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Below you will find a brief description of each of the industrial holdings currently held directly or indirectly by Siem Industries Inc:
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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. (45% ownership), Siem Offshore Inc.(34%), STAR Reefers Inc. (73%), Siem Car Carriers Inc. (100%), Partner Shipping AS (50%), Siem Capital AB (64%), Siem Investments Inc. (100%), Deusa International GmbH (49%) and Deep Seas Insurance Limited (51%). At the end of 2009, the Group had 115 vessels and 6,700 employees, including seafarers.
For the second quarter ended 30 June 2010, the Company reported consolidated net income of USD11.2 million, or USD0.73 per share. For the six months ended 30 June 2010, the Company reported consolidated net income of USD21.0 million, or USD1.37 per share. At 30 June 2010, shareholders' equity was USD1.26 billion.
For the first quarter ended 31 March 2010, the Company reported consolidated net income of USD9.8 million, or USD0.64 per share.
For the year ended 31 December 2009, the Company reported consolidated net income of USD131.0 million, or USD8.53 per share, and shareholders' equity of USD1.16 billion. For the fourth quarter ended 31 December 2009, the Company reported consolidated net income of USD7.6 million, or USD0.50 per share.
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