KNI (Greenland Trade)
Encyclopedia
KNI A/S
is a state-owned trade company in Greenland
. Led by Søren Lennert Mortensen, the company is based in Sisimiut
.
colonial authorities as a state monopoly, thus sharing its origin with Royal Greenland
, the largest fishing company in Greenland, and with Arctic Umiaq Line
, the coastal ferry
.
In 2001, the Pisiffik
group was founded as a privately owned company during privatization
of parts of the KNI group, which had held a monopolistic
position on trade in Greenland since the colonial era. After the establishment of Pisiffik, KNI faced competition in select towns in Greenland, even though operations of both companies had not previously overlapped. The opening of the KNI-owned Pilersuisoq
discount store in Aasiaat
in 2008 sparked a price war
between Pilersuisoq and Pisiffik, and a competition rights debate in Greenland.
s. The chain operates in all small settlements in the country, as well as smaller towns such as Upernavik
, which are not covered by the network of Pisiffik
and Brugsen
supermarket
chains. Other operations include integrated Post Greenland
offices offering banking services on behalf of the Bank of Greenland
, management of duty-free
stores at the Kangerlussuaq Airport
and Narsarsuaq Airport, and passenger check-in
for Air Greenland
helicopter flights from the small settlements.
to Sisimiut in late 2000s. Polaroil is headed by Peter Grønvold Samuelsen, with the company reporting a pre-tax profit of 25.2 million Danish krone
(DKK) and total sales of 895.7 million liter
s of liquid fuel, including gasoline
, liquefied petroleum gas, and other flammables.
In 2010 KNI announced plans to move the operational base of Polaroil from Maniitsoq to Sisimiut, causing protests in the former community already experiencing depopulation.
Aktieselskab
An aktieselskab is the Danish name for a stock-based corporation. An aktieselskab can be both publicly traded and private.-Liability:...
is a state-owned trade company in Greenland
Greenland
Greenland is an autonomous country within the Kingdom of Denmark, located between the Arctic and Atlantic Oceans, east of the Canadian Arctic Archipelago. Though physiographically a part of the continent of North America, Greenland has been politically and culturally associated with Europe for...
. Led by Søren Lennert Mortensen, the company is based in Sisimiut
Sisimiut
Sisimiut is a town in central-western Greenland, located on the coast of Davis Strait, approximately north of Nuuk. It is the administrative center of the Qeqqata Municipality and the second-largest town in Greenland, with a population of 5,460 people as of 2010. The site of the present-day town...
.
History
KNI was founded in 1774 as Den Kongelige Grønlandske Handel (The Royal Greenlandic Trade) by the DanishDenmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
colonial authorities as a state monopoly, thus sharing its origin with Royal Greenland
Royal Greenland
Royal Greenland A/S is a fishing company in Greenland. The company operates in a number of towns and settlements in Greenland, with 20 fish processing plants and ship bases of local subsidiary units...
, the largest fishing company in Greenland, and with Arctic Umiaq Line
Arctic Umiaq Line
Arctic Umiaq Line A/S or Arctic Umiaq is a passenger and freight line in Greenland. Its name derives from the Greenlandic word for a traditional Inuit boat, the umiaq. The sea connection provided by Arctic Umiaq is a lifeline for the entire western and southwestern Greenland...
, the coastal ferry
Ferry
A ferry is a form of transportation, usually a boat, but sometimes a ship, used to carry primarily passengers, and sometimes vehicles and cargo as well, across a body of water. Most ferries operate on regular, frequent, return services...
.
In 2001, the Pisiffik
Pisiffik
Pisiffik A/S is the largest privately owned commerce company in Greenland. It is a subsidiary of Dagrofa, the Danish food concern, with a 85.8% stake. The Government of Greenland owns the remaining stake in Pisiffik through Greenland Venture...
group was founded as a privately owned company during privatization
Privatization
Privatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector or to private non-profit organizations...
of parts of the KNI group, which had held a monopolistic
Monopoly
A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity...
position on trade in Greenland since the colonial era. After the establishment of Pisiffik, KNI faced competition in select towns in Greenland, even though operations of both companies had not previously overlapped. The opening of the KNI-owned Pilersuisoq
Pilersuisoq
Pilersuisoq A/S is a state-owned chain of all-purpose general stores in Greenland. Based in Sisimiut, it is a subsidiary of KNI, the largest commerce company in the country...
discount store in Aasiaat
Aasiaat
Aasiaat is a town in the Qaasuitsup municipality in western Greenland. Located in the heart of Aasiaat Archipelago at the southern end of Disko Bay. With a population of 3,005 as of 2010, it is Greenland's fifth-largest town.-Etymology:...
in 2008 sparked a price war
Price war
Price war is a term used in economic sector to indicate a state of intense competitive rivalry accompanied by a multi-lateral series of price reduction. One competitor will lower its price, then others will lower their prices to match. If one of them reduces their price again, a new round of...
between Pilersuisoq and Pisiffik, and a competition rights debate in Greenland.
