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Monsanto fOM (NAME a LOCAT.ON, J. R> Fallon _ B2S H SUBJECT -cnci TO : August 4, 1971 THERMINOL FR SALES ALTERNATES T. L. GOSSAGE B2S L CC: Attached are: Exhibit 1 Exhibit 2 Exhibit 3 Exhibit 4 Summary Chart showing dollars involved in the various courses of action and the case detail. Cases considered but judged not practicable. Method for estimating capacity of systems in place. Listing of major industrial users. These alternates should be reviewed again with all concerned and a course of action selected. lb Attachments J. R. Fallon N 10 BCV 11 6 T' DSW 276005 STLCOPCB4054398 EXHIBIT I THERMINOL FR FLUIDS 1972 Budgeted Sales M $ 1972 Prospects M$ Gross Profit 1972 Budgeted Pounds M 1972 Prospect Pounds M ADJ3ED COSTS Free Non FR Fluid FR Incineration Fre ight TOTAL INVENTORY RETURN Credit . * Freight TOTAL REDISTRIBUTED COSTS - Fixed & Budgeted Capital TOTAL IA 1,138 467 (546) 3,465 300 -- 289 407 696 8 1 9 100 600 700 IB 1,138 602 (495) 3, 465 300 ALTERNATES II III 1,138 1,138 363 843 (429) (97) 3, 465 3,465 0 940 IV 1,138 784 (199) 3,465 1, 500 V 1,138 255 (575) 3, 465 0 _ .. 289 407 696 _ 142 38 00 142 38 M -- 445 55 289 78 692 133 1, 426 8 1 9 100 600 700 8 0 8 n 100 600 700 8 0 8 27 165 192 8 62 18 9 70 43 100 260 600 303 700 VI 1,138 977 (137) 3,465 690 143 202 345 34 5 39 20 120 140 DSW 276006 CASE'I Action: Financial: Costs: Terminate sale of FR fluids effective February 1, 1972 Return and disposal at no cost to user Sell new fluid fill at schedule less 50% Allocate system make-up until February 1, 1972 - no stockpiling No new FR systems Assumption: Retain 70% or 560, 000 gallons A. - 75% T-55/25% T-66 G. P. $ 420, 000 gal. @ $. 4125/gal. = $174, 000 68, 000 140, 000 gal. @ $1. 38/gal. = 193, 000 $367,000 76, 000 - 26, 000 gal. of FR @ $3. 22/gal. = $84, 000 * 50,000 194, 000 B. - 50% T-55/50% T-66 280, 000 gal. @ $. 4125/gal. = $116, 000 45, 000 280, 000 gal. @ $1. 38/gal. = 386, 000 $502, 000 150, 000 - 26, 000 gal. of FR @ $3. 22/gal. = $84, 000 50, 000 245,000 Freight $4. 00/cwt. Freight cost on 800, 000 gallons 800 M gallons x 11. 75 lb/gal. = 9, 400 M lbs. + 785, 000 lbs (drs. ) 10,185 M x $4. 00/cwt. = $407, 000 Disposal 9, 400 lbs. @ $. 03/pound = $282, 000 $689, 000 Capital - $600, 000 Fixed & Budgeted - $. 025/annual pound DSW 276007 STLCOPCB4054400 CASE I con't Legal Considerations No responsibility for system cleaning or hardware associated costs. February 1, 1972 adequate notification. Allocation of make-up. Increased exposure for assigning PCB as cause of any user/product problem. Effect on Heat Transfer Business Positive Inc. sales of T-55, T-66 Avoids ecologically question able material Fewer system problems Negative Aggravates HB-40 capacity Upsets biphenyl/terphenyl balance Lose selling advantage of single source Foreign source may supply FR fluid to user Expected Customer Reaction Irritation because new fill is unbudgeted expense. Examine other fluids and change to competitor. Reluctant to specify Therminol for future systems. Will associate all Therminols with PCB and not specify Therminol. Effect on Sales of Other Monsanto Groups Reason for user to shift participation to favor competitors. DSW 276008 STLCOPCB4054401 t CASE II Action: Financial: Terminate sale of FR fluids Effective November 1, 1971 Return freight at user expense Offer alternate fluid at schedule Allocate system make-up No new systems Assumption: Retain 20% or 160, 000 gallons A. 75% T-66/25% T- 55 120, 000 gal. $2. 