Martin Mosvold, founder

At the beginning of the 20th century, Farsund was well known in international shipping. Starting with tall ships in 1910, Farsund resident Martin Mosvold bought his first second- hand steamship in 1927. The Mosvold companies rapidly expanded and proved to be a success, with more than a thousand employees at its peak.

After Martin Mosvold’s death in 1956 the company was split in four, with his partner and son-in-law, Andrew S. Glastad, taking over A/S Mosvolds Rederi. He managed the company prudently and successfully, focusing mostly on traditional shipping.

In 1970, Tarald A. Glastad joined the company, followed by his brother-in-law, Terje Mikalsen. When the oil crises hit the world in the 70’s, Mosvolds Rederi had diversified into other business areas, and therefore could survive  the freight market drop. A profitable engagement with Norsk Data from the early seventies formed the basis for later technology investments. With investments in several important Norwegian companies, such as Hafslund-Nycomed, Glastad and Mikalsen held positions in Norwegian business life through several decades.

Throughout the 1990s, the company expanded into a business conglomerate focusing on new technologies, and the interests in traditional shipping were reduced. In 2000 the company was split again, with one part becoming Glastad Holding with its subsidiaries. The burst of the technology bubble around 2000 hit the company hard, making way for a diversified portfolio combined with active industrial holdings. The current CEO, Endre T. Glastad, took over in 2004 and is the fourth generation of active owners.

AESTON