Additional memo from Mr. Gumbinner 26 Change of ownership

Through the years a number of companies tried to acquire Polychrome.  Among them were Itek, Fairchild Semi- conductor and a company in Queens which made auxiliary equipment for photographic films.  The owner may misunderstood Mr. Halpern and bought 11% of the Polychrome stock.  He wanted to put a director on the board.  Mr. Halpern rejected this and arranged for Rhone Polunec to buy this 11%.  When Mr. Halpern was ready to sell Polychrome  Rhone Polunec offered $22 a share.  Mr. Halpern declined and Raymond Piccard. although representing Rhone Polunec, backed him.  Mr. Piani did not vote.  Polychrome was sold to Dai Nippon Ink and Chemical for $29 a share.  Mr. Halpern pressured Mr. Gold, the financial vice president to resign.  He appointed Henry Levy President,

Additional memo from Mr. Gumbinner 25 Polychrome Columbus

We finally decided to move the plate making  lines to a building near the old North Philadelphia airport for which we put up an option.  I was to be in charge and I looked for a nearby house.  Mr. Halpern insisted that we make the emulsifier that was used for the subtractive plate developer.  To do this we needed a zoning variance.  We were told this should not be a problem.  But a man running for assembly man was opposed.  He won the election and since Mr. Halpern would not change his mind.  We dropped the option.  After Polychrome was acquired by Dai  Nippon Ink and Chemical, A building for the plate lines was erected in an industrial park in Columbus, Georgia. 

Additional memo from Mr. Gumbinner 24 New plate plant sites

Mr. Halpern started to look for a site which to move the plate lines.  I went with him to various paces in Sullivan county.  We met a builder in Newburgh who showed us possible sites.  We also saw a  farm on 200 acres , a house and a large cow barn  near Poughkeepsie that I liked.  We also went to Hazelton Penn. Where they made a strong pitch for us to locate there.  We sent our plant manager Leo Golusinski, who had been a foreman at the Alexander Smith Carpet works, to investigate Hazelton. He told us do not move there.  The workers were bitter coal miners and we would have labor troubles.  We went to Raleigh North Carolina and met the man in charge of industrial development.  He took us to Asheville where we saw several possible sites, one along the Swanannona  river.  He took us to Grove Park hotel we had lunch on the terrace overlooking a nine hole golf course.  He said there were sites in Winston Salem but our staff would not be comfortable there.  He then showed us places near Raleigh.  We sent Leo Golusinski to Asheville.  He reported favorably. He said there had been a police strike but it was not a labor union problem. The only other Alexander Smith worker who I know worked at Polychrome was Jack Roberts who ran the multigraph press in the lab to test the plates.