DUTCH CHEMICAL FIRM DSM TO BE PRIVATISED
Dutch state-owned chemical
firm NV DSM <DSMN.AS>, the former Dutch state mines, which
today reported a 2.5 pct increase in 1986 net profit to 412 mln
guilders, said it was poised to be privatised, possibly next
year.
    DSM chairman Hans van Liemt told journalists "We have done
our homework. We're ready. It is up to the state now."
    He said a public sale of 30 pct of DSM's assets in 1988 was
not unlikely, but the timing of the sell-off was entirely in
the hands of Parliament.
    Dutch Finance Minister Onno Ruding is known to be a
proponent of privatisation, and the centre-right government
coalition mentioned plans to privatise DSM in its policy
declaration last autumn.
    Van Liemt would not speculate on a possible market price,
but said his company had raised its total 1986 dividend to 98
mln guilders, almost 25 pct of 1986 net profit.
    "We ought to be able to match our German competitors on
price earnings ratio, although the Amsterdam bourse generally
has a lower ratio than the world's major exchanges, " he said.
    The average Dutch price/earnings ratio is 10.
 Reuter
