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MEDIA INFORMATION CELANESE AG Frankfurter Strasse 111
Media Relations 61476 Kronberg/Ts.
Telefax: +49 (0)69/305-84160
Your Contacts:
Ralf Christner Dr. Hans-Bernd Heier
SEPTEMBER 13, 2000 Phone: +49 (0)69/305-84040 Phone: +49 (0)69/305-7112
[email protected] [email protected]
Phillip Elliott Andrea Stine (USA)
Phone: +49 (0)69/305-33480 Phone: +1 908 522 7784
[email protected] Fax: +1 908 522 7583
[email protected]
CELANESE COMPLETES SHARE BUY-BACK PROGRAM
Celanese AG today announced that it has completed its share buy-back program
after buying back 5,591,500 of its outstanding shares.
At the Annual General Meeting of Celanese AG on May 10, 2000, shareholders
present authorized the Board of Management to buy back up to 10% of its
55,915,369 outstanding shares by November 9, 2001. At the time, Celanese already
held call options for 5.1 million shares, which were purchased to cover costs
related to its equity based management incentive programs. On May 11, 2000, the
company issued a press release announcing plans to begin with the buy-back of
491,500 shares not covered by options. On July 14, 2000, Celanese announced that
it had bought back 5.26% of its outstanding shares and that it would continue
exercising its remaining options under the program.
Celanese AG is a global chemicals company with leading positions in its key
products and world class process technology. The Celanese portfolio consists of
five main businesses; Acetyl Products, Intermediates, Acetate Products,
Technical Polymers Ticona and Performance Products. The Performance Products
business consists of OPP polypropylene films, sweeteners and food ingredients.
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Date: September 13, 2000
Celanese generated sales of around (euro) 4.3 billion (excluding
discontinued operations) in 1999 and employs about 13,900 people. The company
has 32 production plants and five research centers in eight countries mainly in
North America, Europe and Asia. Celanese AG shares are listed on the Frankfurt
stock exchange (stock exchange symbol CZZ) and on the New York Stock Exchange
(symbol CZ).
For further information please visit our website (www.celanese.com)
