The Adventure of Marel #77849
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The Adventures of Marel. The Startup Company 1983-1999. By Gunnar Þór Bjarnason.
Marel hf. was founded in March 1983 and in the first weeks the company was staffed by two people. By the spring of 2023, the number of employees was around eight thousand in more than 30 countries. In 40 years, Marel had transformed from a start-up company, which focused on applying the latest technology to improve raw material utilization in the fishing industry, into a high-tech giant that manufactured equipment for many branches of the food industry.
How did a small company in Iceland, with no tradition of manufacturing and exporting high-tech products, achieve this success, become a global player, and outpace its competitors? Here is the story up until the end of 1999, when Marel had become a powerful international company. Various obstacles arose along the way, and for a time, nothing but bankruptcy loomed.
The story of Marel is truly a fairy tale and contains valuable lessons for entrepreneurs and start-ups, in fact anyone who is interested in technological development and innovation. At the same time, it reflects national life and the spirit of the times and provides invaluable insight into the industrial and economic development of recent decades in Iceland, the fishing industry, finance, international trade and politics.
Marel hf. was founded in March 1983 and in the first weeks the company was staffed by two people. By the spring of 2023, the number of employees was around eight thousand in more than 30 countries. In 40 years, Marel had transformed from a start-up company, which focused on applying the latest technology to improve raw material utilization in the fishing industry, into a high-tech giant that manufactured equipment for many branches of the food industry.
How did a small company in Iceland, with no tradition of manufacturing and exporting high-tech products, achieve this success, become a global player, and outpace its competitors? Here is the story up until the end of 1999, when Marel had become a powerful international company. Various obstacles arose along the way, and for a time, nothing but bankruptcy loomed.
The story of Marel is truly a fairy tale and contains valuable lessons for entrepreneurs and start-ups, in fact anyone who is interested in technological development and innovation. At the same time, it reflects national life and the spirit of the times and provides invaluable insight into the industrial and economic development of recent decades in Iceland, the fishing industry, finance, international trade and politics.