When considering the modern industrial landscape of Iceland, Promens stands out as a company that forged a path from local production to a global stage. Its story is marked by steady expansion and a central role in the development of Icelandic manufacturing.
From fishing industry roots to industrial plastics
The foundations of Promens can be traced to the community of Dalvík on Iceland’s north coast, where in 1984 a collective of local investors established Sæplast. Their ambition was to create insulated, double-walled containers to meet the needs of the nation’s fishing fleets and processing plants. These containers not only met but surpassed requirements, gaining popularity across the country’s vital seafood sector.
Sæplast’s innovation paid off, catching international attention. After widespread use in Iceland’s fisheries, the company ventured into foreign markets, earning national recognition along the way. In 1993, Sæplast was honoured with the President of Iceland’s Export Award while also making its debut on the Icelandic Stock Exchange that same year.
A network reaching across continents
Growth accelerated as acquisitions became central to Sæplast’s strategy. Between 1999 and 2000, the company added overseas assets in Norway and Canada and soon after, another Norwegian business specialising in marine products. This not only broadened its product line to include marine safety gear and floats, but also triggered a sharp increase in revenue. International staff soon far outnumbered those in Iceland.
Continuing this trend, Sæplast entered the Asian market in 2001 and expanded further into Europe with facilities in Spain and the Netherlands. The company’s business model made it possible to serve broader industries, from fisheries to chemicals, pharmaceuticals, and food.
A turning point came in 2004, with a new Icelandic ownership group taking the helm and further acquisitions seeing Sæplast combine with local rival Tempra hf, a leader in expandable polystyrene.
Promens was officially formed in 2005, integrating several Sæplast operations under a new corporate banner. This restructuring created an Icelandic enterprise with reach well beyond local borders, including plants in the Netherlands, Spain, Hong Kong, the UK and India. Additional European and Canadian sites remained linked to the original Sæplast brand.
The acquisition of Bonar Plastics in 2005, itself operating in multiple European and North American countries, built on Promens’ capabilities. The Bonar division contributed expertise in molded parts for heavy industry, with major clients such as international vehicle and equipment manufacturers. The blend of proprietary products and custom manufacturing established Promens as a significant supplier on the continent.
During this period, the Promens Plastics division maintained a broad manufacturing presence, operating factories from Dalvík to Germany, France, Spain, Poland, Canada, India and China. In 2011, the company operated more than forty production sites in nineteen countries, employing thousands and reporting sales that surpassed 600 million euros.
Major changes came again in 2016, when Promens and its Sæplast legacy were absorbed by the UK-based RPC group. This transition brought the closure of Indian and Chinese operations, signalling a new chapter for the brand that began on Iceland’s north coast.