75/gal. $330, 000 40, 000 gal. $. 825/gal. 33, 000 G. P. $ 238, 000 22, 000 Gross Sales - 26, 000 gal. of FR @ $3. 22/gal. $363, 000 * 84, 000 .50, 000 310, 000 Costs: Assume 50% returned for disposal 4,740 M pounds @ $.03/pound = $142,200 Capital - $600, 000 Budget & Fixed - $.025/annual pound Legal Considerations No responsibility for system cleaning or hardware associated costs. November 1, 1971 adequate notification. . DSW 276009 Allocation of make-up. Increased exposure for assigning PCB as cause of any user/product problem. User responsibility to return material according to our instructions. STLCOPCB4054402 CASE II con't Effect on Heat Transfer Business Positive Inc. sales of T-55, T-66 Avoids ecologically questionmaterial Fewer system problems Expected Customer Reaction Same as Case I Aggravates HB-40 capacity Upsets biphenyl/terphenyl balance Lose selling advantage of single source Foreign source may supply FR fluid to user Complete alienation of users and OEM's Reduce number of new systems Limit participation in Dowtherm A market Effect on Sales of Other Monsanto Groups Same as Case I with more intensity OSNN tf6010 STLCOPCB4054403 CASE III Action: Increase selling price to $. 52/pound Screen users Convert any who can not control leakage Return freight at user expense No new FR systems Hold harmless letter where users assume liability. Should convert during three month period Limit make-up during period - no stockpiling Financial: Price: $. 52/pound Return freight by customer Disposal charge by us No new FR systems Assumptions: Retain FR makeup of 20% on 400, 000 gals, of systems * 400, 000 x . 2 x 11. 5 = 940, 000 pounds 940, 000 lbs. x . 52 = $490, 000 Gross Profit = 940, 000 x .405 = $380, 000 Of 400, 000 gallons changed from FR we retain 100, 000 gallons plus 20% makeup 25% to T-55 (25, 000 gals. + 5, 000 gals. ) x 7. 4 = 222, 000 pounds 222, 000 pounds at . 11 /pound = $24,400 Gross Profit = 222, 000 x . 06 = $13, 300 DSW 276011 STLCOPCB4054404 C&SE III con't 75% to T-66 (75, 000 + 15, 000) x 8.35 750, 000 pounds x . 33 Gross Profit = 750, 000 x . 23 = 750, 000 pounds = $250, 000 = $172, 000 Of the remaining 125, 000 gallons 10% to T-55 12, 500 x 7. 4 = 92, 500 pounds 92, 500 pounds @ .11/lb = $10,200 Gross Profit = 92, 500 @ $. 06 = $ 5, 500 Costs: 20% to T-66 25, 000 gals. @ 8. 35 lbs = 210, 000 pounds 210, 000 pounds @ $. 33 = $69, 000 Gross Profit = 188, 000 x.23 = $48, 000 Freight cost by customer Assume 25% of gallons converted will be returned . 25 x 400, 000 x 11. 75 pounds x . 03 = $35, 000 Inventory Return - 2% of those converted 2000 gallons x 11. 55 x . 33/pound Of $8000 Total Pounds FR = 940, 000 pounds -F--i-x--e---d----&----B--u--d- 1g-e--t-e--d-- - 3944605" x 100 = 257 * . Capital - 1080 3465 x 600 = l6s DSW 276012 STLCOPCB4054405 CASE III con't Legal Considerations Same as Case I and II plus Implications regarding amount of price increase. Effect on Heat Transfer Business Eventual discontinuance of FR fluid Provide impetus to close up systems and collect leakage Reduce number of FR systems in place and number of new systems Increase sales of Therminol 55 and Therminol 66 Reduces competitive advantage Expected Customer Reaction Conversion to non-FR fluids De-emphasis of fire resistance Specify non-Monsanto fluids for any new system Irritated by amount of increase Suspected of "milking the market" * Effect on Sales of Other Monsanto Groups See Cases I & II DSW 276013 STLCOPCB4054406 CASE IV Action: Continue present industrial applications Review and screen existing systems No new systems Raise the price to $. 