Federation of Icelandic Cooperative Societies

Federation of Icelandic Cooperative Societies (Icelandic: Samband íslenskra samvinnufélaga) (SIS) was an Icelandic coordinator in Icelandic cooperatives. It was established on 20 February 1902 by three local cooperatives in Þingey County, but evolved into a national forum for cooperation in the field of exports and imports and to achieve favorable contracts abroad. In 1917 the institution moved its headquarters from Akureyri to Reykjavik and became "one of the largest commercial enterprises in Iceland".[1] Its ship department was founded in 1946 and saw competition with Eimskip. After falling into financial hardships in the 1980s,[1] it was closed in 1992, due to the debt with its creditors.

ReferencesEdit

  1. ^ a b Halfdanarson, Gudmundur (23 October 2008). Historical Dictionary of Iceland. Scarecrow Press. p. 38. ISBN 978-0-8108-6274-6.