and reputation for sustainability will help us to achieve our goals and provide a strong foundation for future growth together.”

Vertically integrated approach

At Vísir, fishing responsibility and cutting-edge processing are the priorities. Their vertically integrated approach, combining fishing, processing, and sales and marketing, allows them to trace all their products from the fishing grounds to the final product. Vísir’s stateof-the-art production facilities are designed to produce both salted and lightly salted fillets and splitted, as well as fresh and frozen products.

The company offers a diverse selection of premium fish products made from the finest raw materials, including cod, haddock, tusk, ling, blue ling, catfish, redfish, Pacific cod, and now saithe. Vísir’s fish products are highly sought after, with their primary markets for salted fish being Southern Europe, particularly Spain, Italy, Greece, and Portugal. The main markets for frozen and fresh fish are the United States, Britain, and Northern Europe.

Expanded product range

At Vísir, they take sustainable utilization of fishing stocks seriously. Vísir operated three long-liners and one trawler prior to the Síldarvinnslan acquisition. The acquisition will provide expanded access to raw material for Vísir’s land-based production facilities. “Our company has built a reputation for offering specialized fishing services, with a focus on line-fishing and flexible processing. By partnering with Síldarvinnslan, we have now expanded our production range with access to more raw material. This allows us to better serve a wider range of customers,” explains Pálsson. “We have increased our saithe production and access to other groundfish species has also expanded. These additions offer even more options to our customers and increases our overall flexibility.”

Unique production flexibility

According to Pálsson, the company’s strength lies in its greater flexibility compared to many producers. The company is capable of easily shifting focus between product categories. On a daily basis, they are able to adjust to different cuts of fresh, frozen, salted or lightly salted products, depending on the status of the raw materials and customer orders.

“In the salting facility we produce salted and light-salted fish and can easily adjust between sizes when we’re processing the catch. One size is well suited for filleting and another for splitting, and we can easily play with that,” says Pálsson. “In our other facility we can easily switch freezing and processing for fresh based on the market at any given time. We can prepare for each order when the catch comes in and then simply adjust our raw material processing between different cuts and fresh or frozen in any combination within the same day. No one that I know of has this capability of being able to distribute the raw material between such diverse processes depending on type, size, freshness and customer order status.”

Innovative processing plant design

Flexibility can be costly for some fish producers but Vísir has not observed any changes in performance or effectiveness as a result of the current practices. “Our adaptability doesn’t come with a high cost due to our innovative processing plant design,” Pálsson explains. “We have collaborated with top-notch fish processing equipment makers and now operate cutting-edge facilities that cater to our clients’ needs quickly and efficiently.”

Good employees support flexibility

It takes both technology and people to run a successful operation. Vísir has been fortunate in employing a strong group of skilled workers and experienced fishermen. “Our workforce is extremely competent, from our experienced fishermen to our factory workers,” says Pálsson.

“They have proven to be highly dependable and adaptable with extensive experience in various aspects of production. This allows us to be flexible and deliver exceptional service to our clients.”

As the fishing industry is rapidly advancing, jobs are becoming increasingly technical. This has transformed the nature of many positions in the fishing industry, making it more technologically advanced and providing better working conditions. A new generation of employees is entering the industry as a result. “We are encouraged by the rising number of young, highly educated individuals entering the fishing industry,” explains Pálsson. “They bring a diverse range of knowledge and expertise, ensuring a bright future for the industry as a whole.”

Science for sustainability

The seafood industry needs to stay sustainable and support global sustainability measures. Icelandic fishing companies and seafood producers support less energy consumption in every step of the value chain and better raw material utilization. This requires cooperation and individuals with diverse backgrounds and abilities. “We are fortunate to observe an increase in job opportunities where science blends with traditional seafood processing practices,” explains Pálsson. “One example is our collaboration with Brim hf, Samherji hf, Þorbjörn hf, and Juncá Gelatines on a marine collagen plant that utilizes fish skin to produce marine collagen for health and nutraceutical products worldwide. This project adds to our sustainability efforts by utilizing underused resources from the fishing sector.”

Future possibilities in salmon

The ongoing development of salmon farming in the southwestern region of the Iceland presents significant opportunities for Vísir. “Our processing capabilities in Grindavík can be optimized by sharing technology between the processing of whitefish and salmon,” says Pálsson. “We are following the trend and have taken the first steps in this direction with a spontaneous project that came our way. We were able to assist a salmon producer that needed packing services by converting our third facility in a matter of days. This particular project was impromptu but salmon processing services will likely play a growing role in our future processing activities.”

Next generation processing

“A major transition has already occurred within our organization and we are poised for continued success in the coming years. I have spent most of my career here and as the second-generation employee, I am proud to see the third generation already actively contributing to the company,” says Pálsson. “Our collaboration with our parent company is a testament to our strength as a dynamic, family-owned business partnered with a market leader. Our advantages and strengths will only continue to grow as both companies have a solid foundation, stability, and a promising future. By working together, we are able to offer our customers exceptional products, dependable service and unparalleled flexibility.”

The future looks bright for Vísir and the Icelandic seafood industry as a whole, and the flexible, high-tech approach of processors like Vísir is a testament to the continued success of the sector.