38/pound Convert any who can not control leakage Publicize recovery/disposal policy and initiate credit policy on recovered fluid that motivates collection and return. F inancial: As sumptions: 650, 000 gallons of system capacity will remain in FR fluids. Make-up estimated at 20% or 130, 000 gallons/year. 130, 000 gals, x 11. 55 lbs. /gal. x $. 38/lb = $570, 000 Gross Profit = 1. 500 M x . 65 = $400, 000 Change to non-FR (total potential 150, 000 gallons) We retain 50, 000 gallons on non-FR + 20% makeup 50% retained on T-66 + 20% makeup 5000 + 25, 000 x 8. 35 x . 33 = $83, 000 Gross Profit = 250, 000 pounds x . 23 = $57, 000 50% retained on T-55 5000 + 25, 000 x 7.4 x .11 = $24,000 Gross Profit = 220, 000 x . 06 = $13, 000 DSW 276014 STLCOPCB4054407 CASE IV con't Leaves 125, 000 gallons for other fluids Retain 52% of 125, 000 gallons on non-FR 125, 000 x . 52 = 60, 000 gallons on non-FR 50% to T-55 30, 000 x 7.4 x .11 =$24,200 "^$24, 000 Gross Profit = 222, 000 x . 06 = $13, 000 50% to T-66 30, 000 x 8. 35 x . 33 = $82, 500 ^$83, 000 Gross Profit = 250, 000 x .23 $58, 000 Costs: (150, 000 gallons of FR systems ended) (FR makeup sold was 130, 000 gallons) Disposal 50% of makeup collected and returned by customer for disposal Of 150, 000 gallons replaced we retained with non-FR's, 50, 000 gallons -assume return of 80% Of 100, 000 gallons lost to other fluids on changeout-assume return of 50% because we pay freight and disposal 155, 0_00 x 11. 75 x . 03 = $54, 500 (1.8 M lbs.) F reight 1.8 M pounds + drum (3000) (50) = 1. 950 M 1. 950 M pounds @ $4. 00/cwt. = $78, 000 65, 000 40, 000 50, 000 155, 000 gals. DSW 276015 STLCOPCB4054408 CASE IV con't Inventory Return Systems replaced with non-FR 50, 000 gallons (out of 150, 000 gals.) Systems lost 100, 000 (half returned) 50, 000 gallons 100, 000 gallons Est. 2% new fluid: 2000 gallons returned new fluid (2000) (11. 55) x . 33/pound = $76.00 23, 000 + drum (2000 pounds) = 25, 000 pounds Inventory Return freight - 25, 000 pounds @ $4. 00/cwt = $1, 000 Fixed Sc Budgeted Total FR Pounds 1. 500 ---------- x 100 = $43, 000 3465 1. 5 M . 575 2. 075 jji pounds , Capital .43 x 600 = $260, 000 Legal Considerations Limitations on review and approval actions Effect on Heat Transfer Business Positive Inc. sales of T-55, T-66 Avoids questionable uses Motivates user to control system and fluid Expected Customer Reaction See Case I - Impact will be softer in this case Negative See Case I os**60* STLCOPCB4054409 CASE V Action: Terminate sale of FR fluids immediately No charge to user for new fluid No freight charge to user on new fluid or return of FR fluid No disposal charges on returned FR fluid Financial: Costs: Assumptions: 800, 000 gallons of system capacity 60% to T-55 480, 000 gals, x 7. 4 lbs/gal. x 0. 05/lb 40% to T-66 320, 000 gals, x 8. 35 lbs. /gal. x 0.10/lb. Our cost on fluid exchange Make-up at 20% T-55 96, 000 gal. s @ $. 825/gal. T-66 64, 000 gals. @ $2. 