Australia markets closed
  • ALL ORDS

    7,441.50
    -48.60 (-0.65%)
     
  • AUD/USD

    0.7136
    -0.0051 (-0.71%)
     
  • ASX 200

    7,139.50
    -36.30 (-0.51%)
     
  • OIL

    85.00
    -0.14 (-0.16%)
     
  • GOLD

    1,839.20
    +7.40 (+0.40%)
     
  • BTC-AUD

    47,374.48
    -3,091.54 (-6.13%)
     
  • CMC Crypto 200

    771.41
    +528.73 (+217.87%)
     

Skeljungur hf.: Three subsidiaries launched

·2-min read

A notice published by Skeljungur last 9 September announced that in addition to establishing a company for the operation and leasing out of depots in Skeljungur’s ownership, the Board of Directors had decided to sharpen the points of focus of the Company’s business operations still further by dividing the company with the establishment of two new and independent subsidiaries to deal with retail services, on the one hand, and corporate services, on the other hand. The decision of the Board was subject to approval by the Company’s shareholders, which was obtained at a shareholders’ meeting held last 7 October, as noted in an announcement published on that same day.

The division of the Company has now been completed and three independent subsidiaries are now operating. As announced, the aim is to sharpen the points of focus of Skeljungur hf.’s business operations; Skeljungur will serve as the parent company of the new operating companies and its tasks will increasingly revolve around the management of shares held in operating companies, in addition to managing other investments, as applicable. Skeljungur hf. will remain listed in the stock market.

The subsidiaries are:

Orkan IS ehf. The company’s work will focus on services to individuals, including the operation of Orkan’s service stations, Extra, 10-11, the Löður car wash stations, the Lyfsalinn and Lyfjaval pharmacies and Íslenska vetnisfélagið, as well as the operation of Gló. The company will also manage holdings in the companies Brauð & Co. and WEDO (Heimkaup, Hópkaup, Bland).

The Chief Executive Officer of Orkan IS is Árni Pétur Jónsson.

Skeljungur IS ehf. The company’s business primarily consists in sales of goods and services to corporations, distribution, procurement and wholesale of fuel, lubrication oils, cleaning and chemical products and sales of fertiliser and other goods and services to corporate entities and farmers. Sales of goods and services to large-scale customers in fisheries, airline operations and contracting will also form a part of these operations. In addition, Skeljungur hf. serves as the agent for Shell in Iceland and will also manage holdings in Barkur, EAK and Fjölver.

The Chief Executive Officer of Skeljungur IS ehf. is Thórdur Gudjónsson.

Gallon ehf. The company’s business revolves primarily around the operation and leasing out of depots around the country, together with the operation of depots at airports. This includes, among other things, the reception of supply vessels, bunkering services and filling road tankers. Gallon ehf. will manage holdings in EBK and Tollvörugeymslan.

The Chief Executive Officer of Gallon ehf. is Már Erlingsson.

The current organisation chart of the Skeljungur group of companies is shown in an attachment. Skeljungur is planning to hold an investor day at the beginning of next year.

For further information, please contact Árni Pétur Jónsson, CEO, fjarfestar@skeljungur.is.

Attachment


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting