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CYAN/ 1976 Ann O > TI .=; 3. < w" --; CD o o: h i nI'oQ5` ^C2D ZQ5* o o cl if i i1?# f0 CQ 03 3 O O 3 _ 0) S O CO >m?r o o CD CD m CD Q. 3 CD 3. "3 ^ ft "BO o g- |g CD < c7 3 -- CD CQ o O o z Hi 171 o 2 CD 3 3 A <* oo 1 = 3 2. ~o cg "* T3 o CD =r On -+ 5-9 3 B.3 ?<D z H CD a 5- ss a aS 8 g o ^ CD 2. 3 3o a w a3 a- q . co CO aa CO CO O S IT 3 .n CD hw-> CD O CD O CD CD 5' 3 a. -- CD 3 & 3- o' 0) CD 3 CD 3 CD 3 ZZ CO co "n --i -< 3 3C c 03 t ;S2 na 5O' O' CD c d co co "T o - co . o oQcp . Qw> 0.0 C o) a.g- CD CO S (D O'co m > v m z 3o g a o 2.0.0. II5 O' o' a10 TJ o 2 o- a S'* (/> C_D CD 3 o 3 H Q. O~+ O >0 "0 OZ mH |TIZ 5a. c d g-.-o DZ <o^S _CT 03> C<-D* <-+ 3 X' CD sag- QCD CD jg 2 3-' 2 3*< 05 a . co o 3 D> 3 53 w 2. a c d B _S-sjs Q. " ^!<a cn" ' CD CO g 5* O 3o* OQ..33 O ,Wft 3=5~ o-* *D JO CD O CQ CO o 33 Q- 33 n CQ q 'CD CD CD ^ CD CD 3 O O =3 cffQ CD O CD O o V) 3<0 Q. * CD CD'S. o 3 => 2. ^'a O ft) -Q CD CD og CA "S' 3 13 o o 7T 3 8. o o CD 3 3 *D CD CD 3 3 Q. 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O co P fl i 2. ! f uZ 3 ^ Q- 3CD1 a 8 3- O 3 5=T! 2 CD Q. a5 w ffl 5 8 a O `n p3^ p CO O o 3 S' <-+ r-4* 7? P 2o , =r 3 a 3 a. to -12 CQ o = g 34 s a c i a qj o 3 CO oT 3 ag - 2 O_ ! 3 2 rr Q. r a- if CD Q. L3 O 1r C3D Qc. 18 ap a2 03 | O "2. co 5 o 3 8 a CD p ZT -o W p gi^ S o 21 3 3 3' oO g-8 i, g 1 ^S o ;. 2O CcQ J 3 =r 3 2.-a I S' = = &: N P o- - s. o OD 8 a OT sc co 23 W r-t* 3.1 P =x *"on O o' 2 3_ Q. C Q. Cl a = a 88 3 facility will utilize new Cyanamid technology emphasizing energy 5|0> o (Q cd S' < cr 3> W g <-01 cr. o 0 if w 1- O w = o 0 3 1 o S sz.r O* -qX 3 a 3 3 3 a -a o ^ o c O =J -D <-+ -o-n q . =3 2.0) g 0 3 3 Q-s^f So |S b 0 3 -- S as ? 2. s o '** 2-o-^ I R -- 31 cB -a ao 3a " 3s (0 5* 3 3 -Q- o c 3 3 = 3 I gf a3 N S | CX CD T3 CD Cf. o g. 3 =ro o u a o Q. I S3 a c c c 3 g 5 o co. 5S- = c d .W CQ 3" 5' 5TR 3 -- 3 a. -J 12 --. 3 a. C a oO 5'R c CQ " 3 zr s I CD CD " -00 3 CD CD O T5 33 2. a Os< 3 r+ 5' 3 Q 3 h .*3.w -< O' R $ n eg a s S CD _. 333 CD TJ -a IT O 0C3D g3f. CD 3 %3 Q 3 o 3 3 O =3 ZJ gO- V> X3 _ R 3- 11 3 r" o -> ?? <: <Fg-+T ao & 0*0 3 05 3. 3 -- OO ? 3o 2. r- Q. a. c Z! 3* CO CO -n J a> o o 3 -1 c o 0* 3 < c CL 03 1n 3 ? c 5' X 3- O 3 <9 5 p CQ ^ 3 2 . CD 2 a* a 0^0 tt 5' a3 $ - Q. =f >5 o g. = R 3- lag? CD O o 3 g> 2 *o o *= c cT CT 3. - 3 B 0 05 f =H 3 1 g o ~ 3, i Q.' 3' Q. O -- 3- 3 O 5 7 . 