Daewoo Shipbuilding & Marine Engineering

Daewoo Shipbuilding & Marine Engineering (DSME) is a Korea-based contractor that specializes in shipbuilding and engineering. The Company builds various vessels, offshore platforms, drilling rigs, floating oil production units, submarines and destroyers. The Company's major products are divided into three categories: commercial ships, such as liquefied natural gas (LNG) carriers, liquefied petroleum gas (LPG) carriers, tankers, container ships and passenger ships; offshore and plant vessels, including fixed platforms for offshore oil and natural gas production, rigs and onshore plants, and naval ships, such as submarines, destroyers, battleships, submarine rescue vessels and other specialty vessels. It also provides power generating equipment and industrial machineries. During the year ended December 31, 2007, the sale of vessels accounted for approximately 71% of the Company's total revenue. On June 5, 2008, the Company established a Omani subsidiary company DSME Oman.