K+S could be keen on DSM’s fertilizer unit -report
May 1st, 2008 | by admin |FRANKFURT, May 1 (Reuters) - German fertilizers maker K+S(SDFG.DE: Quote, Profile, Research) could be interested in Dutch chemicals group DSM’s(DSMN.AS: Quote, Profile, Research) fertilizer business if it were up for sale, a Germannewspaper quoted K+S’s investor relations head as saying.
“If that then leads to an offer remains to be seen but wewould take a look at it,” Christian Herrmann told the FinacialTimes Deutschland (FTD) in a preview of an article due forpublication in Friday’s edition.
DSM, whose roots go back more than 100 years to when theDutch state mines were founded, has been shifting away fromcyclical chemicals to nutritional products such as vitamins andperformance materials like bullet-proof vests and marine cables.
The newspaper quoted DSM Chief Financial Officer Rolf-DieterSchwalb as saying the group’s fertilizers business was amongunits to be sold. Schwalb expected the sales processs to startin the second half of 2008 and be completed before year-end, FTDsaid.
According to the Dutch company’s annual report, fertilizerunit DSM Agro had 2007 sales of 427 million euros ($667million). (Reporting by Peter Starck; Editing by Quentin Bryar)