3 o 3o o 3| & Q. &! co 05 O TJ a* H zr a3 <Q o zr --3 3 gOo a- " Leo 3 s. ^ 3 CD C (D -> 7 C. If. O SO c til- 31--o Q. i 3 CL 5- it a a o* f8f S' r~- -ftK) rD 0 2- n CD = g> =r O' c w; c c? $ g a 0^3 < a g ^ rD 3 mP WO * 3 O *< < o' :$ |5= 3- R &P3 sz Q. - -o 2a. ^o o * c . CL CL c ^ 5? 5* 3" 0> O zr S o' 3 i. sCD C CL 3 aR CD "O II &> a 1 CD 0o II CL o3 c 5T T-n3 o O Q. o C cl o 3 c 3 --* cr cr CQ CQ U =* n o. co a n zr ca 11 00 3* 3 o Q. o -- Q. C "^ -- - o. 3' <0 o 3* co _: 3 CQ 3 >> Ql ~ zr rt>* fl) Q. 8| o ^a 1?g*3 -OQ-5 " o 13 cr =3 c C[ O ^ r+ CO CQ <a . Q. CO 3 O TJ O' 3 W 3 3. a -- o o Q. CD c-- - o ^Q Q. poj R CaD eC- Q. . s: 5` | < 3o c O CL IT 1 CQ -+ ~o cn a> w zr c 2 ~n o O ^ 3 3 la O CD 3 a, 3 W a cd 2 a 03 o O CQ O C*vDj 3 R CD a: CQ P 3 H. 5 o 3CL ` O 3' 3 co 3 a. 5` _h TJ 3 aa O CD q 5 . ^ 05 O O' 3 Q XI ffl 3. c d * 0. O o a I 3. 40% in mid-1978. TO OUR STOCKHOLDERS Dr. James G. Affleck, Chairman of the Board, President and Chief Executive Officer O =? ceT p 3P 33 (Q O "i 3 T? CD -- CQ 3 CO o Q. p CD C <0 ~o 2 Er C 13 -r XI CD O Q. 03 CO * *--K O 3- C *0 O C ^--o% 3 O 3 XI O ^CQ S; 3 o S' CO CL eo ^ CO 0I-3+ Ccr cr CD co <0 03 3* "6 3 cio'SL 3 =; CO CQ zOr CD .3 --oo^ CD CO CL 3 X3 92. o 3< o CO CD O ? CO 3 TM "J S o 3* p CL 0 O cr CD O c ' 03 3 Q. 1.3 CL o CD 3* CD < O CD 2 oC CO CD O CD 0 X3 fl3* cd 3 CO S O 02 Cl 0 CD P O < CO CQ 3 03 CL -O CD TO CO CD CD 3 ^ < CD S' 3 2 =5 . CL 33 -- CD ^ CD 3 0 CQ 3 5- 3 CD 3 Q_ O ~r O -- 33". ^0 CO CQ CO =r S3 M 91 g_ CD --. 3 03 _ CD -* CJ <Q oT> CD C O -- CD w >- * 3 CD CD O -x FV 2. ? 03 CD Q- <s - C ~ -- W_ p CO 0 < -ee N3 Q. 0 0r- CroO O- 3 < > 3 O x j 5. o 0 X3 == --I E"T CL 0 3. < Xp 3P o CQ 3. 1 0 O X3 C O CQ 0 o cr -X XI . g O 3 S8 P" 5' n wO'' 0 o o 3r--X* 08 2J- w ^ --i S X3. 0 0 o~ o C 2L O C XJ P =3 CD P CO Q. 3 pOO CD C 3 CO CO O' - XJ D" "o fog _ 03 8 ^ -P O 0o"S X~TI o P0 0 0 CL o --pX vO c00p. Ql Cl Cl 3 Or-t- 0 3 0 Qcr. o o 0*0 3 P 2.13 cr *< - 2. 35- R CD -Q S-o P*3g- -i -OT <: 5. cr O S' g O -rCoO oo *0o 0 o "0t S' 3-. o 0'~0- KV> P CL O p --H p o 9* Q0 g gagZ4- c c 0 $ *0 g 0 QO0 ^^ O- S' ^u0 =r3> X3 --^ S 3" P N0* XI o CD XI o 0 0 p3- 0 XI p S2- Q. P _ o -< O CQ 2, cr 7Z c ^ > 3" 00 00 p < i o -+ "3 3 w Q. ^ 0 --* 07 0 Og 0 Q. CQ m c !: o' 3 p 0 p 0 0 3 5. 3 p rx Q- CQ 0 3. 