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| Delaware                      | 77-0100596                                |
|-------------------------------|-------------------------------------------|
| (State      of Incorporation) | (I.R.S.      Employer Identification No.) |

| Title      of each class          |   | Name      of each exchange on which registered |
|-----------------------------------|--------|------------------------------------------------|
| Common      Stock $2.50 par value |   | New      York Stock Exchange                   |

| Large      accelerated filer x | Accelerated      filer ¨ | Non-accelerated      filer ¨ |
|--------------------------------|-------------------------------|-----------------------------------|

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AME

| PART I                                                                                                        | 4        |
|---------------------------------------------------------------------------------------------------------------|----------|
|                                                                                                          |     |
| ITEM 1 - BUSINESS                                                                                             | 4        |
|                                                                                                          |     |
| ITEM 1A - RISK FACTORS                                                                                        | 7        |
|                                                                                                          |     |
| ITEM 1B - UNRESOLVED STAFF COMMENTS                                                                           | 9        |
|                                                                                                          |     |
| ITEM 2 - PROPERTIES                                                                                           | 9        |
|                                                                                                          |     |
| ITEM 3 - LEGAL PROCEEDINGS                                                                                    | 11       |
|                                                                                                          |     |
| ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY      HOLDERS                                             | 12       |
|                                                                                                          |     |
| PART II                                                                                                       | 12       |
|                                                                                                          |     |
| ITEM 5 - MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED      STOCKHOLDER MATTERS                           | 12       |
|                                                                                                          |     |
| ITEM 6 - SELECTED FINANCIAL DATA                                                                              | 15       |
|                                                                                                          |     |
| ITEM 7 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL      CONDITION AND RESULTS OF OPERATIONS           | 16       |
|                                                                                                          |     |
| ITEM 7A - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT      MARKET RISK                                     | 28       |
|                                                                                                          |     |
| ITEM 8 - FINANCIAL STATEMENTS AND SUPPLEMENTARY      DATA                                                     | 30       |
|                                                                                                          |     |
| ITEM 9 - CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON      ACCOUNTING AND FINANCIAL DISCLOSURE            | 66       |
|                                                                                                          |     |
| ITEM 9A - CONTROLS AND PROCEDURES                                                                             | 66       |
|                                                                                                          |     |
| ITEM 9B - OTHER INFORMATION                                                                                   | 66       |
|                                                                                                          |     |
| PART III                                                                                                      | 67       |
|                                                                                                          |     |
| ITEM 10 - DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE      GOVERNANCE                                         | 67       |
|                                                                                                          |     |
| ITEM 11 - EXECUTIVE COMPENSATION                                                                              | 67       |
|                                                                                                          |     |
| ITEM 12 - SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS      AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS | 67       |
|                                                                                                          |     |
| ITEM 13 - CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS,      AND DIRECTOR INDEPENDENCE                      |  67 |
|                                                                                                          |     |
| ITEM 14 - PRINCIPAL ACCOUNTING FEES AND      SERVICES                                                         | 67       |
|                                                                                                          |     |
| PART IV                                                                                                       | 68       |
|                                                                                                          |     |
| ITEM 15 - EXHIBITS, FINANCIAL STATEMENT      SCHEDULES                                                        | 68       |

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| SEGMENT                              |   | 2009                |    |   | 2008   |   |
|--------------------------------------|--------|---------------------|---------|--------|--------|--------|
|                                 |   | (in      thousands) |    |
| Water      Transmission Group        |   | $                   | 88,296  |   |   | $      | 153,037 |   |
| Fiberglass-Composite      Pipe Group |   |                | 64,405  |   |   |   | 85,290 |   |
| Infrastructure      Products Group   |   |                | 23,046  |   |   |   | 26,904 |   |
|                                 |   |                |    |   |   |   |   |   |
| Total                                |   | $                   | 175,747 |   |   | $      | 265,231 |   |

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|   |   | In      thousands |   |
|--------|--------|-------------------|--------|
| 2009   |   | $                 | 36,246 |   |
| 2008   |   |              | 24,844 |   |
| 2007   |   |              | 34,044 |   |

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| Division      - Location                            |   | Description                 |
|-----------------------------------------------------|--------|-----------------------------|
| FIBERGLASS-COMPOSITE      PIPE GROUP                |   |                        |
| Fiberglass      Pipe Division - USA                 |   |                        |
| Houston,      TX                                    |   | *Office                     |
| Burkburnett,      TX                                |   | Office,      Plant          |
| Centron      International, Inc.                    |   |                        |
| Mineral      Wells, TX                              |   | Office,      Plant          |
| Ameron      B.V.                                    |   |                        |
| Geldermalsen,      the Netherlands                  |   | Office,      Plant          |
| Ameron      (Pte) Ltd.                              |   |                        |
| Singapore                                           |   | *Office,      Plant         |
| Ameron      Malaysia Sdn. Bhd.                      |   |                        |
| Malaysia                                            |   | *Office,      Plant         |
| Ameron      Polyplaster                             |   |                        |
| Betim,      Brazil                                  |   | Office,      Plant          |
| Ameron      Brazil                                  |   |                        |
| Betim,      Brazil                                  |   | Office,      Plant          |
|                                                |   |                        |
| WATER      TRANSMISSION GROUP                       |   |                        |
| Rancho      Cucamonga, CA                           |   | *Office                     |
| Rancho      Cucamonga, CA                           |   | Office,      Plant          |
| Fontana,      CA                                    |   | Office,      Plant          |
| Lakeside,      CA                                   |   | Office,      Plant          |
| Phoenix,      AZ                                    |   | Office,      Plant          |
| Tracy,      CA                                      |   | Office,      Plant          |
| Protective      Linings Division                    |   |                        |
| Brea,      CA                                       |   | Office,      Plant          |
| Tubos      California                               |   |                        |
| Pasadena,      CA                                   |   | *Office                     |
| Tubos      Y Activos                                |   |                        |
| Mexicali,      Mexico                               |   | *Office,      Plant         |
| American      Pipe & Construction International |   |                        |
| Bogota,      Colombia                               |   | Office,      Plant          |
| Cali,      Colombia                                 |   | Office,      Plant          |
|                                                |   |                        |
| INFRASTRUCTURE      PRODUCTS GROUP                  |   |                        |
| Hawaii      Division                                |   |                        |
| Honolulu,      Oahu, HI                             |   | *Office,      Plant         |
| Kailua,      Oahu, HI                               |   | *Plant,      Quarry         |
| Barbers      Point, Oahu, HI                        |   | Office,      Plant          |
| Puunene,      Maui, HI                              |   | *Office,      Plant, Quarry |
| Pole      Products Division                         |   |                        |
| Ventura,      CA                                    |   | *Office                     |
| Fillmore,      CA                                   |   | Office,      Plant          |
| Oakland,      CA                                    |   | *Plant                      |
| Everett,      WA                                    |   | *Office,      Plant         |
| Tulsa,      OK                                      |   | *Office,      Plant         |
| Anniston,      AL                                   |   | *Office,      Plant         |
|                                                |   |                        |
| CORPORATE                                           |   |                        |
| Corporate      Headquarters                         |   |                        |
| Pasadena,      CA                                   |   | *Office                     |
| Hull,      UK                                       |   | **Office,      Plant        |
| Corporate      Research & Engineering           |   |                        |
| Long      Beach, CA                                 |   | *Office                     |
| South      Gate, CA                                 |   | Office,      Laboratory     |

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|  Name               |   | Age    |   | Title      and Year Elected as Officer                                                    |
|--------------------------|--------|--------|--------|-------------------------------------------------------------------------------------------|
| James      L. Balas      |   | 39     |   | Vice      President, Controller                                                           | 2009 |
|                     |   |   |   |                                                                                      |   |
| Ralph      S. Friedrich  |   | 62     |   | Senior      Vice President-Technology                                                     | 2003 |
|                     |   |   |   |                                                                                      |   |
| Stephen      E. Johnson  |   | 55     |   | Senior      Vice President, Secretary & General Counsel                               | 2008 |
|                     |   |   |   |                                                                                      |   |
| James      R. McLaughlin |   | 62     |   | Senior      Vice President, Corporate Development & Treasurer                         | 1997 |
|                     |   |   |   |                                                                                      |   |
| Mark      J. Nowak       |   | 55     |   | Vice      President; Group President, Fiberglass-Composite PipeGroup                      | 2008 |
|                     |   |   |   |                                                                                      |   |
| Terrence      P. O'Shea  |   | 63     |   | Vice      President-Human Resources                                                       | 2003 |
|                     |   |   |   |                                                                                      |   |
| Christine      Stanley   |   | 51     |   | Vice      President-Operations Compliance                                                 | 2008 |
|                     |   |   |   |                                                                                      |   |
| Gary      Wagner         |   | 58     |   | Senior      Vice President, Finance and Administration & Chief Financial      Officer | 1990 |

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|                            |   | 12/1/04 |   |   | 11/30/05 |   |   | 11/30/06 |   |   | 11/30/07 |   |   | 11/30/08 |   |   | 11/30/09 |   |
|---------------------------------|--------|---------|--------|--------|----------|--------|--------|----------|--------|--------|----------|--------|--------|----------|--------|--------|----------|--------|
| Ameron                          |   | $       | 100.00 |   |     | $      | 120.99 |     |   | $      | 205.09   |   |   | $        | 291.48 |   |     | $      | 150.82 |   |   | $ | 162.76 |   |
| NYSE      Market Value Index    |   |    | 100.00 |   |     |   | 111.31 |     |   |   | 129.46   |   |   |     | 142.47 |   |     |   | 87.63 |   |   |   | 110.94 |   |
| Peer      Group Composite Index |   |    | 100.00 |   |     |   | 132.75 |     |   |   | 170.88   |   |   |     | 219.53 |   |     |   | 125.90 |   |   |   | 148.01 |   |

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|                       |   |                   |   |                 |   | (c)                       |   | (d)                                |
|----------------------------|--------|------------------------|--------|----------------------|--------|---------------------------|--------|------------------------------------|
|                       |   |                   |   |                 |   | Number      of Shares     |   | Maximum      Number                |
|                       |   | (a)                    |   | (b)                  |   | (or      Units) Purchased |   | (or      Approximate Dollar Value) |
|                       |   | Total      Number of   |   | Average      Price   |   | As      Part of Publicly  |   | of      Shares (or Units) that May |
|                       |   | Shares      (or Units) |   | Paid      per        |   | Announced      Plans or   |   | Yet      Be Purchased Under        |
| Period                     |   | Purchased              |   | Share      (or Unit) |   | Programs                  |   | Plans      or Programs**           |
| 8/31/09      thru 9/27/09  |   | -                      |   | N/A                  |   | -                         |   | -                                  |
| 9/28/09      thru 11/1/09  |   | -                      |   | N/A                  |   | -                         |   | -                                  |
| 11/2/09      thru 11/30/09 |   | -                      |   | N/A                  |   | -                         |   | -                                  |

