Abstract: An improved modified phenol-formaldehyde resin, and a process for its preparation, which contains lignosulfonates is described. Typically, the lignosulfonates are in the form of black liquor. These resins are made by including with the phenol a small amount of potassium ferricyanide. Unlike the known processes utilizing black liquors and the like, this process appears to be far less susceptible to the inherent variability of these liquors. These resins can be easily converted into a solid by spray drying, and find use as adhesives, for example in board products.