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UNION CARBIDE SELLS PHENOXY RESINS BUSINESS TO NEW PARTNERSHIP

 DANBURY, Conn., Jan. 29 /PRNewswire/ -- Sale of Union Carbide Corporation's (NYSE: UK) phenoxy resins business to Phenoxy Associates (PA) was announced today by the two companies. PA is a partnership which includes a group of former Union Carbide employees with 50 years' cumulative experience in the phenoxy business, with additional private financing from a trust associated with United Kingdom chemical industrialist Ken Schofield.
 Phenoxy resins are high molecular weight thermoplastics used in such applications as metal primers, binders for magnetic tapes, alloys, and adhesives.
 Provisions of the sale include transfer of Union Carbide's phenoxy unit at Bound Brook, N.J., to a site in Rock Hill, S.C. Contracts have been offered to customers assuring them of supply continuity from inventory accumulated for that purpose during the transition to the partnership.
 James F. Flynn, vice president and general manager of Union Carbide's solvents, resins, and intermediates business, said, "Selling the phenoxy business allows us to focus our resources in coatings resins on strengthening two important product groups -- solution vinyl resins and peroxymeric chemicals. To protect our phenoxy customers, we chose to sell to an organization that will be capable of providing continuity of supply."
 Union Carbide's peroxymeric chemicals include cycloaliphatic epoxides and caprolactone monomers and polymers.
 -0- 1/29/93
 /CONTACT: Greg Weingardt of Union Carbide, 203-794-2533/
 (UK)


CO: Union Carbide Corp.; Phenoxy Associates ST: Connecticut, South Carolina IN: CHM SU: TNM

CK -- NY049 -- 0756 01/29/93 12:27 EST
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Publication:PR Newswire
Date:Jan 29, 1993
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