Document GzvbDKLzJJznjxk0prRrKbM2v

/ MINUTES OF TOE SPECIAL MEETING OF TOE BOARD OF DIRECTORS CF PITTSBURGH CORNING CORPORATION HELD AT NEW YORK, NEW YORK, THURSDAY, JANUARY 31, 1963 The Special Meeting of the Boars or Directors of Pittsburgh Corning Corporation, calleo by the President, was helo at the appointed time and place on Thursday, January 31, 1963, As the Meeting Notice could not be sent out in THE PRESCRIBED TIME, A WAIVER OF NOTICE WAS SIGNED BY THE DIRECTORS AT THE MEETING. MEMBERS PRESENT: ` Mr. Russell Brittingham, Mr. William C. Decker Mr. Harry B. Higgins Mr. David G. Hill Mr* Amort Houghton, Jr. Mr. Felix T. Hughes Presiding ... INVITED GUEST; Hr. Robert Bucklet, Vice Presioent-Sales '` A iVV '. The minutes of the regular meeting of the Boaro of Directors, held Oecember 5, 1962, were approved. " " " v V; R ;,r- : _ *w;:.*v*.* *- hr. Brittingham reviewed the UNI BESTOS operation since we acquired last Jult 1, 1962. Orders and Backlogs have increased substantially, ano an Eastern Plant is- necessary to maintain our sales position. it He recommended consideration be given to the erection of a UNI BESTOS plant at Port Allegany, Pennsylvania, totaling 66,000 square feet ano costin $627,000. ', . > 1' ` k After motion being -s. I"`"?**'-v 1-W' v.(tv.>,y/ -J-_V duly made, ' *' , v-V " *v' 'v - ' seconded, and carried, - -r*'*,-' it wast ' -*/P'j' ;v?t O. '' T--'Aito.J^L ^ ^ ^*,** ~ RESOLVED, That the Company erect a manufacturing plant ^rV-v fo* themanufacture of UNIBESTOS at Port Allegany and expend a sum ;Vy NOT TO EXCEED $627,000 FOR THE ERECTION OF SAIO PLANT AND THE rr , *! i PURCHASE, RENOVATION, AND INSTALLATION OF THE NECESSARY EQUIPMENT. -- _ The-PROPER OFFICERS OF THE COMPANY WERE AUTHORIZED AND DIRECTEO "'.Cs-^S^-Tk^TO sSoO pPrRoOcCeSeEdO. , ----- - s':-,'. -- - ~ - * TA -VCV\ ;L-. Y1 ,, / '> :\-v " ' , r; i . * -*T : . -V ;The President revieweo the neeo for aooittonal warehouse facilities at the Port Allegany location, pointing out that inventories hust be built up during THE WINTER MONTHS FOR USE DURING THE HEAVY SHIPPING SUMMER MONTHS. WE ARE PRESENTLY UTILIZING'OUTS IDE WAREHOUSE FACILITIES AT HARRISBURG, PENNSYLVANIA, AT AN ESTIMATED COST OF $24,000 FOR THIS TEAR. HE RECOMMENDED THAT THE BOARD CONSIDER ERECTING A'28,000 SQUARE FOOT WAREHOUSE TO STORE FGAMGLAS AND OTHER FROOUCTS AS -u, It' -k - >* ^ .. After discuss ion, and on motion ouly made, seconded, and carried, it was: , ^- ^t'r RESOLVED, That the Company erect a warehouse for the storing of FOAMGLAS, GE0C0UST1C, and other products at Port Allegany, said WAREHOUSE to BE APPROXIMATELY 28,000 SQUARE FEET IN AREA AND NOT TO _> < ; EXCEED THE SUM OF $133,000. THE PROPER OFFICERS OF THE COMPANY WERE ii-V " AUTHORIZED ANO DIRECTEO TO SO PROCEED. ______________ v".,-- V ^ V.'vi '*-** ^ . I Bfi 00 23418 I .i TStCT.NOT CmAtZSoyt::;, .. t:->;z. ^S-Flte^AND CANNOT BE AUTHENTICATED ... : ' c*w^`W^- -. . - * r Kv THIS DOCUMENT WAS NOT A RECORD OF ppr INDUSTRIES, INC. DID NOT COME FROM IT'S FILES AND CANNOT BE AUTHEN HCATED BY PPG INDUSTRIES, INC. ,. -2 - : * The survey hade by Booz, Allen and Hamilton International on the total MARKET POTENTIAL FOR FOAMCLAS IN EUROPE WAS DISTRIBUTED TO THE BOARD WITH THE COMMENT THAT THE MARKET POTENTIAL AS DETERMINED BY BASH INTERNATIONAL WAS HIGHER THAH THE FIGURES USEO BT THE COMPANY. " ' ' _I The Boaro will receive a COMPARISON of THE FIGURES DETERMINED by BOOZ, Alleh and Hamilton and those used by the Company. * * NO FURTHER BUSINESS BEING BROUGHT BEFORE THE BOARO, THE MEETING WAS AOJQURNED AS OF 70:45 A.M. The NEXT MEETING WILL BE HELD ON MARCH 6 7965/ AT NEW YORK CITY. w V"-*` - -w ,r -- - -* .- ^*t; ,-** c. ' -t - r:,T, ,-it.*rt.*wV ' ' T k *---***-<.. * ~ - - >7 CX Frank R.1 Haston Secretary * - i ' -A'ft.,' >' ST ; .1 v^>T>4vj*;' ^ *-f ' V-v , ' H- ''v'-r ' * * .J r 4 > -*fv ^X -s ... - st-'^ . . . . ^ ' t- --X . > - iL'- -\.L 'A.V ; i',l .i 4, ' .. , *'S`. ; ; "t- ' -w.,* i' . "^ ,*.* \*'-&. -ryo-i'v ,, A , v. ' . ;r * ,l , *.*'*- v:' \f 7- HgIR Sl ;