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|                                                   |   | Year      ended November 30, |      |
|--------------------------------------------------------|--------|------------------------------|-----------|
| (Dollars      in thousands, except per share data)     |   | 2009                         |      |   | 2008 |   |   | 2007 |   |   | 2006 |   |   | 2005 |   |
|                                                   |   |                         |      |   |   |   |   |   |   |   |   |   |   |   |   |
| PER      COMMON SHARE DATA                             |   |                         |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic      earnings per share:                         |   |                         |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Income      from continuing operations                 |   | $                            | 3.54      |   |   | $ | 6.42 |   |   | $ | 6.77 |   |   | $ | 5.73 |   |   | $ | 3.51 |   |
| Income      from discontinued operations, net of taxes |   |                         | .09       |   |   |   | - |   |   |   | .68 |   |   |   | .25 |   |   |   | .37 |   |
| Net      income                                        |   |                         | 3.63      |   |   |   | 6.42 |   |   |   | 7.45 |   |   |   | 5.98 |   |   |   | 3.88 |   |
| Diluted      earnings per share:                       |   |                         |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income      from continuing operations                 |   |                         | 3.54      |   |   |   | 6.39 |   |   |   | 6.73 |   |   |   | 5.64 |   |   |   | 3.44 |   |
| Income      from discontinued operations, net of taxes |   |                         | .09       |   |   |   | - |   |   |   | .67 |   |   |   | .24 |   |   |   | .36 |   |
| Net      income                                        |   |                         | 3.63      |   |   |   | 6.39 |   |   |   | 7.40 |   |   |   | 5.88 |   |   |   | 3.80 |   |
|                                                   |   |                         |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted-average      shares (basic)                   |   |                         | 9,166,558 |   |   |   | 9,124,557 |   |   |   | 9,029,487 |   |   |   | 8,731,839 |   |   |   | 8,410,563 |   |
| Weighted-average      shares (diluted)                 |   |                         | 9,184,771 |   |   |   | 9,169,056 |   |   |   | 9,090,846 |   |   |   | 8,871,695 |   |   |   | 8,579,194 |   |
| Dividends                                              |   |                         | 1.20      |   |   |   | 1.15 |   |   |   | .90 |   |   |   | .80 |   |   |   | .80 |   |
| Stock      price - high                                |   |                         | 89.00     |   |   |   | 130.51 |   |   |   | 109.60 |   |   |   | 80.01 |   |   |   | 46.61 |   |
| Stock      price - low                                 |   |                         | 41.86     |   |   |   | 33.30 |   |   |   | 64.35 |   |   |   | 44.66 |   |   |   | 31.76 |   |
| Price/earnings      ratio (range)                      |   |                         | 25-12     |   |   |   | 20-5 |   |   |   | 15-9 |   |   |   | 14-8 |   |   |   | 12-8 |   |
| OPERATING      RESULTS                                 |   |                         |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Sales                                                  |   | $                            | 546,944   |   |   | $ | 667,543 |   |   | $ | 631,010 |   |   | $ | 549,180 |   |   | $ | 494,767 |   |
| Gross      profit                                      |   |                         | 145,452   |   |   |   | 153,621 |   |   |   | 146,029 |   |   |   | 132,389 |   |   |   | 125,210 |   |
| Interest      income/(expense), net                    |   |                         | 588       |   |   |   | 1,533 |   |   |   | 1,927 |   |   |   | (1,682 | ) |   |   | (5,520 | ) |
| Provision      for income taxes                        |   |                         | (15,517   | ) |   |   | (16,955 | ) |   |   | (10,359 | ) |   |   | (10,905 | ) |   |   | (11,040 | ) |
| Equity      in earnings of joint venture, net of taxes |   |                         | (5,512    | ) |   |   | 10,337 |   |   |   | 15,383 |   |   |   | 13,550 |   |   |   | 9,005 |   |
| Income      from continuing operations                 |   |                         | 32,483    |   |   |   | 58,592 |   |   |   | 61,140 |   |   |   | 50,060 |   |   |   | 29,509 |   |
| Income      from discontinued operations, net of taxes |   |                         | 817       |   |   |   | - |   |   |   | 6,099 |   |   |   | 2,140 |   |   |   | 3,101 |   |
| Net      income                                        |   |                         | 33,300    |   |   |   | 58,592 |   |   |   | 67,239 |   |   |   | 52,200 |   |   |   | 32,610 |   |
| Net      income/sales                                  |   |                         | 6.1       | % |   |   | 8.8 | % |   |   | 10.7 | % |   |   | 9.5 | % |   |   | 6.6 | % |
| Return      on equity                                  |   |                         | 6.9       | % |   |   | 12.7 | % |   |   | 16.6 | % |   |   | 15.8 | % |   |   | 11.3 | % |
| FINANCIAL      CONDITION AT YEAR-END (1)               |   |                         |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Working      capital                                   |   | $                            | 287,467   |   |   | $ | 297,445 |   |   | $ | 314,339 |   |   | $ | 280,467 |   |   | $ | 216,126 |   |
| Property,      plant and equipment, net                |   |                         | 238,508   |   |   |   | 206,162 |   |   |   | 173,731 |   |   |   | 134,470 |   |   |   | 154,665 |   |
| Investments                                            |   |                         |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equity      method venture                             |   |                         | 30,626    |   |   |   | 14,428 |   |   |   | 14,677 |   |   |   | 14,501 |   |   |   | 13,777 |   |
| Cost      method ventures                              |   |                         | 3,784     |   |   |   | 3,784 |   |   |   | 3,784 |   |   |   | 3,784 |   |   |   | 5,922 |   |
| Total      assets                                      |   |                         | 762,549   |   |   |   | 726,322 |   |   |   | 705,812 |   |   |   | 616,351 |   |   |   | 578,036 |   |
| Long-term      debt, less current portion              |   |                         | 30,933    |   |   |   | 35,989 |   |   |   | 57,593 |   |   |   | 72,525 |   |   |   | 77,109 |   |
| CASH      FLOW (1)                                     |   |                         |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expenditures      for property, plant and equipment    |   | $                            | 46,874    |   |   | $ | 60,697 |   |   | $ | 47,697 |   |   | $ | 35,519 |   |   | $ | 25,371 |   |
| Depreciation      and amortization                     |   |                         | 22,108    |   |   |   | 20,409 |   |   |   | 17,034 |   |   |   | 17,440 |   |   |   | 18,924 |   |

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|                                         |   | 1%      Increase |    |   | 1%      Decrease |   |
|----------------------------------------------|--------|------------------|---------|--------|------------------|--------|
|                                         |   | Increase/        |    |   | Increase/        |   |   | Increase/ |   |   | Increase/ |   |
|                                         |   | (Decrease)       |    |   | (Decrease)       |   |   | (Decrease) |   |   | (Decrease) |   |
|                                         |   | in      Benefit  |    |   | in      Benefit  |   |   | in      Benefit |   |   | in      Benefit |   |
|  (In      thousands)                    |   | Obligations      |    |   | Costs            |   |   | Obligations |   |   | Costs |   |
| Discount      rate:                          |   |             |    |   |             |   |   |   |   |   |   |   |
| Pensions                                     |   | $                | (27,906 | )      |             | $      | (3,259 | ) |   | $ | 34,080 |   |   | $ | 3,567 |   |
| Other      postretirement benefits           |   |             | (330    | )      |             |   | (29 | ) |   |   | 384 |   |   |   | 9 |   |
| Expected      rate of return on assets       |   |             | N/A     |   |             |   | (1,955 | ) |   |   | N/A |   |   |   | 1,955 |   |
| Rate      of increase in compensation levels |   |             | 3,031   |   |             |   | 685 |   |   |   | (2,732 | ) |   |   | (622 | ) |
| Rate      of increase in health care costs   |   |             | 151     |   |             |   | 19 |   |   |   | (134 | ) |   |   | (16 | ) |

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|                                   |   | Payments      Due by Period |   |
|----------------------------------------|--------|-----------------------------|--------|
|                                   |   |                        |   |   | Less      than |   |   |   |   |   |   |   |   | After      5 |   |
| Contractual      Obligations           |   | Total                       |   |   | 1      year |   |   | 1-3      years |   |   | 3-5      years |   |   | years |   |
| Long-term      debt                    |   | $                           | 38,299 |   |   | $ | 7,366 |   |   | $ | 15,233 |   |   | $ | - |   |   | $ | 15,700 |   |
|                                   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest      payments on debt (a)     |   |                        | 2,709  |   |   |   | 1,074 |   |   |   | 1,110 |   |   |   | 173 |   |   |   | 352 |   |
|                                   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating      leases                  |   |                        | 36,080 |   |   |   | 4,224 |   |   |   | 6,168 |   |   |   | 2,617 |   |   |   | 23,071 |   |
|                                   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Pension      funding                   |   |                        | 14,400 |   |   |   | 14,400 |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                                   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Uncertain      tax positions           |   |                        | 390    |   |   |   | 390 |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                                   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      contractual obligations (b) |   | $                           | 91,878 |   |   | $ | 27,454 |   |   | $ | 22,511 |   |   | $ | 2,790 |   |   | $ | 39,123 |   |

|                               |   | Commitments      Expiring Per Period |   |
|------------------------------------|--------|--------------------------------------|--------|
|                               |   |                                 |   |   | Less      than |   |   |   |   |   |   |   |   | After |   |
| Contractual      Commitments       |   | Total                                |   |   | 1      year |   |   | 1-3      years |   |   | 3-5      years |   |   | 5      years |   |
| Standby      letters of credit (c) |   | $                                    | 1,865  |   |   | $ | 1,865 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |
|                               |   |                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      commercial commitments  |   | $                                    | 1,865  |   |   | $ | 1,865 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |

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|                                                                               |   |                        |   |   | Total      Outstanding            |   |
|------------------------------------------------------------------------------------|--------|-----------------------------|--------|--------|-----------------------------------|--------|
|                                                                               |   |                        |   |   | As      of November 30, 2009 |   |
|                                                                               |   | Expected      Maturity Date |   |   | Recorded                          |   |   | Fair |   |
|  (Dollars      in thousands)                                                  |   | 2010                        |   |   | 2011                              |   |   | 2012 |   |   | 2013 |   |   | 2014 |   |   | Thereafter |   |   | Value |   |   | Value |   |
| Liabilities                                                                        |   |                        |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long-term      debt:                                                               |   |                        |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed-rate      secured notes,  payable in Singapore dollars             |   | $                           | 7,366  |   |                              | $      | 7,366 |   |   | $ | 7,366 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 22,098 |   |   | $ | 22,741 |   |
| Average      interest rate                                                         |   |                        | 4.25   | %      |                              |   | 4.25 | % |   |   | 4.25 | % |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 4.25 | % |   |   |   |   |
|                                                                               |   |                        |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Variable-rate      bank revolving credit facilities, payable in Colombian    pesos |   |                        | -      |   |                              |   | - |   |   |   | 501 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 501 |   |   |   | 501 |   |
| Average      interest rate                                                         |   |                        | -      |   |                              |   | - |   |   |   | 7.10 | % |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 7.10 | % |   |   |   |   |
|                                                                               |   |                        |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Variable-rate      industrial development bonds, payable in US$                    |   |                        | -      |   |                              |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 7,200 |   |   |   | 7,200 |   |   |   | 7,200 |   |
| Average      interest rate                                                         |   |                        | -      |   |                              |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | .55 | % |   |   | .55 | % |   |   |   |   |
|                                                                               |   |                        |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Variable-rate      industrial development bonds, payable in US$                    |   |                        | -      |   |                              |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 8,500 |   |   |   | 8,500 |   |   |   | 8,500 |   |
| Average      interest rate                                                         |   |                        | -      |   |                              |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | .55 | % |   |   | .55 | % |   |   |   |   |

