Document b0yXD6aBn20Le8b9ayqkzww3

FILE NAME Cape Asbestos CAPE DATE 1958 DOC CAPE014 DOCUMENT DESCRIPTION List of Crocidolite Fiber Users Fiber Analysis Memo RE Asbestolux Sales Promotion Directors Meeting Minutes of North American Asbestos Corp. & Cape Memo to NAAC RE Hydraulic Cement Content in Asbelstolux CROCIDOLITE FIBER USERS Mr. D. H. Lyons Vice Pres Manville Corporation 22 East Fortieth Street New York New York 10016 Mr. K. H. Phillips Purchasing Agent The Budd Company 115 Howland Adams Massachusetts Mr. Maurice E. Larrivee Purchasing Agent Hurlbut Papers South Lee Massachusetts Mr. F. Bodin Morton Chemical Company Weeks Island Louisiana Mr. S. D. Weaver Cement Asbestos Products Company Division of Woodward Iron Company Woodward Alabama Mr. J. J. Durkin Purchasing Agent CertainTeed Products Corporation Maple & Wissachicken Avenue Ambler Pennsylvania Mr. E. L. Sargent Agent The Dow Chemical Company P. O. Drawer K Freeport Texas Mr. F. MacDonnell Div Purchasing Agent Orangeburg Manufacturing Co. Division of the Flintkote Company Orangeburg New York Mr. Vincent Long Vice President Hollingsworth & Vose Company Inc. Greenwich New York Mr. Robert J. Baker Durez Plastics Division Hooker Chemical Corporation North Tonawanda New York 14121 Mr. A. R. Schillinger Director of Purchases Rogers Corporation Corporation Rogers Connecticut 0020476 GEN TYPICAL ANALYSIS / AMOSITE & BLUE NAC 0247 GRADE AVERAGE FIBRE LENGTH BAUER MCNETT +4 +14 +35 +100 -100 RIGDEN S.A. cm S11 Amosite S11 Amosite S33 Amosite 1 - 1 8-1 48 8 8 8 28 50 14 7 6 28 15 20 14 15 38 7,000 4,700 8,500 S Blue SS Blue H Blue 4-3 4-3 . 8-1 54 10 4 4 28 43 15 6 4 32 32 18 8 6 36 8,500 7,000 8,700 All Figures Subject Tolerance -10 A x Certainteed 4 MEMORANDUM Mr. Cryor discussed in detail the activities of the Corporation in developing the use of asbestos fibers as areinforcing material in plastics He pointed out that indaupls astit c ir ndusy try convention in Chicago last week and that a great deal of interest was shown in the new Noramite products based on Amosite and Crocidolite asbestos fibers He further states that an agreement had been entered into with Product Techniques Inc. a technical sales organization well known to and active with most of the larger companies producing reinforced plastic products Because Product Techniques Inc. are well established in this field where our products must be introduced it is believed that sales can be developed more quickly and at lower cost by working with them than to have North American Asbestos Corporation develop its own sales organization sufficiently to be able to broadly cover the industry The contract calls for the payment by North American Asbestos Corporation to Product Techniques Inc. of 1,000 per month for six months commencing January 1 1958 as compensation for research development and exploration work in the plastic reinforcing field and in addition a 10 commission will be paid Product Techniques Inc. on sales of Noramite products Asbestolux sales Mr. Cryor then discussed in detail sales promotion program stating that to date approximately 35,00035,000hadbeenspent bythe company in this connection He stated further that a decision will soon be reached as to whether United States Plywood Corporatiwoilnl continue their activity in marketing Asbestolux It is expected that U. S. Plywood Corpora- tion will want to continue their activity but on a basis of exclusive national distribution Mr. Cryor is hopeful he can reach an arrangement where U. S. Plywood will be active with Asbestolux but on a exclusive basis thus making it possible for NAAC to continue with at least limited distribu- tion of its own to retain identity and direct contact with the market As result of the sales promotional work to date no single large market areas have been revealed for Asbestolux board rather the interest in the product has been widespreadin a broad range of applications TThe he response to the introduction of Asbestolux thus far does confirm that the potential for Asbestolux in the U. S. market should be very good and justifies continuation of the sales promotional activity f 0020478 MINUTES OF REGULAR MEETING OF DIRECTORS OF NORTH AMERICAN ASBESTOS CORPORATION HELD AT THE OFFICES OF THE CORPORATION 141 W. JACKSON BLVD , CHICAGO ILLINOIS FEBRUARY 11 1958 AT 11:00 O'CLOCK A. M. L. W. Dennis Robert E. Cryor Brainerd Chapman and