**EXHIBIT      21.1**

**PRINCIPAL      CONSOLIDATED SUBSIDIARIES AS OF DECEMBER 31, 2006**

| **Argentina**                                                   |   | **Indonesia**                                                        |
|-----------------------------------------------------------------|--------|----------------------------------------------------------------------|
| Hercules                Argentina S.A.                          |   |  P.T.                Hercules Chemicals Indonesia               |
|  **Austria**                                               |   |  **Italy**                                                      |
| Hercules                Austria GmbH                            |   |  Hercules                Italia S.p.A.                          |
|  **Bahamas**                                               |   | **Japan**                                                            |
| Hercules                International Trade Corporation Limited |   |  Hercules                Japan Ltd.                             |
|  **Belgium**                                               |   | **Korea**                                                            |
| Hercules                Beringen B.V.B.A.                       |   |  Hercules                Korea Chemical Co. Ltd.                |
| Hercules                Doel B.V.B.A.                           |   | **India**                                                            |
| Hercules                Europe B.V.B.A.                         |   | Hercules                Industrial Chemicals Private Limited         |
| Hercules                Holding B.V./B.V.B.A.                   |   |  **Luxembourg**                                                 |
|  **Bermuda**                                               |   | Hercules                Investments S.a.r.l.                         |
| Curtis                Bay Insurance Co. Ltd.                    |   | **Mexico**                                                           |
|  **Brazil**                                                |   | Hercules                Mexico, S.A. de C.V.                         |
| Hercules                do Brasil Produtos Quimicos Ltda.       |   | Hercules                Services Mexico S.A. de C.V.                 |
|  **British                Virgin Islands**                 |   | **The                Netherlands**                                   |
| Ever                Success Overseas Limited                    |   |  Aqualon                France B.V.                             |
|  **Canada**                                                |   | Hercules                B.V.                                         |
| Hercules                Canada Inc.                             |   |  Hercules                Chemical B.V.                          |
|  **Chile**                                                 |   | Hercules                Holding Specialty Materials B.V.             |
| Hercules                Chile Limitada                          |   |  Hercules                International Ltd. LLC                 |
|  **China**                                                 |   | **Norway**                                                           |
| Hercules                Asia Pacific (Shanghai) Regional        |   |  Hercules                Norway AS                              |
|     Company                Ltd.             |   |  **Peru**                                                       |
| Hercules                Chemicals (Jiangmen) Company Limited    |   |  Hercules                Peru S.R.L.                            |
| Hercules                Chemicals (Nanjing) Company Limited     |   | **Poland**                                                           |
| Hercules                Tianpu Chemicals Company Limited *(1)*  |   | Hercules                Polska Sp. z.o.o.                            |
| Hercules                Trading (Shanghai) Company Ltd.         |   |  **Portugal**                                                   |
| Shanghai                Hercules Chemicals Co., Ltd.            |   | Hercules                Portuguesa, Lda.                             |
|  **Czech                (Republic)**                       |   |  **Russia**                                                     |
| Hercules                CZ s.r.o.                               |   | Hercules                Russia L.L.C.                                |
| **Denmark**                                                     |   |  **Singapore**                                                  |
| Hercules                Investments ApS                         |   | Hercules                Chemical Solutions Pte Ltd.                  |
|  **Finland**                                               |   |  **South                Africa**                                |
| Hercules                Finland OY                              |   | Hercules                Chemicals South Africa (Proprietary) Limited |
|  **France**                                                |   |  **Spain**                                                      |
| Aqualon                France B.V.                              |   |  Hercules                Quimica S.A.                           |
| Hercules                SA                                      |   |  **Sweden**                                                     |
|  **Germany**                                               |   |  Hercules                AB                                     |
| Abieta                Chemie GmbH (1)                           |   |  **Switzerland**                                                |
|  Hercules                Deutschland GmbH                  |   |  Hercules                International GmbH                     |
| Hercules                GmbH                                    |   |  **Taiwan**                                                     |
|  **Hong                Kong**                              |   |  Hercules                Chemicals (Taiwan) Co., Ltd.           |
| Hercules                China Limited                           |   |                                                                 |

----

**EXHIBIT      21.1**

**PRINCIPAL      CONSOLIDATED SUBSIDIARIES AS OF DECEMBER 31, 2006**

|  **United                Kingdom**                        |   |
|----------------------------------------------------------------|--------|
| Hercules                Holding II Limited                     |   |
| Hercules                Limited                                |   |
|  **United                States**                         |   |
| Aqualon                Company, Delaware                       |   |
| East                Bay Realty Services, Inc., Delaware        |   |
| Hercules                Country Club, Inc.                     |   |
| Hercules                Euro Holdings, L.L.C., Delaware        |   |
| Hercules                Finance Company, Delaware              |   |
| Hercules                Flavor, Inc., Delaware                 |   |
| Hercules                Hydrocarbon Holdings, Inc., Delaware   |   |
| Hercules                Paper Holdings, Inc., Delaware         |   |
| WSP,                Inc., Delaware                             |   |
|  **U.S.                Virgin Islands**                   |   |
| Hercules                Islands Corporation (U.S.) *(1)*  |   |
|                                                           |   |

*(1)*

*      These entities are owned in part by Hercules with the remaining interests held      by third parties.*