Siem Industries Inc.
Siem Industries is a holding company for industrial companies mainly in the oil and gas service sector and marine transportation/shipping.
Our strategy is to focus on long-term growth rather than on short-term results. We have a history of active participation in the consolidation and restructuring of different industries including the offshore drilling industry (Wilrig, Transocean), the subsea construction industry (Subsea 7), the reefer shipping business (Star Reefers) and the passenger cruise industry (NCL, Norwegian Cruise Line).
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The Siem Industries GroupSiem Industries Inc. is a diversified industrial group with its main areas of activity within the oil and gas service industry and the ocean shipping industry. The company's main subsidiaries and investments include Subsea 7 Inc. (47% ownership), Siem Offshore Inc.(34%), STAR Reefers Inc. (72%), Siem Car Carriers Inc. (88%), Siem Capital AB (64%), Siem Investments Inc. (100%), Deusa International GmbH (49%) and Deep Seas Insurance Limited (51%).
For the year ended 31 December 2007, Siem Industries reported shareholders' equity of USD 883.6 million and consolidated net income of USD 368.0 million. For the period 1Q2008, Siem Industries reported closing shareholders' equity of USD 937.5 million and consolidated net income of USD 55.4 million. For the period 2Q2008, Siem Industries reported closing shareholders' equity of USD 974.1 million and consolidated net income of USD 36.6 million. For the period 3Q2008, Siem Industries reported closing shareholders' equity of USD 1.0 billion and consolidated net income of USD 27.5 million. The Group has in excess of 115 vessels and 6,500 employees, including seafarers.
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