Subsea 7 Inc. (SBEAF) Q2 2010 Earnings Call Transcript July 27, 2010 9:00 am ET Executives Kristian Siem – Chairman Mel Fitzgerald – CEO Barry Mahon – CFO Analysts Ian Macpherson – Simmons & Co. Fiona Maclean – Bank of America/Merrill Lynch Martijn Rats – Morgan Stanley Erik Tonne – Arctic Securities Mick Pickup – Barclays Capital Phillip Lindsay – RBS Greenwich Capital Lars-Daniel Westby – DnB NOR Markets Haakon Amundsen – Handelsbanken Capital Markets Alex Brooks – UBS PresentationOperator
Good day, ladies and gentlemen. And welcome to Subsea 7 quarterly report conference call hosted by Mr. Kristian Siem. My name is Anish and I’ll be your coordinator today. (Operator instructions) I would like to advise all parties this conference is being recorded for replay purposes. And now, I’d like to hand it over to Kristian. Over to you, Kristian. Kristian Siem Thank you, Anish, and good afternoon, ladies and gentlemen, and welcome to this Q2 conference call. I am here with Mel Fitzgerald and Barry Mahon, as usual. And before I hand over to Mel, I’d like to talk briefly about the proposed combination with Acergy, which we recently announced. The proposed transaction will enable us to create a global leader in Subsea engineering and construction, which will enable us to undertake large and more complex projects worldwide with our combined fleet capable and technological expertise. Given the expected growth in the Subsea market in both the medium and long term the proposed combination is very positive for the company and will stand us in good stead to be able to meet our client’s needs with regard to reliability of execution of their projects.