The Oslo-listed support ship company said it would streamline its operations by forming “one dedicated organisation for its core offshore vessel business”, to be called Siem Offshore OSV.
Remaining units like Siem Offshore Contractors, Joides Resolution and Siem Wis, the combat management business in Brazil, will be placed under Siem Offshore Industrial Investments.
It said: “The board believes that the changes will help focus and develop the core offshore vessel business, as well as be beneficial in developing and growing the business in Siem Offshore Contractors and finding strategic solutions for the other businesses.”
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