75/gal. $177, 600 267, 200 $444, 800 $ 79, 000 sales 42,COO G. P. $176, 000 sales 123, 000 G. P. Return fluid freight - same as Case I $ 407, 000 Disposal of Returned Fluid (same as Case I) 289, 000 New Fluid Freight (T-55) 480, 000 gals, x 7. 4 + (drum wt. )(9600)(50) = 4,122, 000 @ $4.00/cwt. \ $ 165, 000 (T-66) (320, 000)(8. 35) + (6400) (50) = 2, 992, 000 ^ 120, 000 TOTAL $2,260, 000 DSW 276017 STLCOPCB4054410 CASE V con't Inventory return @ 80% 800, 000 gal. x . 02 - 16, 000 gal. x 11. 75 188, 000 pounds x . 33 Drums 314 x 50 - 15, 700 pounds Freight - Total pounds 203, 700 @ $4. 00/cwt. TOTAL Inventory Return 188, 000 pounds $62, 000 $8,150 $70,000 Legal Considerations No responsibility for system cleaning or hardware associated costs Immediate termination Increased exposure for assigning PCB as cause of any user/product problem. Effect on Heat Transfer Business Same as Case I * Expected Customer Reaction Same as Case I Effect on Sales of other Monsanto Groups Same as Case I DSW 276018 STLCOPCB4054411 CASE VI Action: Financial: Continue present industrial applications Screen use Increase price from $. 28/pound to $. 435/pound Set minimum order of $1200 Fluid exchange allowance --3 months -- selling price $. 095/pound on Therminol 55 -- selling price $. 22/pound on Therminol 66 which is 30% Gross Profit after deducting $. 07 for return freight and reclaim of FR fluid Users who continue must sign "hold harmless agreement" within 90 day period. Users who continue will return fluid collect for $. 03/pound credit deducted from new fluid purchased. Continuous make-up pattern identified and followed * Disclaimer statement on Acknowledgement, Invoice, Bill of Lading and Drum Return FR fluid on conversions collect No direct mail literature or advertising on FR fluids No sales calls on small accounts No new FR systems Assumptions: Retain FR makeup for 300, 000 gallons 300, 000 gals, x 11. 50 x . 2 = 690, 000 pounds 690, 000 x .435/pound = $300, 000 Gross Profit = 690, 990 x . 32 = $220,000 ' DSW 276019 STLCOPCB4054412 CASE VI con't Changed systems that total 500, 000 gallons of fill to non-FR products We will retain 80% of these systems because of our exchange allowance 400, 000 gads, to non-FR + 20% makeup on these systems 75% to T-55 300, 000 gals. + 60, 000 gals, x 7.4 2, 660, 000 pounds 2220 M pounds x . 095/pound $210, 000 440 M pounds x .11/pound 49, 000 TOTAL $259,000 Gross Profit * 2220 x . 045 Gross Profit = 440 x . 06 = $100, 000 = 26, 400 $126, 400 25% T-66 + 20% makeup 100, 000 gals, x 8. 35 835, 000 pounds 835 M x .22/pound $184,000 Makeup 20,,000 x 8. 35 = 167, 000 pounds 167, 000 x . 33 = $55, 000 TOTAL sales = $239, 000 Gross Profit = 835 x . 12/pound =$100, 000 Gross Profit = 167 x .23/pound = $38, 500 TOTAL Gross Profit ^ $139, 000 DSW 276020 STLCOPCB4054413 CASE VI con't Remainder to other products 125, 000 gallons Retain 80% of these 125, 000 gallons with non-FR fluids 125, 000 x .8 = 100, 000 gallons 50% to T-55 100, 000 x . 5 x 7. 4 370, 000 pounds @ .11/pound Gross Profit = 370, 000 x . 06 370, 000 pounds $41, 000 $22,000 50% to T-66 100, 000 x . 5 x 8. 35 pounds = 420, 000 pounds 420, 000 x .33/pound = $138, 000 Gross Profit = 420, 000 x . 23/pound = $96, 000 Costs: Freight & disposal cost by us (a) 50% of FR fluid supplied as makeup to be collected and returned for disposal 690, 000 pounds x . 