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ITE

|                                                                                                                     |   | Year      ended November 30, |      |
|--------------------------------------------------------------------------------------------------------------------------|--------|------------------------------|-----------|
|                                                                                                                     |   |                         |      |   |   |   |   |   |   |
| (Dollars      in thousands, except per share data)                                                                       |   | 2009                         |      |   | 2008 |   |   | 2007 |   |
| Sales                                                                                                                    |   | $                            | 546,944   |   |   | $ | 667,543 |   |   | $ | 631,010 |   |
| Cost      of sales                                                                                                       |   |                         | (401,492  | ) |   |   | (513,922 | ) |   |   | (484,981 | ) |
| Gross      profit                                                                                                        |   |                         | 145,452   |   |   |   | 153,621 |   |   |   | 146,029 |   |
|                                                                                                                     |   |                         |      |   |   |   |   |   |   |   |   |   |
| Selling,      general and administrative expenses                                                                        |   |                         | (99,976   | ) |   |   | (98,166 | ) |   |   | (97,870 | ) |
| Other      income, net                                                                                                   |   |                         | 7,448     |   |   |   | 8,222 |   |   |   | 6,030 |   |
| Income      from continuing operations before interest, income taxes and equity in      (loss)/earnings of joint venture |   |                         | 52,924    |   |   |   | 63,677 |   |   |   | 54,189 |   |
| Interest      income, net                                                                                                |   |                         | 588       |   |   |   | 1,533 |   |   |   | 1,927 |   |
| Income      from continuing operations before income taxes and equity in      (loss)/earnings of joint venture           |   |                         | 53,512    |   |   |   | 65,210 |   |   |   | 56,116 |   |
| Provision      for income taxes                                                                                          |   |                         | (15,517   | ) |   |   | (16,955 | ) |   |   | (10,359 | ) |
| Income      from continuing operations before equity in (loss)/earnings of joint      venture                            |   |                         | 37,995    |   |   |   | 48,255 |   |   |   | 45,757 |   |
| Equity      in (loss)/earnings of joint venture, net of taxes                                                            |   |                         | (5,512    | ) |   |   | 10,337 |   |   |   | 15,383 |   |
| Income      from continuing operations                                                                                   |   |                         | 32,483    |   |   |   | 58,592 |   |   |   | 61,140 |   |
| Income      from discontinued operations, net of taxes                                                                   |   |                         | 817       |   |   |   | - |   |   |   | 6,099 |   |
| Net      income                                                                                                          |   | $                            | 33,300    |   |   | $ | 58,592 |   |   | $ | 67,239 |   |
|                                                                                                                     |   |                         |      |   |   |   |   |   |   |   |   |   |
| Basic      earnings per share:                                                                                           |   |                         |      |   |   |   |   |   |   |   |   |   |
| Income      from continuing operations                                                                                   |   | $                            | 3.54      |   |   | $ | 6.42 |   |   | $ | 6.77 |   |
| Income      from discontinued operations, net of taxes                                                                   |   |                         | .09       |   |   |   | - |   |   |   | .68 |   |
| Net      income                                                                                                          |   | $                            | 3.63      |   |   | $ | 6.42 |   |   | $ | 7.45 |   |
|                                                                                                                     |   |                         |      |   |   |   |   |   |   |   |   |   |
| Diluted      earnings per share:                                                                                         |   |                         |      |   |   |   |   |   |   |   |   |   |
| Income      from continuing operations                                                                                   |   | $                            | 3.54      |   |   | $ | 6.39 |   |   | $ | 6.73 |   |
| Income      from discontinued operations, net of taxes                                                                   |   |                         | .09       |   |   |   | - |   |   |   | .67 |   |
| Net      income                                                                                                          |   | $                            | 3.63      |   |   | $ | 6.39 |   |   | $ | 7.40 |   |
|                                                                                                                     |   |                         |      |   |   |   |   |   |   |   |   |   |
| Weighted-average      shares (basic)                                                                                     |   |                         | 9,166,558 |   |   |   | 9,124,557 |   |   |   | 9,029,487 |   |
| Weighted-average      shares (diluted)                                                                                   |   |                         | 9,184,771 |   |   |   | 9,169,056 |   |   |   | 9,090,846 |   |

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|                                                                                                           |   | As      of November 30, |     |
|----------------------------------------------------------------------------------------------------------------|--------|-------------------------|----------|
|                                                                                                           |   |                    |     |   |   |   |
| (Dollars      in thousands)                                                                                    |   | 2009                    |     |   | 2008 |   |
| ASSETS                                                                                                         |   |                    |     |   |   |   |
|                                                                                                           |   |                    |     |   |   |   |
| Current      assets                                                                                            |   |                    |     |   |   |   |
| Cash      and cash equivalents                                                                                 |   | $                       | 181,114  |   |   | $ | 143,561 |   |
| Receivables,      less allowances of $5,351in 2009 and $7,009 in 2008                                          |   |                    | 151,210  |   |   |   | 181,961 |   |
| Inventories                                                                                                    |   |                    | 62,700   |   |   |   | 95,645 |   |
| Deferred      income taxes                                                                                     |   |                    | 19,795   |   |   |   | 25,582 |   |
| Prepaid      expenses and other current assets                                                                 |   |                    | 11,585   |   |   |   | 10,053 |   |
|                                                                                                           |   |                    |     |   |   |   |   |   |
| Total      current assets                                                                                      |   |                    | 426,404  |   |   |   | 456,802 |   |
|                                                                                                           |   |                    |     |   |   |   |   |   |
| Investments                                                                                                    |   |                    |     |   |   |   |   |   |
| Equity      method venture                                                                                     |   |                    | 30,626   |   |   |   | 14,428 |   |
| Cost      method ventures                                                                                      |   |                    | 3,784    |   |   |   | 3,784 |   |
|                                                                                                           |   |                    |     |   |   |   |   |   |
| Property,      plant and equipment                                                                             |   |                    |     |   |   |   |   |   |
| Land                                                                                                           |   |                    | 46,029   |   |   |   | 38,679 |   |
| Buildings                                                                                                      |   |                    | 100,583  |   |   |   | 85,555 |   |
| Machinery      and equipment                                                                                   |   |                    | 345,604  |   |   |   | 306,177 |   |
| Construction      in progress                                                                                  |   |                    | 32,306   |   |   |   | 37,386 |   |
|                                                                                                           |   |                    |     |   |   |   |   |   |
| Total      property, plant and equipment at cost                                                               |   |                    | 524,522  |   |   |   | 467,797 |   |
| Accumulated      depreciation                                                                                  |   |                    | (286,014 | ) |   |   | (261,635 | ) |
|                                                                                                           |   |                    |     |   |   |   |   |   |
| Total      property, plant and equipment, net                                                                  |   |                    | 238,508  |   |   |   | 206,162 |   |
| Deferred      income taxes                                                                                     |   |                    | 14,321   |   |   |   | 4,763 |   |
| Goodwill      and intangible assets, net of accumulated amortization of $1,257 in 2009      and $1,197 in 2008 |   |                    | 2,088    |   |   |   | 2,108 |   |
| Other      assets                                                                                              |   |                    | 46,818   |   |   |   | 38,275 |   |
|                                                                                                           |   |                    |     |   |   |   |   |   |
| Total      assets                                                                                              |   | $                       | 762,549  |   |   | $ | 726,322 |   |

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|                                                                                                                                                                            |   | As      of November 30, |    |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|---------|
|                                                                                                                                                                            |   |                    |    |   |   |   |
| (Dollars      in thousands, except per share data)                                                                                                                              |   | 2009                    |    |   | 2008 |   |
| LIABILITIES      AND STOCKHOLDERS' EQUITY                                                                                                                                       |   |                    |    |   |   |   |
|                                                                                                                                                                            |   |                    |    |   |   |   |
| Current      liabilities                                                                                                                                                        |   |                    |    |   |   |   |
| Current      portion of long-term debt                                                                                                                                          |   | $                       | 7,366   |   |   | $ | 16,763 |   |
| Trade      payables                                                                                                                                                             |   |                    | 44,052  |   |   |   | 52,613 |   |
| Accrued      liabilities                                                                                                                                                        |   |                    | 77,515  |   |   |   | 79,538 |   |
| Income      taxes payable                                                                                                                                                       |   |                    | 10,004  |   |   |   | 10,443 |   |
|                                                                                                                                                                            |   |                    |    |   |   |   |   |   |
| Total      current liabilities                                                                                                                                                  |   |                    | 138,937 |   |   |   | 159,357 |   |
|                                                                                                                                                                            |   |                    |    |   |   |   |   |   |
| Long-term      debt, less current portion                                                                                                                                       |   |                    | 30,933  |   |   |   | 35,989 |   |
| Deferred      income taxes                                                                                                                                                      |   |                    | 1,710   |   |   |   | 3,806 |   |
| Other      long-term liabilities                                                                                                                                                |   |                    | 99,379  |   |   |   | 50,050 |   |
|                                                                                                                                                                            |   |                    |    |   |   |   |   |   |
| Total      liabilities                                                                                                                                                          |   |                    | 270,959 |   |   |   | 249,202 |   |
|                                                                                                                                                                            |   |                    |    |   |   |   |   |   |
| Commitments      and contingencies                                                                                                                                              |   |                    |    |   |   |   |   |   |
|                                                                                                                                                                            |   |                    |    |   |   |   |   |   |
|  Stockholders'      equity                                                                                                                                                 |   |                    |    |   |   |   |   |   |
| Common      Stock, par value $2.50 per share, authorized 24,000,000 shares,      outstanding 9,209,836 shares in 2009 and 9,188,692 shares in 2008, net of      treasury shares |   |                    | 29,920  |   |   |   | 29,805 |   |
| Additional      paid-in capital                                                                                                                                                 |   |                    | 59,531  |   |   |   | 54,447 |   |
| Retained      earnings                                                                                                                                                          |   |                    | 500,224 |   |   |   | 478,968 |   |
| Accumulated      other comprehensive loss                                                                                                                                       |   |                    | (42,036 | ) |   |   | (31,475 | ) |
| Treasury      Stock (2,758,356 shares in 2009 and 2,733,300 shares in    2008)                                                                                                  |   |                    | (56,049 | ) |   |   | (54,625 | ) |
|                                                                                                                                                                            |   |                    |    |   |   |   |   |   |
| Total      stockholders' equity                                                                                                                                                 |   |                    | 491,590 |   |   |   | 477,120 |   |
|                                                                                                                                                                            |   |                    |    |   |   |   |   |   |
| Total      liabilities and stockholders' equity                                                                                                                                 |   | $                       | 762,549 |   |   | $ | 726,322 |   |

