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still take a long time to reach that of the

Korean shipyards, which in some cases manage to build a ship per week. The goal however still is to compete with the

Korean shipbuilding giants within five years.“If the demand continues grow- ing, in five years we will be taking work from the Koreans,” said the In- dustrial Director of EAS, Reiqui Abe.

Another major shipyard is to be built right next to EAS, will be the STX-Pro- mar, which already has secured orders from Transpetro through the Promef 2 tender. We also have plans for the EISA

Alagoas, to be built in the Northeast State of Alagoas and which is owned by the

Sinergy Group. Three shipyards are also planned for the State of Bahia, which is just north of the State of Espirito Santo where the northern limit of the pre-salt lies. All these enterprises will place

Northeast Brazil back in a growth curve and are sure to attract other enterprises such as refineries and industrial plants that will create more jobs and more growth for the region. We can only hope that this growth will go hand in hand with environmental actions to safeguard the fragile nature environments located along the northeast coast of Brazil.

Stockholders Overview: • The Camargo Corrêa Group origi- nated in 1939 as a small construction company that grew with Brazil and, at the same time, diversified its business.

Nowadays, it operates in 20 countries and employs over 57,000 professionals. Its activities are structured in five business divisions: Engineering and Construction;

Cement; Footwear, Textiles and Steel;

Concessions; and Real Estate Develop- ment, Environmental Engineering and

Corporate Division. In 2007 the group re- ported a consolidated gross operating revenue of R$ 12.4 billion. • The Queiroz Galvão Group was cre- ated in 1953 as a construction company and is currently active in various seg- ments of the economy, such as: drilling and production of oil and gas, production and processing of foodstuffs, concession of public services in Brazil, financial market, steel plants and environmental engineering services. In the Civil Con- struction sector, the group is known worldwide for its quality, having under- taken projects in Brazil and in other countries of Latin America and Africa.

The 54 companies that comprise the group generate annual gross revenues of around R$ 4.4 billion and are responsible for 20,000 direct job posts. • Founded in 1996, PJMR is an equity holding and ventures management com- pany in the shipbuilding and offshore segment. It expertise was acquired by having participated in diverse undertak- ings in the naval construction sector and is nowadays also a shareholder of Aker

Yards in Brazil, and Noroil Empresa de

Navegação Ltda. • Established in 1974, Samsung Heavy

Industries is one of the leading ship- building industry companies in the world.

Its shipyard, located on the island of

Geoje, in South Korea, covers an area of 4.0 million sq. m., includes 4 dry docks, 10,000 employment posts and has an an- nual processing capacity of 600 thousand tons of steel. The company constructs 52 ships per year, it being the equivalent to the delivery of one ship per week.

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