Siem Industries, an offshore energy service company, agreed to acquire 9 offshore vessels from Siem Offshore, an international offshore and subsea shipping company, for a 35% stake in Siem Offshore. Financial terms were not disclosed. “The Company has two major shareholders with different values, culture and objectives. Clear focus in the direction of the Company’s organisation is essential for results. There are several ways forward which may serve the Company well, but only one avenue can be chosen and only one party can hold the helm. I have spent the past 30 years building the Company with an effective organisation which enjoys a high reputation. My job is completed and I hand over to other owners. I thank all the people in the Company, on shore and offshore, for their contribution to this journey, for their loyalty to the Company’s long term interest and for the pleasure it has been working together. My hope is that the new leadership will stay on a steady course and I wish the Company and all my past colleagues well,” Kristian Siem, Siem Offshore Chairman.