By October 2008, Esso Iceland and merge into a new company Bilanaust N1 was successful. Earnings before interest, taxes, depreciation and amortization (EBITDA) was on its way to double in three years, as well as cross-selling is gaining momentum. But plans N1 were in jeopardy due to the impending currency crisis. In October 2008, the Icelandic banking sector collapsed. Gudmundsson urged his team to determine the internal and external changes are necessary to remain viable and productive now that they were left without access to commercial credit. "Hide
by Ken Mark, Tony Frost, Gerard Seijts Source: Richard Ivey School of Business Foundation 1 pages. Publication Date: September 3, 2010. Prod. #: 910C21-PDF-ENG
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