November 3 - Siem Industries has successfully completed the takeover of the Flensburger Schiffbau-Gesellschaft (FSG) shipyard in Germany.

"It is very good for our employees that Siem Industries now is on board and we will together sail into calmer and safer waters," said FSG managing director, Peter Sierk.

Following the acquisition, Kristian Siem, director and chairman of Siem Industries, has been appointed to the Flensburg yard's supervisory board.

Sierk added: "We want to focus on our core competencies and also in future win new customers and projects in the worldwide offshore market. The future of our yard will remain to be in the offshore sector, where with the support and back-up by Siem Industries we will globally be even stronger."