5 = 345, 000 pounds (b) Of systems changed from FR to non-FR products 80% will be returned for disposal 400, 000 gals, x . 8 x 11. 75 = 3, 760, 000 pounds SW 276021 STLCOPCB4054414 (c) Of 100, 000 gallons lost to others we expect 50% returned for disposal 100, 000 x , 5 x 11. 75 = 590, 000 TOTAL Disposal pounds 345, 000 3, 760, 000 590, 000 4, 695, 000 pounds TOTAL Disposal Cost 4. 7 M pounds @ . 03/pound = $143, 000 Disposal Freight 4. 7 M pounds + Drums (390, 000) 5.1 M pounds 5.1 M pounds @ $4. 00/cwt. Inventory Return Total Systems replaced with non FR Lost 100, 000 gallons (half returned) 400, 000 gallons 50, 000 Gallons Returned 450, 000 gallons 2% Inventory = 450, 000 gallons x . 02 9, 000 gallons Fluid Inventory Return Cost: 9, 000 x 11. 5 x . 33 (103, 000 lbs. ) = $34, 000 Inventory Return Freight 103, 000 pounds + drums (8, 600) x $4. 00/cwt. $ 4500 Pounds of FR remaining 690, 000 Fixed and Budgeted Costs 690 3465 x -100 ~ 20 Capital 0. 2 x 600 = 120 DSW 276022 STLCOPCB4054415 dASE VI con't Legal Con aide rations Minimum order of $1200 applies to FR fluids but not to non-FR fluids Effect on Heat Transfer Business Same as Case 111 Expected Customer Reaction Same as Case I Effect on Sales of Other Monsanto Groups Reason for user to shift participation to favor competitor. \\ DSW 276023 STLCOPCB4054416 EXHIBIT 2 The following situations were considered but were Judged not practicable: 1. Sell No New Systems - approve existing systems or convert - limit yearly make-up on old systems to x# of capacity - sell larger quantities of make-up only on return of used or recovered fluid 2. Sell PR Fluids Only in Monsanto Designed and Installed Systems - set up group to design, install, start up and maintain systems - limit make-up, control and collect leakage and return to Monsanto J. R. Fallon 7/29/71 OSNN 27602* STLCOPCB4054417 EXHIBIT 3 Therminol PR (Domestic) The quantity of fluid contained in heat transfer systems is es timated at 800,000 gallons. This estimate was arrived at as follows: Year 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 M Lbs. Sold 133 133 975 1,543 2,029 2,554 2,901 3,131 4,012 3,616 21','027 Make-up % Est. M Lbs, 40 53 40 53 50 490 50 770 55 1,120 55 1,410 55 1,600 60 1,870 60 2,400 60 2,170 IT, 935 Initial Pill M Lbs. 80 80 485 773 909 1,144 1,301 l,26l 1,612 1,446 9709T 9,091 = 775,000 gallons = 800,000 gallons initial fill TT775 STLCOPCB4054418 I 1 > . Case II Action: Terminate sale PR fluids Effective November 1, 1971 Return freight at user expense Offer alternate fluid at schedule Allocate system make-up Financial: Assumption: Retain 20# or 160,000 gals. A. 75# T-66/25# T-55 120,000 gal. $2.75/gal. = $330,000 40,000 gal. $.825/gal. = 33,000 Gross Sales $363,000 Costs: Assume 50# returned for disposal 4,740 M lbs. @ $.03/lb. * $142,200 Capital - $600,000 Budget & Fixed - $.025/annual lb. Legal Considerations No responsibility for system cleaning or hardware associated costs. kvr'xJEM.