0 oo- 3 O0 3 CQ 0 ---- lj*_i 0f~ 0 Q. c 3. 3 0 0 33 ? ^ CO ^r=o? 0^43 b^ co s cr 0 ==- ^O p 3 p 3 Q.' <ro& cr o 3 < 0 P CO p_ 0 0 5' o 0 P 0 0 CL 00 *03 Cyanamid ended 1976 in a strong position for long-term earn ings growth. Despite the adverse impact of the energy shortage during the early months of 1977, we look forward to improved earnings for the year. ssCCDr:l. oaas 0 S3. o CCDP 2^ ^ j C*sO4 Ho ffl . o', *o<s 2o ><3 3O* c_ os r- O CO < ffl w 'c- -Cfeo. ffl 3 3o> -3 a$ oCD 39 18 .s O' O 3 a5` r- to o Sr 3 os 9 3 | a* & a a. c d g- 2 9. CO S os =O. 7S**. CD CD cE. a! ^o a. CD w- cd o a o' ' C3^D2. 5O ^3CB 3(D 3cCDr < o3' oOS 9 os 3 W 3 ffi SCDf. P0,,5* (3OQS "o CP co ECCDPL ZT CP 3 CQ 3 O _X3 3C*"D CO It if 1ST D--)J m(EfDt 0C3D 3 os CD < 3w O SCZD3 3o-n CD $I'Szr S Q. f3fl O S' < CCIDS oCD a_ Q. 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CD O CD 3 Q. T3 ffl 33 CQ ffl ffl N 33 CnD m o x-->t OCD a 2. CP rQ>. 5CP CCOP CD ^ 3CCD-V os zCDr CD ffl --oO 3 =r ffl <ffnl ^ 3 3= ffl o E 3 ffl C3Q' O Ct> B o C-mi TTu~C3>Di 3 0) 2 35 o o "oo 2o S` 9- 2: o' < =3 q = CD ^ Sao O =h CO ffl ffl 2w n* ZS CD O 3 g 3 zr 3* = CD 8 S CL 3 5* P- *fo<fl 29o: o 3 ffl CD o =5Tr* 033 cCaD* CD $ 5. CL CD "* CD o CO s. 3? ,, -n ffl --t $o <o9 2f 3* E. c l 33 zr a. CD -- o 3o 8 -cs- f__flCD oQ < W CCOD naphthol family, are widely used in printing inks, paints and plastics. Another plant at Bound Brook, scheduled for completion in early 1978, Will double our capacity for nigrosine dyes. These black colorants are O> "D .<5' O0 33 2 <D 3. CD CD O C H ZT 0 CL CD 0 CD W -n O O CD 7T O CD O (0Q. *3D p> CD <D CD CD Q. 3. a to " * Ol o 3 vP o O' 3 = S> 2 3 CD 3 CD 2 CO 2.0 ~-P 2. i. CD c S' Po i 'g 55'| to 5. 2. ST. i-* OCP C CD 3 o CD CD <D Q0> 0 ? cr c CD a? .8 3O. 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S 3 Q; 0 0* 0 C00O t2fo\. 00 C=03 22 0* 0 30 0 3 as 0O-*0* 0O' D Q0C. 05 3^3. *s. 8 a 0 ~t 3 00f o' 3 O o) 0*0 < 05 18 s3 o-> "a CQ S' g^ ^=r &g o5 -*CQ _JL T a? 10 3 ><. o 32. ^ 2? ^c& 0c po CL o2 O0- ^< 8 0 0 Q. 005o. -3j 0 2 02 IE r-f O 0* O O 0O0 0 3 ft 2 ^.*0 o* 2x 00 0 "O *2< 0o <3 0 Qc. =r q `X3 CQ g ca. >5 a co 0 0 5-fa 3D a$ Oc CL O 0 3 Q.* 0 2. CaD o' a0 g I O 2 0 0 3 2 'S 0 --t 2. 33. 