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    Siem Industries acquires Flensburger shipyard

    Yard News // September 26, 2014

    Flensburger Schiffbau-Gesellschaft (FSG) in Germany has a new owner - Siem Industries.

    Siem Industries is controlled by Kristian Siem, whose company also controls Siem Offshore and has stakes in numerous companies, including Subsea 7. Mr Siem, Siem Industries' Chairman, has been a director of the company since 1982. He is also Chairman of Subsea 7 and a director of Siem Offshore among other posts.

    Peter Sierk and Frank Bywater, the Managing Directors of FSG, said they welcomed the deal. “We are very glad about the new perspectives that open up, as a consequence of this decision. We welcome Siem Industries on board: this time not as a client, but as owner of FSG. This means a great chance for all of us – the shipyard and its employees.”

    "Siem Industries is a successful, expanding and financially strong family-owned enterprise. It allows us to continue our successful developments in the global offshore market,” they said.

    Siem Offshore currently has two well intervention vessels under construction at the German yard, which also holds orders for a ropax ferry for CMAL in Scotland, a second seismic vessel for WesternGeco, and an innovative LNG-fulled ro-ro ferry for SeaRoad in Australia. FSG will therefore be operating at full capacity until the third quarter of 2016.


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