The Suðurnes Fishmarket Inc. (FMS) was founded on the 24th of May in 1987. That same year the first live auction was held, on September 14th. A decision had been made to break the routine of fish-auctioning in Iceland, and instead a joint auction at two different locations – Njarðvík and Grindavík – combined buyers for the first time. Soon more markets at towns like Hafnarfjörður, Þorlákshöfn and Sandgerði joined in. Today all Icelandic markets are connected to a shared network – “Tengill” – an auction system developed for the Icelandic fish auction by FMS.
The FMS also holds shares in other companies related to their operation. Those companies include:
Jealsa has an eye on Brazil Spain
The Spanish company Jealsa Rianxeira aims to lead the canned fish sector in Brazilian territory by building a 100,000 square metre plant and generating a thousand jobs.