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|                                                             |   | Common      Stock |      |   |   |   |   |       |   |   | Accumulated |   |   |          |    |   |     |   |
|------------------------------------------------------------------|--------|-------------------|-----------|--------|--------|--------|--------|------------|--------|--------|-------------|--------|--------|---------------|---------|--------|----------|--------|
|                                                             |   |              |      |   |   |   |   | Additional |   |   |        |   |   | Other         |    |   |     |   |   |   |   |
|                                                             |   | Shares            |      |   |   |   |   | Paid-in    |   |   | Retained    |   |   | Comprehensive |    |   | Treasury |   |   |   |   |
| (Dollars      in thousands)                                      |   | Outstanding       |      |   | Amount |   |   | Capital    |   |   | Earnings    |   |   | Loss          |    |   | Stock    |   |   | Total |   |
| Balance,      November 30, 2006                                  |   |              | 9,075,094 |   |   | $      | 29,431 |       |   | $      | 39,500      |   |   | $             | 371,894 |   |     | $      | (27,232 | ) |   | $ | (50,368 | ) |   | $ | 363,225 |   |
| Net      Income - 2007                                           |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | 67,239  |   |     |   | - |   |   |   | - |   |   |   | 67,239 |   |
| Exercise      of stock options                                   |   |              | 49,125    |   |   |   | 106    |       |   |   | 1,456       |   |   |          | -       |   |     |   | - |   |   |   | - |   |   |   | 1,562 |   |
| Foreign      currency translation adjustment                     |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | -       |   |     |   | 8,210 |   |   |   | - |   |   |   | 8,210 |   |
| Minimum      pension liability adjustment, net of tax            |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | -       |   |     |   | 15,237 |   |   |   | - |   |   |   | 15,237 |   |
| Adjustment      for initial adoption of SFAS No. 158, net of tax |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | -       |   |     |   | (6,035 | ) |   |   | - |   |   |   | (6,035 | ) |
| Comprehensive      loss from joint venture                       |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | -       |   |     |   | (50 | ) |   |   | - |   |   |   | (50 | ) |
| Cash      dividends on Common Stock                              |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | (8,208  | )      |     |   | - |   |   |   | - |   |   |   | (8,208 | ) |
| Stock      compensation expense                                  |   |              | -         |   |   |   | -      |       |   |   | 103         |   |   |          | -       |   |     |   | - |   |   |   | - |   |   |   | 103 |   |
| Issuance      of restricted stock                                |   |              | 34,550    |   |   |   | 86     |       |   |   | (86         | )      |   |          | -       |   |     |   | - |   |   |   | - |   |   |   | - |   |
| Excess      tax benefit related to stock-based compensation      |   |              | -         |   |   |   | -      |       |   |   | 1,955       |   |   |          | -       |   |     |   | - |   |   |   | - |   |   |   | 1,955 |   |
| Restricted      stock compensation expense                       |   |              | -         |   |   |   | -      |       |   |   | 3,747       |   |   |          | -       |   |     |   | - |   |   |   | - |   |   |   | 3,747 |   |
| Treasury      stock purchase                                     |   |              | (20,206   | )      |   |   | -      |       |   |   | -           |   |   |          | -       |   |     |   | - |   |   |   | (1,612 | ) |   |   | (1,612 | ) |
| Balance,      November 30, 2007                                  |   |              | 9,138,563 |   |   |   | 29,623 |       |   |   | 46,675      |   |   |          | 430,925 |   |     |   | (9,870 | ) |   |   | (51,980 | ) |   |   | 445,373 |   |
| Net      Income - 2008                                           |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | 58,592  |   |     |   | - |   |   |   | - |   |   |   | 58,592 |   |
| Exercise      of stock options                                   |   |              | 28,750    |   |   |   | 72     |       |   |   | 348         |   |   |          | -       |   |     |   | - |   |   |   | - |   |   |   | 420 |   |
| Foreign      currency translation adjustment                     |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | -       |   |     |   | (11,860 | ) |   |   | - |   |   |   | (11,860 | ) |
| Defined      benefit pension plans, net of tax                   |   |              |      |   |   |   |   |       |   |   |        |   |   |          |    |   |     |   |   |   |   |   |   |   |   |   |   |   |
| Net      prior service cost                                      |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | -       |   |     |   | (200 | ) |   |   | - |   |   |   | (200 | ) |
| Net      actuarial loss                                          |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | -       |   |     |   | (8,666 | ) |   |   | - |   |   |   | (8,666 | ) |
| Forfeiture      of restricted stock                              |   |              | -         |   |   |   | -      |       |   |   | 91          |   |   |          | -       |   |     |   | - |   |   |   | (91 | ) |   |   | - |   |
| Comprehensive      loss from joint venture                       |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | -       |   |     |   | (879 | ) |   |   | - |   |   |   | (879 | ) |
| Cash      dividends on Common Stock                              |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | (10,549 | )      |     |   | - |   |   |   | - |   |   |   | (10,549 | ) |
| Stock      compensation expense                                  |   |              | -         |   |   |   | -      |       |   |   | 76          |   |   |          | -       |   |     |   | - |   |   |   | - |   |   |   | 76 |   |
| Issuance      of restricted stock                                |   |              | 44,200    |   |   |   | 110    |       |   |   | (110        | )      |   |          | -       |   |     |   | - |   |   |   | - |   |   |   | - |   |
| Excess      tax benefit related to stock-based compensation      |   |              | -         |   |   |   | -      |       |   |   | 1,330       |   |   |          | -       |   |     |   | - |   |   |   | - |   |   |   | 1,330 |   |
| Restricted      stock compensation expense                       |   |              | -         |   |   |   | -      |       |   |   | 6,037       |   |   |          | -       |   |     |   | - |   |   |   | - |   |   |   | 6,037 |   |
| Treasury      stock purchase                                     |   |              | (22,821   | )      |   |   | -      |       |   |   | -           |   |   |          | -       |   |     |   | - |   |   |   | (2,554 | ) |   |   | (2,554 | ) |
| Balance,      November 30, 2008                                  |   |              | 9,188,692 |   |   |   | 29,805 |       |   |   | 54,447      |   |   |          | 478,968 |   |     |   | (31,475 | ) |   |   | (54,625 | ) |   |   | 477,120 |   |
| Net      Income – 2009                                     |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | 33,300  |   |     |   | - |   |   |   | - |   |   |   | 33,300 |   |
| Foreign      currency translation adjustment                     |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | -       |   |     |   | 18,557 |   |   |   | - |   |   |   | 18,557 |   |
| Defined      benefit pension plans, net of tax                   |   |              |      |   |   |   |   |       |   |   |        |   |   |          |    |   |     |   |   |   |   |   |   |   |   |   |   |   |
| Net      prior service cost                                      |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | (993    | )      |     |   | 113 |   |   |   | - |   |   |   | (880 | ) |
| Net      actuarial loss                                          |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | -       |   |     |   | (26,785 | ) |   |   | - |   |   |   | (26,785 | ) |
| Forfeiture      of restricted stock                              |   |              | (5,655    | )      |   |   |   |       |   |   | 432         |   |   |          |    |   |     |   |   |   |   |   | (432 | ) |   |   | - |   |
| Comprehensive      loss from joint venture                       |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | -       |   |     |   | (2,446 | ) |   |   | - |   |   |   | (2,446 | ) |
| Cash      dividends on Common Stock                              |   |              | -         |   |   |   | -      |       |   |   | -           |   |   |          | (11,051 | )      |     |   | - |   |   |   | - |   |   |   | (11,051 | ) |
| Stock      compensation expense                                  |   |              | -         |   |   |   | -      |       |   |   | 38          |   |   |          | -       |   |     |   | - |   |   |   | - |   |   |   | 38 |   |
| Issuance      of restricted stock                                |   |              | 46,200    |   |   |   | 115    |       |   |   | (115        | )      |   |          | -       |   |     |   | - |   |   |   | - |   |   |   | - |   |
| Excess      tax benefit related to stock-based compensation      |   |              | -         |   |   |   | -      |       |   |   | 831         |   |   |          | -       |   |     |   | - |   |   |   | - |   |   |   | 831 |   |
| Restricted      stock compensation expense                       |   |              | -         |   |   |   | -      |       |   |   | 3,898       |   |   |          | -       |   |     |   | - |   |   |   | - |   |   |   | 3,898 |   |
| Treasury      stock purchase                                     |   |              | (19,401   | )      |   |   | -      |       |   |   | -           |   |   |          | -       |   |     |   | - |   |   |   | (992 | ) |   |   | (992 | ) |
| Balance,      November 30, 2009                                  |   |              | 9,209,836 |   |   | $      | 29,920 |       |   | $      | 59,531      |   |   | $             | 500,224 |   |     | $      | (42,036 | ) |   | $ | (56,049 | ) |   | $ | 491,590 |   |

|                                                   |   | Year      ended November 30, |    |
|--------------------------------------------------------|--------|------------------------------|---------|
| (In      thousands)                                    |   | 2009                         |    |   | 2008 |   |   | 2007 |   |
|                                                   |   |                         |    |   |   |   |   |   |   |
| Net      income                                        |   | $                            | 33,300  |   |   | $ | 58,592 |   |   | $ | 67,239 |   |
| Foreign      currency translation adjustment           |   |                         | 18,557  |   |   |   | (11,860 | ) |   |   | 8,210 |   |
| Defined      benefit pension plans, net of tax         |   |                         |    |   |   |   |   |   |   |   | 15,237 |   |
| Net      prior service cost                            |   |                         | 113     |   |   |   | (200 | ) |   |   | - |   |
| Net      actuarial loss                                |   |                         | (26,785 | ) |   |   | (8,666 | ) |   |   | - |   |
| Comprehensive      loss from joint venture, net of tax |   |                         | (2,446  | ) |   |   | (879 | ) |   |   | (50 | ) |
| Comprehensive      income                              |   | $                            | 22,739  |   |   | $ | 36,987 |   |   | $ | 90,636 |   |

