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 S.A. (20.5% ownership), Siem Offshore Inc.(33.7%), STAR Reefers Inc. (73.5%), Siem Car Carriers Inc. (100%), Siem Car Carriers AS (100%), Siem Capital AB (64%), Siem Investments Inc. (100%), Deusa International GmbH (49%) and Deep Seas Insurance Limited (51%). At the end of 2010, the Group has more than 130 vessels and 13,000 employees, including seafarers.
For the second quarter ended 30 June 2011, the Company reported consolidated net income of USD14.3 million, or USD0.93 per share. For the six months ended 30 June 2011, the Company reported consolidated net income of USD27.9 million, or USD1.82 per share. At 30 June 2011, shareholders' equity was USD1.25 billion.
For the fourth quarter ended 31 December 2010, the Company reported consolidated net income of USD7.9 million, or USD0.51 per share. For the year ended 31 December 2010, the Company reported consolidated net income of USD65.7 million, or USD4.28 per share. At 31 December 2010, shareholders' equity was USD1.22 billion.
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