&cfc- 1,111 1, 1972 adequate notification. Allocation of make-up. Increased exposure for assigning PCB as cause of any user/ product problem. User responsibility to return material according to our in structions. c**""** STLCOPCB4054419 Case II (continued) 2 Effect on Heat Transfer Business Positive Inc. sales of T-55* T-66 Avoids ecologically ques tionable material Fewer system problems Negative Aggravates HB-40 capacity Upsets biphenyl/terphenyl balance Lose selling advantage of single source Foreign source may supply FR fluid to user Complete alienation of users and OEM's. Reduce # of new systems Limit participation in Dowtherm A market. Expected Customer Reaction Same as Case I Effect on Sales of Other Monsanto Groups Same as Case I with more intensity DSW 276027 STLCOPCB4054420 Case III Action: Increase the selling price to $.52/lb. Sell only to approved applications Convert any who cannot control leakage Return freight at user expense Financial: Assumptions 3.6 K lbs/yr rate (1971 est.) @ $.28/lb. = $1,020 M 6056 make-up 2.l6 M lbs. 40# new system 1.44 M lbs. Retain 60# of make-up vol. 1.30 M lbs. @ $.52/lb. 10# new system .14 M lbs. @ .52/lb. = $675 M 73 M $?4 M 50# of 860__M lbs. that changes to non-PCB .50 x 860 M lbs. = 430 M lbs. * 75# to T-55 322 M lbs. 0 $.11 25# to T-66 108 M lbs. 0 $.33 = $ 35 M 36 M T7H 100# of 1.30 M lbs. in new systems 75# to T-55 975 M lbs. @ .11 = 25# to T-66 325 M lbs. 0 .33 = $107 M 115 M $222"'ST Total Gross Sales $1,041 M Costs: Disposal Assume return of 25# of fluid fill vol. 9.4 H lbs. x .25 = 2.36 M lbs. Reclaim 2.36 K lbs. x $0.03/lb. = $ 71 M Capital - vol. reduced to 1.44 M lbs. and capital to $280 M ___ - $320 M redistributed to dielectrics Budgeted & Fixed - $40 5^/yr. - $60 Vi/'yr. redistributed to dielectrics DSW 276028 STLCOPCB4054421 Case III (cont.) Legal Considerations Same as Case I & II plus Implications regarding amount of price increase. Effect on Heat Transfer Business - eventual discontinuance of PR fluid - provide impetus to close up systems and collect leakage - reduce # of PR systems in place and # of new systems - increase sales of T-55 and T-66 - reduces competitive advantage Expected Customer Reaction - Conversion to non-PR fluids - De-emphasis of Fire Resistance - Specify non-Monsanto Fluids for any- new system - Irritated by amount of increase - Suspected of "milking the market" * Effect on Sales of other Monsanto Groups See Cases I & II 2 DSW 276029 STLCOPCB4054422 Case I Action: Terminate sale of PR fluids effective February 1, 1972 Return and disposal at no cost to user Sell new fluid fill at schedule less 50# Allocate system make-up until February 1, 1972 - no stockpiling Financial: Assumption: Retain 70# or 560,000 gals. A. 75# T-55/25# T-66 420.000 gal. @ $.4125/gal. - $174,000 140.000 gal. @ $1.38/gal. - 193,000 $3^7*000 B. 50# T-55/50# T-66 280.000 gal. @ $.4l25/gal. = $116,000 * 280,000 gal. @ $1.38/gal. b 386,000 $5*52TTHRJ Costs: Freight $4.00/cwt Frt. cost on 800,000 gal. 800 M gal. x 11.75 lb/gal. = 9,400 M lbs + 785,000 lbs.(drs.) 10,185 x $4.00/cwt = $407,000 Disposal 9,400 lbs. @ $.03/lb. = $282,000 $689,000 Capital - $600,000 Budgeted & Fixed - $.025/annual lb. STLCOPCB4054423 Case I (cont.) 2 Legal Considerations No responsibility for system cleaning or hardware associated costs. February 1, 1972 adequate notification. Allocation of make-up. Increased exposure for assigning PCB as cause of any user/ product problem. Effect on Heat Transfer Business Positive Inc. sales of T-55> T-66 Avoids ecologically ques tionable material Fewer system problems Negative Aggravates HB-40 capacity Upsets biphenyl/terphenyl balance Lose selling advantage of single source * Foreign source may supply FR fluid to user Expected Customer Reaction Irritation because new fill is unbudgeted