Efforts to launch a factory in the Mývatnssveit district in northeast Iceland to create pallets from recycled paper have come to an end. Despite an investment of hundreds of millions ISK in development work, the experiment has not proven successful.
From Mývatnssveit. Photo by Páll Stefánsson.
“It’s over, that’s my assessment. We have come a long way and we have invested a lot of our own money into this project but we cannot continue,” Ólafur H. Jónsson, managing director of the company, Graenar lausnir (“Green Solutions”), told Morgunbladid.
Jónsson joined the company in 2007 which was founded two years earlier. The original idea was to produce pallets from recycled paper. The new owners then concentrated on completing the construction of a machine which they haven’t been able to sell.
Graenar lausnir was supposed to help create employment in the area where the old silicon factory by the lake Mývatn used to be the main employer.
Click here to read more about the company.