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|                                                                                        |   | Year      ended November 30, |    |
|---------------------------------------------------------------------------------------------|--------|------------------------------|---------|
| (In      thousands)                                                                         |   | 2009                         |    |   | 2008 |   |   | 2007 |   |
| OPERATING      ACTIVITIES                                                                   |   |                         |    |   |   |   |   |   |   |
| Net      income                                                                             |   | $                            | 33,300  |   |   | $ | 58,592 |   |   | $ | 67,239 |   |
| Adjustments      to reconcile net income to net cash provided by operating      activities: |   |                         |    |   |   |   |   |   |   |   |   |   |
| Depreciation                                                                                |   |                         | 22,072  |   |   |   | 20,320 |   |   |   | 16,993 |   |
| Amortization                                                                                |   |                         | 36      |   |   |   | 89 |   |   |   | 41 |   |
| (Benefit)/provision      for deferred income taxes                                          |   |                         | 13,334  |   |   |   | (3,509 | ) |   |   | 7,016 |   |
| Loss/(earnings      in excess of distributions) from joint ventures                         |   |                         | 5,978   |   |   |   | (630 | ) |   |   | (227 | ) |
| (Gain)/loss      from sale of property, plant and equipment                                 |   |                         | (451    | ) |   |   | 68 |   |   |   | 17 |   |
| (Gain)/loss      from sale of discontinued operations                                       |   |                         | -       |   |   |   | - |   |   |   | (5,943 | ) |
| Stock      compensation expense                                                             |   |                         | 3,936   |   |   |   | 6,113 |   |   |   | 3,850 |   |
| Non-cash      write-down of assets                                                          |   |                         | -       |   |   |   | - |   |   |   | 643 |   |
| Changes      in operating assets and liabilities:                                           |   |                         |    |   |   |   |   |   |   |   |   |   |
| Receivables,      net                                                                       |   |                         | 34,343  |   |   |   | 1,381 |   |   |   | (21,747 | ) |
| Inventories                                                                                 |   |                         | 35,910  |   |   |   | 3,846 |   |   |   | (19,200 | ) |
| Prepaid      expenses and other current assets                                              |   |                         | (1,118  | ) |   |   | 1,802 |   |   |   | 3,847 |   |
| Other      assets                                                                           |   |                         | (7,304  | ) |   |   | (5,473 | ) |   |   | (440 | ) |
| Trade      payables                                                                         |   |                         | (10,675 | ) |   |   | 8,688 |   |   |   | (1,626 | ) |
| Accrued      liabilities and income taxes payable                                           |   |                         | (5,317  | ) |   |   | (6,129 | ) |   |   | 14,024 |   |
| Other      long-term liabilities and deferred income taxes                                  |   |                         | 1,813   |   |   |   | 3,272 |   |   |   | (1,284 | ) |
| Net      cash provided by operating activities                                              |   |                         | 125,857 |   |   |   | 88,430 |   |   |   | 63,203 |   |
| INVESTING      ACTIVITIES                                                                   |   |                         |    |   |   |   |   |   |   |   |   |   |
| Proceeds      from sale of property, plant and equipment                                    |   |                         | 1,951   |   |   |   | 1,575 |   |   |   | 288 |   |
| Proceeds      from sale of discontinued operations                                          |   |                         | -       |   |   |   | - |   |   |   | 16,319 |   |
| Acquisitions                                                                                |   |                         | -       |   |   |   | - |   |   |   | (5,977 | ) |
| Additions      to property, plant and equipment                                             |   |                         | (46,874 | ) |   |   | (60,697 | ) |   |   | (47,697 | ) |
| Investment      in joint venture                                                            |   |                         | (10,000 | ) |   |   | - |   |   |   | - |   |
| Loan      to joint venture                                                                  |   |                         | (15,000 | ) |   |   | - |   |   |   | - |   |
| Net      cash used in investing activities                                                  |   |                         | (69,923 | ) |   |   | (59,122 | ) |   |   | (37,067 | ) |
| FINANCING      ACTIVITIES                                                                   |   |                         |    |   |   |   |   |   |   |   |   |   |
| Issuance      of debt                                                                       |   |                         | 463     |   |   |   | - |   |   |   | 2,483 |   |
| Repayment      of debt                                                                      |   |                         | (16,985 | ) |   |   | (21,126 | ) |   |   | (12,708 | ) |
| Debt      issuance costs                                                                    |   |                         | (1,049  | ) |   |   | - |   |   |   | - |   |
| Dividends      on Common Stock                                                              |   |                         | (11,051 | ) |   |   | (10,549 | ) |   |   | (8,208 | ) |
| Issuance      of Common Stock                                                               |   |                         | -       |   |   |   | 420 |   |   |   | 1,562 |   |
| Excess      tax benefits related to stock-based compensation                                |   |                         | 831     |   |   |   | 1,330 |   |   |   | 1,955 |   |
| Purchase      of treasury stock                                                             |   |                         | (992    | ) |   |   | (2,554 | ) |   |   | (1,612 | ) |
| Net      cash used in financing activities                                                  |   |                         | (28,783 | ) |   |   | (32,479 | ) |   |   | (16,528 | ) |
|                                                                                        |   |                         |    |   |   |   |   |   |   |   |   |   |
| Effect      of exchange rate changes on cash and cash equivalents                           |   |                         | 10,402  |   |   |   | (8,701 | ) |   |   | 6,346 |   |
| Net      change in cash and cash equivalents                                                |   |                         | 37,553  |   |   |   | (11,872 | ) |   |   | 15,954 |   |
| Cash      and cash equivalents at beginning of year                                         |   |                         | 143,561 |   |   |   | 155,433 |   |   |   | 139,479 |   |
|                                                                                        |   |                         |    |   |   |   |   |   |   |   |   |   |
| Cash      and cash equivalents at end of year                                               |   | $                            | 181,114 |   |   | $ | 143,561 |   |   | $ | 155,433 |   |

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| (Dollars      In thousands, except per share data)         |   | 2009   |      |   | 2008   |   |      | 2007   |   |
|------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|-----------|--------|--------|
| Numerator:                                                 |   |   |      |   |   |   |      |   |   |
| Income      from continuing operations                     |   | $      | 32,483    |   |   | $      | 58,592    |   |   | $ | 61,140 |   |
| Income      from discontinued operations, net of taxes     |   |   | 817       |   |   |   | -         |   |   |   | 6,099 |   |
| Net      income                                            |   | $      | 33,300    |   |   | $      | 58,592    |   |   | $ | 67,239 |   |
|                                                       |   |   |      |   |   |   |      |   |   |   |   |   |
| Denominator      for basic income per share:               |   |   |      |   |   |   |      |   |   |   |   |   |
| Weighted-average      shares outstanding, basic            |   |   | 9,166,558 |   |   |   | 9,124,557 |   |   |   | 9,029,487 |   |
|                                                       |   |   |      |   |   |   |      |   |   |   |   |   |
| Denominator      for diluted income per share:             |   |   |      |   |   |   |      |   |   |   |   |   |
| Weighted-average      shares outstanding, basic            |   |   | 9,166,558 |   |   |   | 9,124,557 |   |   |   | 9,029,487 |   |
| Dilutive      effect of stock options and restricted stock |   |   | 18,213    |   |   |   | 44,499    |   |   |   | 61,359 |   |
| Weighted-average      shares outstanding, diluted          |   |   | 9,184,771 |   |   |   | 9,169,056 |   |   |   | 9,090,846 |   |
|                                                       |   |   |      |   |   |   |      |   |   |   |   |   |
| Basic      net income per share:                           |   |   |      |   |   |   |      |   |   |   |   |   |
| Income      from continuing operations                     |   | $      | 3.54      |   |   | $      | 6.42      |   |   | $ | 6.77 |   |
| Income      from discontinued operations, net of taxes     |   |   | .09       |   |   |   | -         |   |   |   | .68 |   |
| Net      income                                            |   | $      | 3.63      |   |   | $      | 6.42      |   |   | $ | 7.45 |   |
|                                                       |   |   |      |   |   |   |      |   |   |   |   |   |
| Diluted      net income per share:                         |   |   |      |   |   |   |      |   |   |   |   |   |
| Income      from continuing operations                     |   | $      | 3.54      |   |   | $      | 6.39      |   |   | $ | 6.73 |   |
| Income      from discontinued operations, net of taxes     |   |   | .09       |   |   |   | -         |   |   |   | .67 |   |
| Net      income                                            |   | $      | 3.63      |   |   | $      | 6.39      |   |   | $ | 7.40 |   |

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|                            | Useful      Lives |
|---------------------------------|-------------------|
|                            | (in      years)   |
| Buildings                       | 10-40             |
| Machinery      and equipment    |              |
| Autos,      trucks and trailers | 3-8               |
| Cranes      and tractors        | 5-15              |
| Manufacturing      equipment    | 3-15              |
| Other                           | 3-20              |

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|                                         |   | 2009            |    |   | 2008    |   |
|----------------------------------------------|--------|-----------------|---------|--------|---------|--------|
|                                         |   |            |    |   | Tax     |   |   |   |   |   |   |   |   | Tax |   |   |   |   |
| (In      thousands)                          |   | Before      Tax |    |   | Benefit |   |   | Net      of Tax |   |   | Before      Tax |   |   | Benefit |   |   | Net      of Tax |   |
| Foreign      currency translation adjustment |   | $               | 14,825  |   |    | $      | - |   |   | $ | 14,825 |   |   | $ | (3,732 | ) |   | $ | - |   |   | $ | (3,732 | ) |
| Comprehensive      loss from TAMCO           |   |            | (4,849  | )      |    |   | 378 |   |   |   | (4,471 | ) |   |   | (2,025 | ) |   |   | - |   |   |   | (2,025 | ) |
| Defined      benefit pension plans           |   |            |    |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      actuarial loss                      |   |            | (88,588 | )      |    |   | 38,116 |   |   |   | (50,472 | ) |   |   | (45,010 | ) |   |   | 21,322 |   |   |   | (23,688 | ) |
| Net      prior service cost                  |   |            | (2,143  | )      |    |   | 225 |   |   |   | (1,918 | ) |   |   | (2,312 | ) |   |   | 282 |   |   |   | (2,030 | ) |
| Accumulated      other comprehensive loss    |   | $               | (80,755 | )      |    | $      | 38,719 |   |   | $ | (42,036 | ) |   | $ | (53,079 | ) |   | $ | 21,604 |   |   | $ | (31,475 | ) |

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| (In      thousands)    |   | 2009   |   |   | 2008   |   |   | 2007   |   |
|------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Interest      paid     |   | $      | 1,926  |   |   | $      | 3,256  |   |   | $ | 3,996 |   |
| Income      taxes paid |   |   | 10,179 |   |   |   | 14,862 |   |   |   | 18,687 |   |

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| (In      thousands)                                                    |   | 2009   |   |   | 2008   |   |   | 2007   |   |
|------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Revenue      from discontinued operations                              |   | $      | -      |   |   | $      | -      |   |   | $ | - |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income      from discontinued operations, before income taxes          |   | $      | 985    |   |   | $      | -      |   |   | $ | - |   |
| Income      taxes on income from discontinued operations               |   |   | (168   | )      |   |   | -      |   |   |   | 156 |   |
| Income      from discontinued operations before disposal, net of taxes |   |   | 817    |   |   |   | -      |   |   |   | 156 |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gain      from sale of discontinued operations, before income taxes    |   |   | -      |   |   |   | -      |   |   |   | 5,358 |   |
| Income      taxes on gain from sale of discontinued operations         |   |   | -      |   |   |   | -      |   |   |   | 585 |   |
| Gain      on sale of discontinued operations, net of taxes             |   |   | -      |   |   |   | -      |   |   |   | 5,943 |   |
| Income      from discontinued operations, net of taxes                 |   | $      | 817    |   |   | $      | -      |   |   | $ | 6,099 |   |

| (In      thousands)                                       |   | 2009   |   |   | 2008   |   |   | 2007   |   |
|-----------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Dividends      from joint ventures-cost method            |   | $      | 4,764  |   |   | $      | 4,010  |   |   | $ | 2,451 |   |
| Royalties,      fees and other income                     |   |   | 884    |   |   |   | 1,361  |   |   |   | 751 |   |
| Gain/(loss)      on sale of property, plant and equipment |   |   | 451    |   |   |   | (68    | )      |   |   | (17 | ) |
| Foreign      currency loss                                |   |   | (1,109 | )      |   |   | (1,339 | )      |   |   | (116 | ) |
| Other                                                     |   |   | 2,458  |   |   |   | 4,258  |   |   |   | 2,961 |   |
|                                                      |   | $      | 7,448  |   |   | $      | 8,222  |   |   | $ | 6,030 |   |

| (In      thousands) |   | 2009   |    |   | 2008   |   |
|---------------------|--------|--------|---------|--------|--------|--------|
| Trade               |   | $      | 121,822 |   |   | $      | 155,061 |   |
| Joint      ventures |   |   | 960     |   |   |   | 1,380 |   |
| Other               |   |   | 33,779  |   |   |   | 32,529 |   |
| Allowances          |   |   | (5,351  | )      |   |   | (7,009 | ) |
|                |   | $      | 151,210 |   |   | $      | 181,961 |   |