Max E. Meyer constituting a quorum of Directors were present in person Mr. Deante acted as Chairman and Mr. Meyer acted as Secretary of the meeting The Chairman stated that this is the regular quarterly meeting of Directors adjourned from the second Tuesday in January Minutes of the last meeting were read and approved The Chairman stated that the first order of business is to ratify the payment of year bonuses to employees in December of last year After a discussion on motion duly made and seconded Mr. Cryor not voting it was otherwise unanimously RESOLVED that the payment of bonuses to each person employed by the corporation at the end of 1957 in an amount equal to % of the compensation earned by each of them during the year is hereby ratified and approved Mr. Cryor President then presented the financial report as of November 30 1957 and his management report He stated that the annual audit will be available for the next meeting of Directors that due to expenses in connection with the Asbestolux promotion the moath of December showed a loss and that the profit for the entire calendar year of 1957 will be somewhat less than for the prior year Mr. Cryor discussed in detail the activities of the corporation in industry developing the use of asbestos fibers as araeinforcingmaterial in plastics He pointed out that there was a plastic industry convention in Chicagolast Chicagolast week and that a great deal of interest was shownin the new Noramite products based AmositeCrocidolifit bere s He further stated that an agreementhhaadd been entered into with ProductTTechniques echniques Inc. , a technical sales organization well known to and active with most of the larger companies producing reinforced plastic products Because Product Techniques Inc. are well established in this field where our products must be introduced it is believed that sales can be developed more quickly and at lower cost by working with them than to have North American 0020479 {x = Asbestos Corporation develop its own sales organization sufficiently to be able to broadly cover the industry The contract calls for the payment by North American Asbestos Corporation to Product Techniques Inc. of 1,000 per month for six months commencing January 1 1958 as compensation for research development and exploration work in the plastic reinforcing field and in addition a 10 commission will be paid Product Techniques Inc. on sales of Noramite products Mr. Cryor then discussed in detail theAsbestoluxsales promotion program stating that to date approximately 35,000 35,000 had been spent by thecompany in this connection He stated further that a decision will soon be reached as to whether United States Plywood Corporation will continue their activity in marketing Asbestolux It is expected that D. S. Plywood Corporation will want to continue their activity but on a basis of exclusive national distribution Mr. Cryor is hopefuhle can reach an arrangement where U. S. Plywood will be active with Asbestolux but on a exclusive basis thus making it possible for NAAC to continue with at least limited distribution of its own to retain identity and direct contact with the market As a result of the sales promotional work to date no single large market areas have been revealed for Asbestolux board rather the interest in the product has been widespread in a broad range of applications The response to the introduction of Asbestolux thue far does confirm that the potential for Asbestolux in the U. S. market should be very good and justifies continuation of the sales promotional activity After a discussion on motion duly made and seconded it was unanimously RESOLVED that the November 30 1957 financial otatement and the management report presented to the Directors by Mr. Robert E. Cryer President are hereby approved FURTHER RESOLVED that the months agreement with Product Techniques Inc. and the action of the officers in executing said agreement for this corporation are hereby ratified and approved The Chairman stated that the next order of business is to consider an employment agreement between the corporation and Mr. Cryor as President A draft of such an agreement for a year period from January 1 1958 was presented to the meeting and after discussion seconded upon motion duly made and wise unanimously Mr. Cryor not voting it was other- 0020480 > RESOLVED that the employment contract between