Milljónarfélagið was a fishing company, officially named P.J. Thorsteinsson & Co.,
which was based on the island of
Viðey
Viðey (; sometimes anglicised as Videy) is the largest island of the Kollafjörður Bay in Iceland, just outside the capital of Reykjavík.
Overview
The island covers ; its highest point is above sea level. The island is divided by a narrow ...
and ran from 1907 to 1914. Viðey was chosen as the main centre for the company because the nearby Reykjavík at the time lacked a harbour, water supply, and electricity.
The company was named ''Milljónarfélagið'' ('million-company') because the share value of the company was a million
krónur, which was the same as the state income of Iceland in the year of the company's foundation. The key figures in its foundation were
Pétur J. Thorsteinsson
Pétur Jens Thorsteinsson (4 June 1854 – 27 July 1929) was an Icelandic businessman, merchant and entrepreneur. He was one of the key founders of Milljónarfélagið along with Thor Jensen.
Family
Pétur was married to Ásthildur Guðmu ...
of
Bíldudalur
Bíldudalur () is a village situated on the coast of Arnarfjörður,
one of the Westfjords in Iceland.
It is situated in the Vesturbyggð municipality and has 238 inhabitants (as of January 2021).
The village prospered in the 19th century than ...
and
Thor Jensen of
Reykjavík
Reykjavík is the Capital city, capital and largest city in Iceland. It is located in southwestern Iceland on the southern shore of Faxaflói, the Faxaflói Bay. With a latitude of 64°08′ N, the city is List of northernmost items, the worl ...
, along with Danish investors.
The company established two docks for seagoing ships in Viðey; a fish-processing factory which was linked to the docks by rail; and stores for coal and salt.
References
1907 establishments in Iceland
Thors family
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