Company Vision
Economic growth in Iceland over the past decade has in part been driven by major construction projects. Further development in the field of heavy industry began in the middle of the last decade, and has continued unabated since. The State and municipalities have been closely involved in developing infrastructures that have been implemented by private companies. In this environment companies grew significantly, and has created the operational strength within Mannvit Engineering. Projects have also changed whereby consulting work has become larger and more complex, which demands a much greater diversity of services.
All indications point to ongoing development in the country in all of the company's areas of expertise, including continued growth in energy production and industry. However, Iceland experiences economic swings just as other countries, and emphasis on development shifts. Over the long-run it is necessary to look at larger markets in order to ensure stability in operations, distribute risk and continue to expand. In this connection, Mannvit has a clear strategy of expansion in global markets.
Opportunities internationally are most favourable in those fields where the company enjoys a strong and unique position. Experience must also be recent to have appeal, and Iceland's image in specific areas is of great advantage in this connection. The market must believe that this small nation along the upper reaches of the North Atlantic can actually offer valuable knowledge to the global community.
These opportunities are primarily connected to fields in Iceland that have been experiencing major development for more than a decade - the utilization of green energy on the one hand, and the aluminium industry on the other. Here we are forging ahead through two companies: Geysir Green Energy (GGE) in the field of energy, and HRV ehf. in the aluminium industry as well as power. Consulting work has already begun abroad in both of these areas, and opportunities for future expansion in these fields have never been greater.
Where do we come from?
Decades of extensive experience in numerous fields of expertise, along with multifaceted operations and ongoing expansion, have culminated in the formation of Iceland's largest engineering firm.
Where are we going?
Our objective is to continue taking on ever-larger and more complex projects in domestic as well as global markets.
Sigurður St. Arnalds
Chairman