VHE ehf. (formerly Vélaverkstæði Hjalta Einarsson ehf.) was founded in 1971 by Hjalti Einarsson and his wife Kristjana G. Jóhannesdóttir.
At first, much of the company‘s work was for fishing vessels and small contractors, repairing machinery, lathe and milling work, and steel fabrication.
In the early years the company operated from a building on the same plot as the family home. Today, the company is headquartered at Melabraut 21-27, Hafnarfjörður, occupying five industrial buildings.
Late in the twentieth century the ownership structure of the company was changed. VHE continues to be a family-owned company, but with most of the shareholding now with the three children of the founders Hjalti and Kristjana, the majority with Unnar Hjaltason, their eldest son.
The development of heavy industry in Iceland and in particular the aluminum industry led to significant changes in VHE‘s operations and by the turn of the century assigned resources made this the largest part of VHE‘s business. From this point onwards the company began to systematically strengthen its position as a service provider for heavy industry, particularly aluminum.
Investments were made in new equipment and facilities in order to better fulfill a range of challenging projects. A number of companies with specific expertise in these fields were acquired and either merged into VHE operations or restructured as independent subsidiaries.
In 2007 Alcoa Fjarðaal, on the east coast of Iceland, began operations and entered into a service agreement with VHE. Subsequently VHE invested heavily, building a 6.000 sq.m. workshop and a 6.500 sq.m. warehouse facility immediately adjacent to the Fjarðaal smelter.
Soon after establishing a presence in the east of Iceland, VHE acquired the construction division of Malarvinnslunnar in the nearby town of Egilsstaðir. In 2011 VHE began similar activities in the greater Reykjavík area following the acquisition of the construction company Fonsa ehf.
Today VHE provides the aluminum industry and other businesses a wide and comprehensive range of services. VHE also designs and manufactures various types of machinery, hardware and instruments for both the domestic and overseas markets.