expense. Examine other fluids and change to competitor. Reluctant to specify Therminol for future systems. Will associate all Therminols with PCB and not specify Therminol. Effect on Sales of Other Monsanto Groups Reason for user to shift participation to favor competitors. DSW 276031 STLCOPCB4054424 The following situations were considered but were Judged not practicable: 1. Sell No New Systems - approve existing systems or convert - limit yearly make-up on old systems to x# of capacity - sell larger quantities of make-up only on return of used or recovered fluid 2. Sell PR Fluids Only in Monsanto Designed and ; Installed Systems - set up group to design, install, start up and maintain systems - limit make-up, control and collect leakage and return to Monsanto J. R. Fallon 7/29/71 DSW 276032 STLCOPCB4054425 r- T lilflif m n X ( ^ ^ <y 4vn-(~ c '. * STLCOPCB4054427 THERMINOL FR FLUIDS 1972 Budgeted Sales M $ 1972 Prospects M$ Gross Profit M$ Case V 1,138 0 (740) 1972 Budgeted lbs. M 1972 Prospects lbs. M 0 0 Added Costs F reight 692 Incineration 289 Total 981 Redistributed Charges Fixed & Budgeted 100 Capital 600 Current: Capital @ $600 M Fixed & Budgeted Cost @ $. 025/annual lb. = $100 M/yr Key Accounts Assignments 2/10/72 QSR : American Cyanamid Betz Borden Carborundum Standard Oil - Calif. Jefferson Chemicals Purex Owens Illinois Thiele Kaolin U. 0. C. , - RLN Athol Burlington Deering Milliken Harshaw Howmet * Lockheed Reichhold Rohm & Haas Sav-A-Stop Southern Dyestuffs Stauffer Westvaco Allied Chem. (Moundsville) Eastalco/ Intalco DED -- - Celanese Plastics Sylvan Chemical DuPont Gilman Bros. Int'l. Paper Jiffy Mfg. Johnson & Johnson Kentile Merck Reynolds Metal Hewitt Robbins United Resins Upjohn Malden Mills New England Petro. Hamilton Standard Airco Speer FHC Amsco Armco Boise Cascade Continental Can DeSoto - P. D. George Grace Mead 3-M Murphy Oil U. S. Gypsum U.S.Plywood - Champion JJR Amoco Chemical Continental Oil ^"Firestone l/-General Tire Hooker Lever Bros. o-Chevron i^S-an' Oil l/Tenneco t^Texaco MJnion Camp HJdylite Corp. PER * Bendix Goodyear General Motors General Portland Cex Grumman Koppers CP En^ay (Creole Petro.) >PG . PWG Glidaen Humble (S.S. Manhattan) - Trace new owner Armstrong Cork needs to be assigned. . . ' ' . ' DSW 276036 STLCOPCB4054429 // XX ccM -Y _S:^C<.~sQ . cflwc. <_^- ,r;v \ / ^ Z' I-- !A^V >]Xk -J>^. r/ ;\ * /->* iX,w -- Pwo / trsP. /It-uA-l-vv^ lf-Zto Ic-O't Qcj)' _ " f) / ' ----a-i_' //cC-,/>e-o /XX^i " A-4 /'CL i?ti.C SAud J)c>C /^-l^crb te>~ ^C-Xi-v- c ^1^-lLsj ' HJUl h ^tzJLQ }K4-0 :7~o Uu ..^ - j)r-3 ......................................... ;_ ~T*-r:^^c -(jj^) uAil , / , V___Ctf-^wrrzOte . ^(.-t-Lcivv Ca^^L --" 2>cri> > ...- A-- cu - j)cs^................................. ..... FfZ- ; / 0 S. u?rtIFU^-V^ -j>fi>._ _. LLp.fyUn dsnN 276037 A c-Tc-^^Ja. -- j> (f'/ . /'. wz-; '/Lctu-^l. '"' J) <zr i-v - V<2 Cc5 -- ^3 7}i'.,'U'"h ~ J) ^/) ( STLCOPCB4054430 1/ / .. /- 1 ; L- [-' (fc* 7^/?A A <-'k iT ( lO C* L"V,v< ii twt/ -L .' I'I i CC j\ f^, hr-^c \ Cl" J i A_ , >. .r ; i? ! W/\ v.*! <-Ue iV / ^ ) Cr. jj .. , r- "S >;^,../'Vauau . -o / ; 1 OwS / /fxCC 'tu *s n -CKh-^f- ; Oic K&~<} cdxi^&~, .Uvv.rt 7uk>^7^ > n HA (A | ' A Ar if (ic^/'/H- - n H`iA'\ .<C'J r. 1 ^ C.C- \J 2) / oh~. 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L'i b 'O VVk^u V_ , ` L 760a0 qSNN STLCOPCB4054433