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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 1999
CELANESE AG
(Exact name of registrant as specified in its charter)
CELANESE CORPORATION
(Translation of registrant's name into English)
D-65926 Frankfurt am Main, Germany
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes No X
----- -----
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-________.
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CELANESE AG
On November 3, 1999 Celanese AG, a stock corporation organized under
the laws of the Federal Republic of Germany, issued a Press Release
in which Celanese AG and BASF AG announce that BASF has agreed to
purchase Celanese's interest in the two companies' Targor
polypropylene joint venture, which Press Release is attached as
Exhibit 99.1 hereto and incorporated by reference herein.
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EXHIBITS
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Exhibit No. Exhibit
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<S> <C>
99.1 Press Release, dated
November 3, 1999
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
CELANESE AG
(Registrant)
By: /s/ P. W. Premdas
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Name : Perry W. Premdas
Title: Member of the Management Board
(Chief Financial Officer)
Date: November 3, 1999
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EXHIBIT INDEX
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Exhibit No. Exhibit
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<S> <C>
99.1 Press Release, dated
November 3, 1999
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Press Release
[CELANESE LOGO]
Your contacts: Celanese AG
Corporate Center
Dr. H. B. Heier Building F821
Tel. +49(0)69 305-7112 D-65926 Frankfurt am Main
Fax +49(0)69 305-84160
Phillip Elliott
Tel. +49(0)69 305-33480
Fax +49(0)69 305-17082
November 3, 1999
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BASF agrees to purchase Celanese AG interest in Targor
Celanese AG and BASF AG today announced that BASF has agreed to purchase
Celanese's interest in the two companies' Targor polypropylene joint venture.
BASF and Celanese each hold a 50 percent share in Targor. Celanese expects the
sale of its 50 percent share to generate gross proceeds in excess of [euro]250
million. The transaction, which is subject to conclusion of final agreements,
is expected to be completed by the end of the year.
"The divestment of our interest in Targor is a further step in our strategy to
focus on our core businesses acetyl products, acetates, chemical intermediates,
technical polymers and performance products," said Claudio Sonder, Chairman and
CEO of Celanese AG.
Targor produces polypropylene products under the brand names Hostacom(R),
Novolen(R) and Metocene(R) and had net sales of [euro]1.0 billion in 1998.
Celanese AG is a global chemicals company created when Hoechst AG demerged a
substantial portion of its chemicals business on October 22, 1999. It has
leading positions in its key products and world class process technology. In
1998, Celanese generated pro forma sales of around [euro]5.2 billion and had
about 17,500 employees. Based near Frankfurt, the company has production plants
in North America, Europe and in the Asia-Pacific region. Celanese has a total
of 34 production sites in nine countries. Shares in Celanese AG are traded in
Frankfurt (with the stock exchange trading symbol CZZ) and on the New York
Stock Exchange (with the symbol CZ).
Your contact at BASF:
Walter Geschwill
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Tel.: +49(0)621 60-999-14
Forward-looking statements (statements which are not historical facts) in this
release are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Investors are cautioned that all
forward-looking statements involve risks and uncertainties, including those
risks and uncertainties detailed in the Company's filings with the Securities
and Exchange Commission, copies of which are available from the Company.
