Document jy5YjRvddY2M60wxOG2n1Xyqk

If Monsanto iNAMI h KuniOK, Rl>H Jl t l November 4, 1976 p TO Fitzgerald Miller Potter R. A. Stohr N"V 5 (JfnJ D. R. Bishop - BIND W. R. Corey E. H. Harbison J. E. McKee J. T. Nolan J. C. Weber Joe Nolan has suggested that I draft a "preparedness" news release covering our PCB price increase to be used only if and when this information becomes known to the news media and we are forced to confirm it. Accordingly, I have prepared the attached draft and would appreciate your comments and/or approval on a "stand by basis." Please note that MIC PR will not issue this or any other written statement on this subject to anyone without the specific prior approval of Messrs. Fitzgerald and Nolan. Thanks for your prompt attention. DRB:smt Att. ''Jj^NOV 5 - I97P QjCibbb EX P-3207 Page 1 of 2 PCB-ARCH0748721 DRAFT FOR RELEASE IMMEDIATELY 1976 MONSANTO RAISES PCB PRICES, . CITES PHASE OUT EXPENSES I ST. LOUIS, Nov. 00 -- Monsanto Company said today that effective Jan. 1, 1977 it will increase the price of all grades of its polychlorinated biphenyl (PCB) dielectric insulating fluids by about 24 per cent. Monsanto markets PCBs exclusively to the electrical power supply industry for use as fire resistant dielectric fluids in transformers and capacitors. Monsanto announced last month its intentions to terminate the production, sale and distribution of its PCB product line by Oct. 31, 1977. At the same time, the company emphasized that it would have preferred to withdraw even sooner and that it was remaining in the business until next October only because a majority of its customers had indicated they would require at least that much lead time to complete field testing and convert to replacement candidates. According to Monsanto, this protracted phase out program, as anticipated, has produced and will continue to produce certain unique and unavoidable production imbalances and manufacturing variances that make it impossible to operate efficiently. The company said the resulting higher unit costs, combined with many other phase-out-related expenses, were major reasons behind the price increase. -o0- v \^L e U- 02 0*867 EX P-3207 Page 2 of 2 PCB-ARCH0748722