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| (In      thousands)         |   | 2009   |   |   | 2008   |   |
|-----------------------------|--------|--------|--------|--------|--------|--------|
| Finished      products      |   | $      | 30,100 |   |   | $      | 44,033 |   |
| Materials      and supplies |   |   | 22,952 |   |   |   | 33,485 |   |
| Products      in process    |   |   | 9,648  |   |   |   | 18,127 |   |
|                        |   | $      | 62,700 |   |   | $      | 95,645 |   |

| (In      thousands)                    |   | 2009   |   |   | 2008   |   |
|----------------------------------------|--------|--------|--------|--------|--------|--------|
| Investment--equity      method venture |   | $      | 30,626 |   |   | $      | 14,428 |   |
| Investments--cost      method ventures |   |   | 3,784  |   |   |   | 3,784 |   |
|                                   |   | $      | 34,410 |   |   | $      | 18,212 |   |

|                 |   |                           |   | Ownership |
|----------------------|--------|--------------------------------|--------|-----------|
| Products             |   | Joint      Ventures            |   | Interest  |
| Fiberglass      pipe |   | Bondstrand,      Ltd.          |   | 40%       |
| Concrete      pipe   |   | Ameron      Saudi Arabia, Ltd. |   | 30%       |
| Steel      products  |   | TAMCO                          |   | 50%       |

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|                                                   |   | Fiberglass |   |   | Concrete |   |   | Steel    |   |   |   |   |
|--------------------------------------------------------|--------|------------|--------|--------|----------|--------|--------|----------|--------|--------|--------|--------|
| (In      thousands)                                    |   | Pipe       |   |   | Pipe     |   |   | Products |   |   | Total  |   |
| Cost      and outstanding loans                        |   | $          | 3,784  |   |     | $      | -      |     |   | $      | 33,482 |   |   | $ | 37,266 |   |
| Accumulated      comprehensive loss from joint venture |   |       | -      |   |     |   | -      |     |   |   | (4,849 | )      |   |   | (4,849 | ) |
| Accumulated      equity in undistributed earnings      |   |       | -      |   |     |   | -      |     |   |   | 1,993  |   |   |   | 1,993 |   |
|                                                   |   |       |   |   |     |   |   |     |   |   |   |   |   |   |   |   |
| Investment,      November 30, 2009                     |   | $          | 3,784  |   |     | $      | -      |     |   | $      | 30,626 |   |   | $ | 34,410 |   |
|                                                   |   |       |   |   |     |   |   |     |   |   |   |   |   |   |   |   |
| 2009      Dividends                                    |   | $          | 4,764  |   |     | $      | -      |     |   | $      | -      |   |   | $ | 4,764 |   |
|                                                   |   |       |   |   |     |   |   |     |   |   |   |   |   |   |   |   |
| Cost                                                   |   | $          | 3,784  |   |     | $      | -      |     |   | $      | 8,482  |   |   | $ | 12,266 |   |
| Accumulated      comprehensive loss from joint venture |   |       | -      |   |     |   | -      |     |   |   | (2,025 | )      |   |   | (2,025 | ) |
| Accumulated      equity in undistributed earnings      |   |       | -      |   |     |   | -      |     |   |   | 7,971  |   |   |   | 7,971 |   |
|                                                   |   |       |   |   |     |   |   |     |   |   |   |   |   |   |   |   |
| Investment,      November 30, 2008                     |   | $          | 3,784  |   |     | $      | -      |     |   | $      | 14,428 |   |   | $ | 18,212 |   |
|                                                   |   |       |   |   |     |   |   |     |   |   |   |   |   |   |   |   |
| 2008      Dividends                                    |   | $          | 2,514  |   |     | $      | 1,496  |     |   | $      | 10,808 |   |   | $ | 14,818 |   |

| (In      thousands)         |   | 2009   |   |   | 2008   |   |
|-----------------------------|--------|--------|--------|--------|--------|--------|
| Current      assets         |   | $      | 47,858 |   |   | $      | 64,168 |   |
| Noncurrent      assets      |   |   | 51,010 |   |   |   | 47,978 |   |
|                        |   | $      | 98,868 |   |   | $      | 112,146 |   |
|                        |   |   |   |   |   |   |   |   |
| Current      liabilities    |   | $      | 6,993  |   |   | $      | 58,691 |   |
| Noncurrent      liabilities |   |   | 45,155 |   |   |   | 8,855 |   |
| Stockholders'      equity   |   |   | 46,720 |   |   |   | 44,600 |   |
|                        |   | $      | 98,868 |   |   | $      | 112,146 |   |

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| (In      thousands)      |   | 2009   |    |   | 2008   |   |    | 2007   |   |
|--------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
| Net      sales           |   | $      | 85,740  |   |   | $      | 365,957 |   |   | $ | 268,208 |   |
| Gross      (loss)/profit |   |   | (12,740 | )      |   |   | 49,927  |   |   |   | 66,494 |   |
| Net      (loss)/income   |   |   | (11,955 | )      |   |   | 22,877  |   |   |   | 34,037 |   |

| (In      thousands)                             |   | 2009   |   |   | 2008   |   |
|-------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Cash      surrender value of insurance policies |   | $      | 26,121 |   |   | $      | 25,584 |   |
| Assets      held for sale                       |   |   | 2,051  |   |   |   | 2,302 |   |
| Other                                           |   |   | 18,646 |   |   |   | 10,389 |   |
|                                            |   | $      | 46,818 |   |   | $      | 38,275 |   |

| (In      thousands)                             |   | 2009   |   |   | 2008   |   |
|-------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Self      insurance reserves                    |   | $      | 37,393 |   |   | $      | 38,159 |   |
| Compensation      and benefits                  |   |   | 20,333 |   |   |   | 21,121 |   |
| Product      warranties and guarantees          |   |   | 3,396  |   |   |   | 3,238 |   |
| Taxes      (other than income taxes)            |   |   | 3,170  |   |   |   | 3,090 |   |
| Reserves      for pending claims and litigation |   |   | 2,339  |   |   |   | 3,328 |   |
| Commissions      and royalties                  |   |   | 2,283  |   |   |   | 3,498 |   |
| Deferred      revenue                           |   |   | 1,960  |   |   |   | 1,461 |   |
| Interest                                        |   |   | 33     |   |   |   | 44 |   |
| Other                                           |   |   | 6,608  |   |   |   | 5,599 |   |
|                                            |   | $      | 77,515 |   |   | $      | 79,538 |   |

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| (In      thousands)                      |   | 2009   |   |   | 2008   |   |
|------------------------------------------|--------|--------|--------|--------|--------|--------|
| Balance,      beginning of period        |   | $      | 3,238  |   |   | $      | 3,590 |   |
| Payments                                 |   |   | (3,643 | )      |   |   | (1,925 | ) |
| Warranty      adjustment                 |   |   | 31     |   |   |   | (162 | ) |
| Warranties      issued during the period |   |   | 3,770  |   |   |   | 1,735 |   |
| Balance,      end of period              |   | $      | 3,396  |   |   | $      | 3,238 |   |

| (In      thousands)                                   |   | 2009   |   |   | 2008   |   |
|-------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Accrued      pension and postretirement benefits cost |   | $      | 86,568 |   |   | $      | 39,261 |   |
| Taxes      payable                                    |   |   | 9,974  |   |   |   | 7,393 |   |
| Compensation      and benefits                        |   |   | 1,904  |   |   |   | 3,206 |   |
| Other                                                 |   |   | 933    |   |   |   | 190 |   |
|                                                  |   | $      | 99,379 |   |   | $      | 50,050 |   |

| (In      thousands)                               |   | 2009   |   |   | 2008   |   |   | 2007   |   |
|---------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Current                                           |   |   |   |   |   |   |   |   |   |
| Federal                                           |   | $      | (6,480 | )      |   | $      | 6,605  |   |   | $ | (2,678 | ) |
| Foreign                                           |   |   | 8,437  |   |   |   | 12,329 |   |   |   | 7,413 |   |
| State                                             |   |   | 226    |   |   |   | 1,530  |   |   |   | (1,392 | ) |
|                                              |   |   | 2,183  |   |   |   | 20,464 |   |   |   | 3,343 |   |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |
| Deferred                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Federal                                           |   |   | 12,598 |   |   |   | (1,590 | )      |   |   | 10,646 |   |
| Foreign                                           |   |   | (831   | )      |   |   | (1,617 | )      |   |   | (5,078 | ) |
| State                                             |   |   | 1,567  |   |   |   | (302   | )      |   |   | 1,448 |   |
|                                              |   |   | 13,334 |   |   |   | (3,509 | )      |   |   | 7,016 |   |
| Taxes      on income from continuing operations   |   |   | 15,517 |   |   |   | 16,955 |   |   |   | 10,359 |   |
| Taxes      on income from discontinued operations |   |   | 168    |   |   |   | -      |   |   |   | (741 | ) |
| Provision      for income taxes                   |   | $      | 15,685 |   |   | $      | 16,955 |   |   | $ | 9,618 |   |

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| (In      thousands)                            |   | 2009   |    |   | 2008   |   |
|------------------------------------------------|--------|--------|---------|--------|--------|--------|
| Current      deferred income taxes             |   |   |    |   |   |   |
| Self-insurance      and claims reserves        |   | $      | 11,157  |   |   | $      | 12,216 |   |
| Employee      benefits                         |   |   | 3,889   |   |   |   | 4,414 |   |
| Inventories                                    |   |   | 2,335   |   |   |   | 5,967 |   |
| Accounts      receivable                       |   |   | 801     |   |   |   | 848 |   |
| Valuation      allowances                      |   |   | (2,536  | )      |   |   | (2,518 | ) |
| Other                                          |   |   | 4,149   |   |   |   | 4,655 |   |
|                                           |   |   |    |   |   |   |   |   |
| Net      current deferred income tax assets    |   |   | 19,795  |   |   |   | 25,582 |   |
|                                           |   |   |    |   |   |   |   |   |
| Noncurrent      deferred income taxes          |   |   |    |   |   |   |   |   |
| Net      operating loss carry-overs            |   |   | 8,031   |   |   |   | 9,556 |   |
| Pension      benefit costs                     |   |   | 26,782  |   |   |   | 13,924 |   |
| Investments                                    |   |   | 3,752   |   |   |   | (536 | ) |
| Employee      benefits                         |   |   | 1,788   |   |   |   | 1,549 |   |
| Valuation      allowances                      |   |   | (4,523  | )      |   |   | (7,730 | ) |
| Property,      plant and equipment             |   |   | (25,368 | )      |   |   | (16,296 | ) |
| Other                                          |   |   | 2,149   |   |   |   | 490 |   |
|                                           |   |   |    |   |   |   |   |   |
| Net      noncurrent deferred income tax assets |   |   | 12,611  |   |   |   | 957 |   |
|                                           |   |   |    |   |   |   |   |   |
| Net      deferred income tax assets            |   | $      | 32,406  |   |   | $      | 26,539 |   |

