Before establishing Triton hf, Dr. Örn Erlendsson ran Sölustofnun Lagmetisiðnaðarins (Icelandic Waters Corporation), a sales organisation founded by decree of the Icelandic parliament – Alþingi with the owners being the Icelandic state and 18 (of 24 registered) canned food producers. The objective of the organisation was to oversee the sales and marketing on behalf of the canning companies, especially to those countries where the state was the main buyer.
The joint sales volume of the 18 members accounted for a total of 98% of the total export of canned and preserved seafood from Iceland at the time.