Document zbLbXyNXqgmXR84wJ8GkeEB20

.x&LuJr r* FRED L. SHANK LI N REGIONAL VICE PRESIDENT UNION CARBIDE CORPORATION 120 SOUTH RIVERSIDE PLAZA CHICAGO, ILLINOIS 0S06 ;La _ S22 -722 3 November 4, 1968 Mr. F. D. Dexter 270 Park Avenue New York, N. Y. Dear Frank: This confirms our conversation of this morning in which I advised that there might be a possible interest by U. S. Gypsum in our asbestos activity. I talked to Graham Morgan, President and Chief Executive Officer of U. S. Gypsum, by telephone this afternoon who advised that Mr. Frank Appleyard heads up this interest for U. S. Gypsum. Mr. Appleyard is at the headquarters office, 101 South Wacker Drive, Chicago, 60606. I advised Mr. Morgan that we certainly were not advertising the asbestos opera tions as being for sale, that, in fact, we would be concerned about wide publicity on such an interest, since we would hardly know how to respond. I further said that we had done some very interesting R. & D. work as well as marketing of highly refined and chemically modified asbestos products, which were proprietary, that these were used as modifiers for resin systems and for special uses in the pulp and paper industry. I stated that the property was a developed mining property with a mill capable of producing upwards of 20, 000 tons a year. I further stated that there were tremendous reserves available and that a com bination of U. S. j>ypsum and ourselves might lead to greater enhanced develop ment of the opportunities there. Mr. Morgan said that he would have Mr. Appleyard call you. Very truly yours FLS:h