The history of Stalsmidjan ehf. extends back to the year 1933. Ship repairs and conversions have always been the mainstream of the company's operations. The first steel boat to be built in Iceland was built by Stalsmidjan in 1955, a tugboat with 1000 hp main engine, for the Reykjavík Harbour Authorities. In 1962 Stalsmidjan also built the first Icelandic steel fishing boat.
There is a long ship building tradition in the company, which has constructed and modified a total of 36 steel vessels, up to 68 meters in length. Stalsmidjan operates its own slipway in Reykjavík Harbour and a carpenter’s workshop, specialized in ship works and renovations of older woodwork. Stalsmidjan has wide experience in new buildings, improvements and maintenance work both for hydro electric power stations and steam turbine stations as well as in energy distribution systems.
Framtak ehf. was founded in the year 1988. In the year 2000 Framtak bought the company Blossi hf, and established the daughter company Framtak-Blossi ehf. This company covers specialized diesel-tuning and automotive workshops, and is authorized as "Bosch Diesel Centre" in Iceland. It also operates a retail shop and services for the metal industry. Earlier, the main focus was on the marine sector and Framtak has covered some of the largest and most complicated machinery repair and installation projects, both for Icelandic and foreign owners, but later the land-based industry and the Icelandic power industry became more important factor in the company’s activities. This change in policy lead to contracts with prime companies in the power supply sector, like Orkuveita Reykjavikur, HS Orka, and Landsvirkjun, among others, and Framtak has undertaken and overseen some of the largest and most complicated geothermal power plant projects in Iceland in the recent years.
In December 2006 Stalsmidjan bought all shares in Framtak and Framtak-Blossi ehf. and henceforth they worked closely together, with mutual office and workshop facilities in new housing in Gardabaer and a big workshop at Grundartangi. In 2013, Stalsmidjan and Framtak merged as Stalsmidjan – Framtak ehf. and is now one of the biggest company of its type in Iceland, offering a wide range of services and solutions in the machine, shipping and metal industry.