Norwegian owner banks small profit by offloading defence company Consub Defesa e Tecnologia.

Siem Offshore has made a small profit from selling a South American defence subsidiary.

The Kristian Siem-controlled owner said there would also be a minimal cash effect from the disposal of Consub Defesa e Tecnologia.

US group Bravo Industries said last year it had completed negotiations for the transaction, which has now been completed.

Consub is a leader in naval military combat management and command and control systems in South America, Bravo added.

It has developed Siconta, a tactical control

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