Subsidiaries
The company operates through several of its subsidiaries: Neqi, Pilersuisoq, and Polaroil.Pilersuisoq
The largest child company is Pilersuisoq, a chain of all-purpose general storeGeneral store
A general store, general merchandise store, or village shop is a rural or small town store that carries a general line of merchandise. It carries a broad selection of merchandise, sometimes in a small space, where people from the town and surrounding rural areas come to purchase all their general...
s. The chain operates in all small settlements in the country, as well as smaller towns such as Upernavik
Upernavik
Upernavik is a small town in the Qaasuitsup municipality in northwestern Greenland, located on a small island of the same name. With 1,129 inhabitants as of 2010, it is the thirteenth-largest town in Greenland. Due to the small size of the settlement, everything is within walking distance...
, which are not covered by the network of Pisiffik
Pisiffik
Pisiffik A/S is the largest privately owned commerce company in Greenland. It is a subsidiary of Dagrofa, the Danish food concern, with a 85.8% stake. The Government of Greenland owns the remaining stake in Pisiffik through Greenland Venture...
and Brugsen
Brugsen
right|thumb|250px|A Dagli'Brugsen in Northeast Copenhagen. Brugsen is a shorthand for the Danish word 'Brugsforeningen', which means consumers' cooperative. It is also the name of a Danish supermarket chain which was born as a consumers' cooperative....
supermarket
Supermarket
A supermarket, a form of grocery store, is a self-service store offering a wide variety of food and household merchandise, organized into departments...
chains. Other operations include integrated Post Greenland
Post Greenland
Post Greenland is the company responsible for postal service in Greenland. The company is wholly owned by Tele Greenland A/S, operating under Greenland Home Rule...
offices offering banking services on behalf of the Bank of Greenland
Bank of Greenland
The Bank of Greenland is the only local commercial bank in Greenland, listed on the Copenhagen Stock Exchange as GRLA, with 2,700 shareholders as of 2010. Headquartered in Nuuk, the bank has 215 employees as of 2010.- History :...
, management of duty-free
Duty-free shop
Duty-free shops are retail outlets that are exempt from the payment of certain local or national taxes and duties, on the requirement that the goods sold will be sold to travelers who will take them out of the country...
stores at the Kangerlussuaq Airport
Kangerlussuaq Airport
Kangerlussuaq Airport is an airport in Kangerlussuaq, a settlement in the Qeqqata municipality in central-western Greenland. Alongside Narsarsuaq Airport, it is one of only two civilian airports in Greenland large enough to handle large airliners, having more stable weather, being located further...
and Narsarsuaq Airport, and passenger check-in
Check-in
Check-in is the process of announcing your arrival at a hotel, airport, sea port or social network service.-Airlines and airports :Check-in desks are found in the majority of commercial airports. Their main function is to take in luggage that passengers wish to, or are required to, place within the...
for Air Greenland
Air Greenland
Air Greenland A/S is the flag carrier airline of Greenland, jointly owned by the government of Greenland, the SAS Group, and the government of Denmark...
helicopter flights from the small settlements.
Neqi
Neqi is a network of fish and meat shops in Greenland. A portion of the country's scant agriciultural produce is also offered at the stores, with KNI supporing agricultural development in the country through guaranteed purchases.Polaroil
Polaroil is a liquid fuel distribution company. Headquartered in Sisimiut, it employs 70 staff and operates 70 stations in Greenland. The headquarters were moved from ManiitsoqManiitsoq
Maniitsoq is a town in the Qeqqata municipality in western Greenland. With 2,784 inhabitants as of 2010, it is the sixth-largest town in Greenland...
to Sisimiut in late 2000s. Polaroil is headed by Peter Grønvold Samuelsen, with the company reporting a pre-tax profit of 25.2 million Danish krone
Danish krone
The krone is the official currency of the Kingdom of Denmark consisting of Denmark, the Faroe Islands and Greenland. It is subdivided into 100 øre...
(DKK) and total sales of 895.7 million liter
Litér
- External links :*...
s of liquid fuel, including gasoline
Gasoline
Gasoline , or petrol , is a toxic, translucent, petroleum-derived liquid that is primarily used as a fuel in internal combustion engines. It consists mostly of organic compounds obtained by the fractional distillation of petroleum, enhanced with a variety of additives. Some gasolines also contain...
, liquefied petroleum gas, and other flammables.
In 2010 KNI announced plans to move the operational base of Polaroil from Maniitsoq to Sisimiut, causing protests in the former community already experiencing depopulation.