The lead to start what later became known as OILWIND was taken by Harald Joensen in 1910 when he started his work as a blacksmith on a small scale. Soon he saw the chance of a more constant field of activity in his line. His son Jacob K. Joensen joined him, and in 1933 they built a new smithy.

In 1957 Bjarni Joensen, Jacob´s son, joined the company. Together the two of them established the engineering company J. K. Joensen & Sonur. They had clear visions of their field of activity, and the work of developing and manufacturing equipment and machinery for the fishing industry made good progress.

In 1973 a new factory was built, equipped with highly advanced machinery. This rational modern plant and an effective organisation that continually makes use of new technology ensure that customers get a first-class product, custom-made to their specifications. The principal aim has always been and still is to be leading in the field of developing, manufacturing and marketing marine equipment and services. The company has survived on innovation, and has been internationally known for its quality products, marketed under the brand name OILWIND. In order to meet customer´ demand for quality. Short delivery times and competitive prices, the company has built up and efficient workforce which consists of both well-trained young people and – not least – skilled craftsmen with many years of experience. Today the management is in the hands of Bjarni Joensen and his son Jákup S. Joensen.