PEOPLE - CHEMICALS

PEOPLE - CHEMICALS

REICHHOLD CHEMICALS INC. (White Plains, N.Y.) - Thomas R. Mitchell has been named president and chief exec- utive officer. Mr. Mitchell, a 31-year Reichhold veteran, succeeds Robert Powell who is retiring.

Mr. Mitchell has been executive vice president since 1983, having started as a laboratory technician in 1957. He becomes Reichhold's third chief executive officer since the company's founding in 1927.Reichhold was acquired by Dainippon Ink and Chemicals Inc. of Tokyo in September 1987.

Mr. Mitchell announced three major actions to upgrade the company. First, we are going to make good use of Dainippon's financial strength to increase

investments in our future. Second, we're going to continue our program of improving our process technology to bring it up to world-class competitiveness. Third, we're going to strengthen the research and development effort, he said.

Mr. Mitchell added that Reichhold is actively engaged in a technology transfer program with Dainippon. We're well on our way to commercializing some outstanding products from Dainippon.

The globalization of business is inevitable, especially in the chemical industry. Reichhold has an important role to play in the globalization of Dainippon's business. Mr. Mitchell brings perspective and experience to that role, said Shigekuni Kawamura, president and chief executive officer of Dainippon.

Reichhold Chemicals produces adhesives and polymers primarily for the adhesives, paper chemicals, coatings and plastics markets.