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| (In      thousands)                                                            |   | 2009   |   |   | 2008   |   |   | 2007   |   |
|--------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Domestic      pretax income                                                    |   | $      | 661    |   |   | $      | 9,883  |   |   | $ | 6,721 |   |
| Foreign      pretax income                                                     |   |   | 52,851 |   |   |   | 55,327 |   |   |   | 49,395 |   |
| Pretax      Income from continuing operations                                  |   |   | 53,512 |   |   |   | 65,210 |   |   |   | 56,116 |   |
| Pretax      Income from discontinued operations                                |   |   | 985    |   |   |   | -      |   |   |   | 5,358 |   |
|                                                                           |   | $      | 54,497 |   |   | $      | 65,210 |   |   | $ | 61,474 |   |
|                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Taxes      at federal statutory rate                                           |   | $      | 18,728 |   |   | $      | 22,823 |   |   | $ | 19,641 |   |
| State      taxes, net of federal tax benefit                                   |   |   | 1,165  |   |   |   | 798    |   |   |   | (293 | ) |
| Foreign      earnings taxed at different rates, including withholding    taxes |   |   | (6,341 | )      |   |   | (4,010 | )      |   |   | (4,782 | ) |
| Percentage      depletion                                                      |   |   | (722   | )      |   |   | (587   | )      |   |   | (618 | ) |
| Non-deductible      compensation                                               |   |   | 2,005  |   |   |   | 2,462  |   |   |   | 2,612 |   |
| Research      and development credits                                          |   |   | (453   | )      |   |   | (398   | )      |   |   | (449 | ) |
| Section      199 deduction                                                     |   |   | -      |   |   |   | (521   | )      |   |   | (262 | ) |
| Settlement      of tax examinations                                            |   |   | (187   | )      |   |   | (2,920 | )      |   |   | (1,285 | ) |
| Investment      write-off                                                      |   |   | -      |   |   |   | -      |   |   |   | (4,723 | ) |
| Other,      net                                                                |   |   | 1,322  |   |   |   | (692   | )      |   |   | 518 |   |
| Taxes      on income from continuing operations                                |   |   | 15,517 |   |   |   | 16,955 |   |   |   | 10,359 |   |
| Taxes      on income from discontinued operations                              |   |   | 168    |   |   |   | -      |   |   |   | (741 | ) |
| Taxes      on income                                                           |   | $      | 15,685 |   |   | $      | 16,955 |   |   | $ | 9,618 |   |

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| (In      thousands)                                                |   | 2009   |   |   | 2008   |   |
|--------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Unrecognized      tax benefits at the beginning of the year        |   | $      | 7,416  |   |   | $      | 13,102 |   |
| Increases      for positions taken in current year                 |   |   | 1,983  |   |   |   | 1,157 |   |
| Increases      for positions taken in prior years                  |   |   | 1,137  |   |   |   | 658 |   |
| Decreases      for positions taken in prior years                  |   |   | (244   | )      |   |   | (6,557 | ) |
| Decreases      for settlements with taxing authorities             |   |   | (502   | )      |   |   | (145 | ) |
| Decreases      for lapses in the applicable statute of limitations |   |   | (560   | )      |   |   | (799 | ) |
| Unrecognized      tax benefits at the end of the year              |   | $      | 9,230  |   |   | $      | 7,416 |   |

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| (In      thousands)                                                                       |   | 2009   |   |   | 2008   |   |
|-------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Fixed-rate      notes:                                                                    |   |   |   |   |   |   |
| 5.36%,      payable in annual principal installments of $10,000                           |   | $      | -      |   |   | $      | 10,000 |   |
| 4.25%,      payable in Singapore Dollars, in annual principal installments of      $7,366 |   |   | 22,098 |   |   |   | 27,052 |   |
| Variable-rate      industrial development bonds:                                          |   |   |   |   |   |   |   |   |
| payable      in 2016 (.55% at November 30, 2009)                                          |   |   | 7,200  |   |   |   | 7,200 |   |
| payable      in 2021 (.55% at November 30, 2009)                                          |   |   | 8,500  |   |   |   | 8,500 |   |
| Variable-rate      bank revolving credit facility (7.1% at November 30, 2009)             |   |   | 501    |   |   |   | - |   |
|                                                                                      |   |   | 38,299 |   |   |   | 52,752 |   |
| Less      current portion                                                                 |   |   | (7,366 | )      |   |   | (16,763 | ) |
|                                                                                      |   | $      | 30,933 |   |   | $      | 35,989 |   |

| Year      ending November 30, |   | Amount |   |
|-------------------------------|--------|--------|--------|
| 2010                          |   | $      | 7,366  |   |
| 2011                          |   |   | 7,366  |   |
| 2012                          |   |   | 7,867  |   |
| 2013                          |   |   | -      |   |
| 2014                          |   |   | -      |   |
| Thereafter                    |   |   | 15,700 |   |
|                          |   | $      | 38,299 |   |

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| (In      thousands)       |   | 2009   |   |   | 2008   |   |   | 2007   |   |
|---------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Interest      income      |   | $      | 1,130  |   |   | $      | 3,871  |   |   | $ | 5,161 |   |
| Interest      expense     |   |   | (542   | )      |   |   | (2,338 | )      |   |   | (3,234 | ) |
| Interest      income, net |   | $      | 588    |   |   | $      | 1,533  |   |   | $ | 1,927 |   |

|                               |   | Carrying |   |   | Fair   |   |
|------------------------------------|--------|----------|--------|--------|--------|--------|
| (In      thousands)                |   | Amount   |   |   | Value  |   |
| November      30, 2009             |   |     |   |   |   |   |
| Fixed-rate,      long-term debt    |   | $        | 22,098 |   |   | $      | 22,741 |   |
| Variable-rate,      long-term debt |   |     | 16,201 |   |   |   | 16,201 |   |
|                               |   |     |   |   |   |   |   |   |
| November      30, 2008             |   |     |   |   |   |   |   |   |
| Fixed-rate,      long-term debt    |   |     | 37,052 |   |   |   | 35,545 |   |
| Variable-rate,      long-term debt |   |     | 15,700 |   |   |   | 15,700 |   |

| Year      ending November 30, |   | Amount |   |
|-------------------------------|--------|--------|--------|
| 2010                          |   | $      | 4,224  |   |
| 2011                          |   |   | 3,526  |   |
| 2012                          |   |   | 2,642  |   |
| 2013                          |   |   | 1,356  |   |
| 2014                          |   |   | 1,261  |   |
| Thereafter                    |   |   | 23,071 |   |
|                          |   | $      | 36,080 |   |

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|                                          |   |           |   |   |                |   |   | Weighted-         |   |   |                 |   |
|-----------------------------------------------|--------|----------------|--------|--------|---------------------|--------|--------|-------------------|--------|--------|----------------------|--------|
|                                          |   |           |   |   | Weighted-           |   |   | Average           |   |   |                 |   |
|                                          |   |           |   |   | Average             |   |   | Remaining         |   |   | Aggregate            |   |
|                                          |   | Number      of |   |   | Exercise      Price |   |   | Contractual       |   |   | Intrinsic      Value |   |
| Options                                       |   | Options        |   |   | per      Share      |   |   | Term      (Years) |   |   | (in      thousands)  |   |
| Outstanding      at November 30, 2008         |   |           | 36,302 |   |                | $      | 37.61  |              |   |   |                 |   |   |   |
| Granted                                       |   |           | -      |   |                |   |   |              |   |   |                 |   |   |   |
| Exercised                                     |   |           | -      |   |                |   |   |              |   |   |                 |   |   |   |
| Outstanding      at November 30, 2009         |   |           | 36,302 |   |                |   | 37.61  |              |   |   | 3.61                 |   |   | $ | 871 |   |
|                                          |   |           |   |   |                |   |   |              |   |   |                 |   |   |   |   |   |
| Options      exercisable at November 30, 2009 |   |           | 33,451 |   |                |   | 32.18  |              |   |   | 3.22                 |   |   | $ | 871 |   |

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|                           |   |              |   |   | Foreign     |   |   |              |   |   | Foreign     |   |   |              |   |
|--------------------------------|--------|-------------------|--------|--------|-------------|--------|--------|-------------------|--------|--------|-------------|--------|--------|-------------------|--------|
|                           |   |              |   |   | Currency    |   |   |              |   |   | Currency    |   |   |              |   |
|                           |   | November      30, |   |   | Translation |   |   | November      30, |   |   | Translation |   |   | November      30, |   |
| (In      thousands)            |   | 2007              |   |   | Adjustments |   |   | 2008              |   |   | Adjustments |   |   | 2009              |   |
| Fiberglass-Composite      Pipe |   | $                 | 1,440  |   |        | $      | -      |              |   | $      | 1,440       |   |   | $                 | -      |   |   | $ | 1,440 |   |
| Water      Transmission        |   |              | 392    |   |        |   | (32    | )                 |   |   | 360         |   |   |              | 6      |   |   |   | 366 |   |
| Infrastructure      Products   |   |              | 201    |   |        |   | -      |              |   |   | 201         |   |   |              | -      |   |   |   | 201 |   |
|                           |   | $                 | 2,033  |   |        |   | (32    | )                 |   | $      | 2,001       |   |   | $                 | 6      |   |   | $ | 2,007 |   |

