The Company develops and manufactures a broad range of wood protection products, fire retardant and specialty chemicals for use in residential and industrial wood applications. In addition, the Company provides treatment equipment which facilitates the handling and treatment of wood and chemicals and it provides comprehensive technical support services to timber treaters. The Company also develops and manufactures inorganic metallic chemicals for certain specialty markets.

The Company’s pool and spa chemicals are primarily non-chlorine based specialty chemicals such as algaecides, clarifiers, fragrances and foam reducers.

The Company develops and manufactures low-smoke vinyl alloys, such as SmokeGuard, which are used in high-end data and video communication, fiber optic and fire alarm wire and cable; halogen-free plastics, such as Sentra, which are used in industrial, aerospace, shipboard or oil rig cables as well as in communication cables; and a variety of TPE compounds, such as Garaflex, which are used in flexible cords, tray cables, booster cables, welding cables and automotive wiring. The Company develops and manufactures custom-made plastic compounds for use in products such as moldings, sealing gaskets, tool handles, writing instruments and ladder feet as well as other TPE-based products. The Company develops and manufactures a series of high-quality polyvinyl chloride, or PVC, compounds which are used to manufacture products such as tubing, disposable masks, and extraction resistant compounds used to make products to handle blood and bodily fluids. The Company develops and manufactures compounds for interior and exterior automotive applications such as airbag covers, steering wheel covers, gear shift knobs and boots, handle grips, body side molding and window gaskets.

The Company develops and manufactures chemicals for the printed circuit board industry, such as oxide treatments, electroplating additives, etching technology, electroless copper processes, Co-Bra Bond, the newer oxide replacement technology and a proprietary direct metallization process known as Shadow. The Company develops and manufactures a wide range of ultra-pure chemicals used in the manufacture of electronic and computer components such as semiconductors, silicon chips, wafers, and liquid crystal displays. The Company also develops and manufactures a broad range of chemicals used in the manufacture of photomasks. The Company provides a range of analytical, logistical and development support services to the semiconductor industry. These include total chemicals management, primarily offered in Singapore, under which the Company manages its clients' entire electronic process chemicals operations including providing logistics services, development of application-specific chemicals, analysis and control of customers' chemical distribution systems and quality audit and control of all inbound chemicals, including third party products.

The Company manufactures photomasks, which are used as master images to transfer integrated circuit detail onto semiconductor wafers during the fabrication of integrated circuits and other types of electronic components, such as thin film magnetic recording heads and optoelectronic devices, which emit or detect light.

Gross profit by $260.0 million to $475.9 million for the year ended December 31, 2004 compared to $215.9 million for the year ended December 31, 2003.

Operating income increased $75.0 million, or 122.7%, to $136.1 million for the year ended December 31, 2004 compared to $61.1 million for the year ended December 31, 2003.

During the years ended December 31, 2004 and 2003, interest expense, net, included a gain of $6.0 million and a loss of $6.0 million, respectively.

Net loss for the year ended December 31, 2004 was $216.1 million as compared to a net loss of $91.7 million for the year ended December 31, 2003.