For GenTek and many of our competitors, 2001 was a year of extraordinary challenges. After several years of strong growth, two of our key markets, automotive and telecommunications, contracted sharply, as a result of the economic slowdown and unprecedented industry-specific events. Consequently, GenTek sales declined despite gains achieved by our performance products group, and the company experienced a net loss. Economic Environment Price reductions demanded by U.S. automakers reduced the first-quarter profitability of many automotive suppliers. Although GenTek was able to manage the price reductions, the negative effect on profitability was compounded by the rapidly changing production schedules of automakers, ranging from plant shutdowns one week to operating well in excess of capacity the next. These fluctuations not only prevented us from making permanent cost reductions but also resulted in our incurring substantial incremental costs to handle the irregular schedules. In the fourth quarter of 2001, the much-publicized higher auto sales resulting from interest-free loans helped automakers bring inventories down but did not increase production rates. All in all, external events made 2001 a very difficult year for GenTek’s manufacturing segment.