Robert E. Cryor and this corporation presented to this meeting is hereby approved and the President and Secretary of this corporation are hereby directed to execute said agreement on behaloff this corporation In connection with the corporations profit sharing trust Mr. Meyer pointed out that the Internal Revenue Service has adopted a ruling to the effect that no greater benefits can be paid upon early retirement other than for disability than would be payable upon termination of employment for other reasons prior to retirement This would have little effect on North American Asbestos Corporation's plan as an employee is fully vested vested after five years in any event and is then entitled to his entire credit whether be resigns is discharged or retires Thus it is recommended that the provision for early retirement be eliminated from the plan After a discussion on motion duly made and seconded it was unanimously RESOLVED that the corporation in the exercise of its power reserved by the corporation in Section Twelve to amend the Trust Agreement between the corporatiaonnd Continental ' Illinois National Bank and Trust Company of Chicago Trustee dated December 23 1954 and known as the North American Asbestos Corporation Employees Profit Sharing Trust hereby amends said Trust Agreement in the following respects said amendments to be effective as of January 1 1958 a by deleting subparagraph 7.1 b of Section Seven in ito entirety and b by redesignating the present subparagraph 7.1 7.1 c to be 7.1 b There being no further business to come before it the meeting was . adjourned Approved Secretary 0020481 : +8 gent oes THE CAPE ASBESTOS COMPANY LIMITED HEAD OFFICE 114 & 116 PARK STREET LONDON W TELEPHONE GROSVENOR 6022 LONDON TELEGRAMS WORKS - HEBDEN BRIDGE KENTMERE KENTMERE UXBRIDGE BEOFORO GLASGOW TURIN BENONI - SASARNIA- SASARNIA- SASARNIA- CAN MINEB BLUE MINES KOEGAS - CAPE PROVINCE AMOSITE MINES PENGE - EASTERN TRANSVAAL TRANSVAAL BRANCHES ETC. MANCHESTER = BIRMINGHAM ; , JOHANNESBURO PARIS ROUBAIX CHICAGO , : MILAN WS JEF WS JEF 12th June 1958 1958 The North American Asbestos Board of Trade Building Chicago 4 Illinois U.S.A. Corporation Dear Sirs Hydraulic Cement Content in Asbestolux cement We understand that content of Asbestolux you and are interested information in in the hydraulic connection with this is given below You will appreciate that we do not want this information circulated outside of the Cape Group although if the information is required for Customs classification we feel sure that Customs authorities would treat the information as confidential and under these circumstances we have no objection , to your releasing to them the information given Asbestolux cannot be manufactured without a small hydraulic cement content as some hydraulic cement is necessary in order to provide a measure of preset in the boards before the bond itself is formed by steam induration You will appre- ciate that the hydraulic cement is a necessity to the manufacturing process and that therefore all our output of Asbestolux contains hydraulic cement There is no variation of manufacturing mixes for different markets The raw materials and manufacturing process used are the same for supplies to our domestic market as for supplies to the United States and indeed as for supplies to all other parts of the world to which we are currently exporting Although there is no variation with regard to different | a - 0020482 ToT em a te pt ee ee a pre oe cee, mT tame peee ee ee The North American Asbestos Corporation 12th June 1958 markets you will appreciate that we must reserve the right to vary constituents and manufacturing processes to obtain economically the best product and the percentage of hydraulic cement used in the manufacture of Asbestolux is subject to variation in the same way as the percentage of other constituents used in production In other words although we can categorically state that all supplies of Asbestolux contain hydraulic cement we cannot guarantee a given percentage of hydraulic cement in the raw material constituents We believe that some time ago we advised you that there was about 8 of hydraulic cement in the then current production of Asbestolux The percentage of hydraulic cement being used in present manufacture is in fact about 12 Yours THE faithfully CAPE ASBESTOS COMPANY LTD Pans ce MANAGER - EXPORT DEPARTMENT 0020483