3 o o* " ?c 05 D 0 CQ 3C. 3 O0'* 3 CD a 2. o co' I building a new supporting nitrobenzene plant at Bound Brook, for completion in m id-1978. This will enable us to maintain our position as a leading producer of upgraded aniline derivatives. The nitrobenzene co fS03 3 CD isCoD 0 oCD <' 03 5* CQ 03 Q Q. 83o Q0. --* 2. n' q' CQ Oc i: g. 03 Q *o 033 03 Q Q. 3 -o 03 O' CO Q a o oo CO 0 CD g. Q. b0z. g 2. CD 0-0t 5ca.* 3g5 cCDr *o ^g " ^ I S' CctO> 3 CO CL CO ~n 3* 0 f | cq 7* o a. c g_ 03 Q CD 0 03 O=: -0 0 CT C0O . oo 0^ _ CD> ^ WO o ,3 -oo CD Q0. "O n cr o3 3. o E> o 3. 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Prowl, shown in Insert at right being applied to soil after planting corn, kills many grasses and weeds before they can grow. In photo above, a group of Brazilian agronomists and farmers inspects a cotton crop where Prowl, known as Herbadox in Brazil, has been applied. SPECIALTY CHEMICALS 3 'Q ^ m q 3-< $ _, CL-< SC . C <D S ? i) Q.2 7 =3 3O. a2 55 3 ? Ci S; w S' 3 3f -* 3 JS CO Q Q. 3 n 17 3> < 9 a 3 5* g -o ^55c q*2o S' 3 O' 3 f3l - a o J3* 0* Q a-- aJO=* ' S ?'s* 9-* Sg 5|o "S5r. t*o>'o 3co S* to*<5? . 50 j 3' "*' 2.s C ~S> a ^ 3* 3 xo: o a CO _ O 3 3 *< &' CO o CL 3ex 2L g c d zr 3 CL ao < o 2. 3 m o o c 3 CL CL 0) 3 CO C <0 5 zr CD co CD CD -- CD TJ o *< O cz O cC* a CL CD < "H o zr "| 8 8 ? o' 3 CO Q. a 3-- --O1 Q_ 5 W 3 3h* *2. a s CD C_O_ 3 CD CO CD o <g sj t H s to - =r - oO 03Q5 ---a 5 zr o> ZT*^< o o' zr CD TJ 3. zr CD CD w CO g3' o o zr cr o <d 3 o "CO co a ~o g 3o O ! 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CD cn o CD 4* i\> cn -* O) ro O) c>o4 c0o5 o-4> -0*4) 4cnk ro 01 r-*o4 iA 4* p*- ro jo 7>i cn bo co to CO j-k JO -k cn m b K> n U O) CO 4k (D bo O 4k ^ o> o> Ol -k U1 -k (O ^ 4k CO -kj O) 4k --^ co co "4 con oco oco 4CkD. -cNo cn 4cko. -o* ^ ro ro ci\n5 s o) co o 0co5 cr\o5 co 4k ^ 03 pi "4 4cn. 4rok. o-4 Cn ^ 4k. -* cn co o) s CD 0-15 4nP*..J ^IN) COOO "0<453 4b. -k ro d o CO 05 co In ro -4 co CD -l - 4b- 05 4. aroicoo--^)Wco O--k )[oDcooorow-4 C4Dk 05 rcon. co -* do 4k 0O-k5 O_) O>1 05 O-k) cN0o3 CD 4~b4. 0cn0 CO CO co -c4n <0 ^4 4k CO -4 00 CO r-*o4 ANTIBIOTICS LITIGATION nam has been dismissed on the grounds that the country no longer exists. South Vietnam has filed an appeal from the ruling. On March 1,1976, the U.S. Supreme Court declined to review the decision of the Court of Appeals for the 8th Circuit that foreign governments have no right to "sue as parens patriae" under the U. 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