Kreuz

Kreuz: the slew of order wins from Swiber may spur speculation of an eventual flow down of orders to Kreuz (57.5% owned by Swiber). Kreuz is a subsea solutions provider which supports new offshore installation and construction projects, as well as inspection, repair and maintenance (IRM) of existing offshore pdtn and pipeline faciltiies. Coincidentally, DBSV initiated at Buy with TP $0.43 earlier this wk. The stock trades at 4.1x P/E.