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Table of Contents

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|                                                |   | U.S.      Pension Benefits |    |   | Non-U.S.      Pension Benefits |   |
|-----------------------------------------------------|--------|----------------------------|---------|--------|--------------------------------|--------|
| (In      thousands)                                 |   | 2009                       |    |   | 2008                           |   |   | 2009 |   |   | 2008 |   |
| Change      in Benefit Obligation                   |   |                       |    |   |                           |   |   |   |   |   |   |   |
| Projected      benefit obligation-beginning of year |   | $                          | 175,373 |   |                           | $      | 192,410 |   |   | $ | 34,111 |   |   | $ | 45,908 |   |
| Service      cost                                   |   |                       | 3,439   |   |                           |   | 2,974 |   |   |   | 342 |   |   |   | 439 |   |
| Interest      cost                                  |   |                       | 14,706  |   |                           |   | 11,553 |   |   |   | 2,335 |   |   |   | 2,541 |   |
| Participant      contributions                      |   |                       | -       |   |                           |   | - |   |   |   | 188 |   |   |   | 185 |   |
| Amendments                                          |   |                       | -       |   |                           |   | 46 |   |   |   | - |   |   |   | - |   |
| Actuarial      loss/(gain)                          |   |                       | 31,393  |   |                           |   | (19,861 | ) |   |   | 6,590 |   |   |   | (7,429 | ) |
| Foreign      currency exchange rate changes         |   |                       | -       |   |                           |   | - |   |   |   | 6,430 |   |   |   | (6,039 | ) |
| Benefit      payments                               |   |                       | (14,049 | )      |                           |   | (11,749 | ) |   |   | (1,165 | ) |   |   | (1,494 | ) |
| Projected      benefit obligation-end of year       |   | $                          | 210,862 |   |                           | $      | 175,373 |   |   | $ | 48,831 |   |   | $ | 34,111 |   |
|                                                |   |                       |    |   |                           |   |   |   |   |   |   |   |   |   |   |   |
| Accumulated      Benefit Obligation                 |   | $                          | 202,227 |   |                           | $      | 167,318 |   |   | $ | 46,545 |   |   | $ | 33,663 |   |
|                                                |   |                       |    |   |                           |   |   |   |   |   |   |   |   |   |   |   |
| Change      in Plan Assets                          |   |                       |    |   |                           |   |   |   |   |   |   |   |   |   |   |   |
| Plan      assets at fair value-beginning of year    |   | $                          | 140,447 |   |                           | $      | 183,940 |   |   | $ | 32,554 |   |   | $ | 34,310 |   |
| Actual      return on plan assets                   |   |                       | (766    | )      |                           |   | (34,775 | ) |   |   | 3,181 |   |   |   | 4,423 |   |
| Foreign      currency exchange rate changes         |   |                       | -       |   |                           |   | - |   |   |   | 5,860 |   |   |   | (5,810 | ) |
| Employer      contributions                         |   |                       | 8,536   |   |                           |   | 3,031 |   |   |   | 1,738 |   |   |   | 940 |   |
| Participant      contributions                      |   |                       | -       |   |                           |   | - |   |   |   | 188 |   |   |   | 185 |   |
| Benefit      payments                               |   |                       | (14,049 | )      |                           |   | (11,749 | ) |   |   | (1,165 | ) |   |   | (1,494 | ) |
| Plan      assets at fair value-end of year          |   | $                          | 134,168 |   |                           | $      | 140,447 |   |   | $ | 42,356 |   |   | $ | 32,554 |   |
|                                                |   |                       |    |   |                           |   |   |   |   |   |   |   |   |   |   |   |
| Funded      Status                                  |   | $                          | (76,694 | )      |                           | $      | (34,926 | ) |   | $ | (6,475 | ) |   | $ | (1,557 | ) |
|                                                |   |                       |    |   |                           |   |   |   |   |   |   |   |   |   |   |   |
| Balance      Sheet Amounts                          |   |                       |    |   |                           |   |   |   |   |   |   |   |   |   |   |   |
| Noncurrent      assets                              |   | $                          | -       |   |                           | $      | - |   |   | $ | - |   |   | $ | - |   |
| Current      liabilities                            |   |                       | (30     | )      |                           |   | (30 | ) |   |   | - |   |   |   | - |   |
| Noncurrent      liabilities                         |   |                       | (76,664 | )      |                           |   | (34,896 | ) |   |   | (6,475 | ) |   |   | (1,557 | ) |
| Net      amount recognized                          |   | $                          | (76,694 | )      |                           | $      | (34,926 | ) |   | $ | (6,475 | ) |   | $ | (1,557 | ) |

Table of Contents

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|                           |   |                  |   |   |                     |   |
|--------------------------------|--------|-----------------------|--------|--------|--------------------------|--------|
|                           |   | Pension      Benefits |   |   | U.S.      Postretirement |   |
| (In      thousands)            |   | U.S.                  |   |   | Non-U.S.                 |   |   | Benefits |   |
| Net      actuarial loss/(gain) |   | $                     | 93,825 |   |                     | $      | (5,446 | ) |   | $ | 209 |   |
| Prior      service cost        |   |                  | 207    |   |                     |   | 1,564 |   |   |   | 372 |   |
| Net      amount recognized     |   | $                     | 94,032 |   |                     | $      | (3,882 | ) |   | $ | 581 |   |

|                           |   |                  |   |   |                     |   |
|--------------------------------|--------|-----------------------|--------|--------|--------------------------|--------|
|                           |   | Pension      Benefits |   |   | U.S.      Postretirement |   |
| (In      thousands)            |   | U.S.                  |   |   | Non-U.S.                 |   |   | Benefits |   |
| Net      actuarial loss/(gain) |   | $                     | 54,908 |   |                     | $      | (9,662 | ) |   | $ | (236 | ) |
| Prior      service cost        |   |                  | 288    |   |                     |   | 1,587 |   |   |   | 437 |   |
| Net      amount recognized     |   | $                     | 55,196 |   |                     | $      | (8,075 | ) |   | $ | 201 |   |

|                             |   |                  |   |   |                     |   |
|----------------------------------|--------|-----------------------|--------|--------|--------------------------|--------|
|                             |   | Pension      Benefits |   |   | U.S.      Postretirement |   |
| (In      thousands)              |   | U.S.                  |   |   | Non-U.S.                 |   |   | Benefits |   |
| Net      actuarial loss          |   | $                     | 10,807 |   |                     | $      | (301 | ) |   | $ | - |   |
| Prior      service cost/(credit) |   |                  | 52     |   |                     |   | (310 | ) |   |   | 19 |   |
| Net      transition asset        |   |                  | -      |   |                     |   | - |   |   |   | 46 |   |
| Net      amount recognized       |   | $                     | 10,859 |   |                     | $      | (611 | ) |   | $ | 65 |   |

|                          |   | U.S.      Pension |   |   | Non-U.S.      Pension |   |
|-------------------------------|--------|-------------------|--------|--------|-----------------------|--------|
| Year      ending November 30, |   | Benefits          |   |   | Benefits              |   |
| 2010                          |   | $                 | 12,267 |   |                  | $      | 1,554 |   |
| 2011                          |   |              | 12,829 |   |                  |   | 1,603 |   |
| 2012                          |   |              | 13,215 |   |                  |   | 1,769 |   |
| 2013                          |   |              | 13,571 |   |                  |   | 1,946 |   |
| 2014                          |   |              | 13,785 |   |                  |   | 2,098 |   |
| 2015      - 2019              |   |              | 71,997 |   |                  |   | 12,331 |   |

Table of Contents

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|                                                            |   | U.S.      Pension Benefits |    |    | Non-U.S.      Pension Benefits |   |
|-----------------------------------------------------------------|--------|----------------------------|---------|---------|--------------------------------|--------|
| (In      thousands)                                             |   | 2009                       |    |    | 2008                           |   |   | 2007 |   |   | 2009 |   |   | 2008 |   |   | 2007 |   |
| Service      cost                                               |   | $                          | 3,439   |    |                           | $      | 2,974 |   |   | $ | 2,928 |   |   | $ | 342 |   |   | $ | 439 |   |   | $ | 529 |   |
| Interest      cost                                              |   |                       | 14,706  |    |                           |   | 11,553 |   |   |   | 11,178 |   |   |   | 2,335 |   |   |   | 2,541 |   |   |   | 2,260 |   |
| Expected      return on plan assets                             |   |                       | (13,768 | )       |                           |   | (15,713 | ) |   |   | (14,172 | ) |   |   | (1,571 | ) |   |   | (1,692 | ) |   |   | (1,680 | ) |
| Amortization      of unrecognized prior service cost            |   |                       | 81      |    |                           |   | 117 |   |   |   | 113 |   |   |   | 286 |   |   |   | 306 |   |   |   | 281 |   |
| Amortization      of unrecognized net transition obligation     |   |                       | -       |    |                           |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 151 |   |
| Amortization      of accumulated loss/(gain)                    |   |                       | 7,010   |    |                           |   | 1,134 |   |   |   | 3,904 |   |   |   | (439 | ) |   |   | - |   |   |   | - |   |
| Net      periodic cost adjustment to retained earnings, pre-tax |   |                       | (1,631  | )  |                           |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Net      periodic cost                                          |   | $                          | 9,837   |    |                           | $      | 65 |   |   | $ | 3,951 |   |   | $ | 953 |   |   | $ | 1,594 |   |   | $ | 1,541 |   |

|                                         |   | U.S.      Pension Benefits |   |   | Non-U.S.      Pension Benefits |   |
|----------------------------------------------|--------|----------------------------|--------|--------|--------------------------------|--------|
|                                         |   | 2009                       |   |   | 2008                           |   |   | 2007 |   |   | 2009 |   |   | 2008 |   |   | 2007 |   |
| Weighted-average      discount rate          |   |                       | 5.70   | %      |                           |   | 7.29 | % |   |   | 6.15 | % |   |   | 5.20 | % |   |   | 6.70 | % |   |   | 5.60 | % |
| Rate      of increase in compensation levels |   |                       | 3.50   | %      |                           |   | 4.25 | % |   |   | 3.65 | % |   |   | 2.25 | % |   |   | 2.25 | % |   |   | 2.00 | % |

|                                                  |   | U.S.      Pension Benefits |   |   | Non-U.S.      Pension Benefits |   |
|-------------------------------------------------------|--------|----------------------------|--------|--------|--------------------------------|--------|
|                                                  |   | 2009                       |   |   | 2008                           |   |   | 2007 |   |   | 2009 |   |   | 2008 |   |   | 2007 |   |
| Weighted-average      discount rate                   |   |                       | 7.29   | %      |                           |   | 6.15 | % |   |   | 5.95 | % |   |   | 6.70 | % |   |   | 5.60 | % |   |   | 4.50 | % |
| Expected      long-term rate of return on plan assets |   |                       | 8.50   | %      |                           |   | 8.75 | % |   |   | 8.75 | % |   |   | 4.90 | % |   |   | 4.80 | % |   |   | 5.00 | % |
| Rate      of increase in compensation levels          |   |                       | 4.25   | %      |                           |   | 3.65 | % |   |   | 3.45 | % |   |   | 2.25 | % |   |   | 2.00 | % |   |   | 2.00 | % |

Table of Contents

----

|                   |   | U.S.      Pension |   |   | Non-U.S.      Pension |   |
|------------------------|--------|-------------------|--------|--------|-----------------------|--------|
|                   |   | Benefits          |   |   | Benefits              |   |
| Equity      securities |   |              | 10     | %      |                  |   | 7 | % |
| Debt      securities   |   |              | 5      | %      |                  |   | 5 | % |
| Real      estate       |   |              | -      |   |                  |   | 8 | % |
| Other                  |   |              | -      |   |                  |   | 4 | % |

|                               |   |   |   |   | U.S.      Pension Benefits |   |   | Non-U.S.      Pension Benefits |   |
|------------------------------------|--------|--------|--------|--------|----------------------------|--------|--------|--------------------------------|--------|
|                               |   | Target |   |   | 2009                       |   |   | 2008                           |   |   | 2009 |   |   | 2008 |   |
|  Domestic      equities       |   |   | 65     | %      |                       |   | 61     | %                              |   |   | 64 | % |   |   | 8 | % |   |   | 20 | % |
|  International      equities  |   |   | 10     | %      |                       |   | 11     | %                              |   |   | 9 | % |   |   | 10 | % |   |   | - |   |
|  Fixed-income      securities |   |   | 25     | %      |                       |   | 28     | %                              |   |   | 27 | % |   |   | 82 | % |   |   | 80 | % |
| Total                         |   |   | 100    | %      |                       |   | 100    | %                              |   |   | 100 | % |   |   | 100 | % |   |   | 100 | % |

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|                                                |   | U.S.      Postretirement Benefits |   |
|-----------------------------------------------------|--------|-----------------------------------|--------|
| (In      thousands)                                 |   | 2009                              |   |   | 2008 |   |
| Change      in Benefit Obligation                   |   |                              |   |   |   |   |
| Projected      benefit obligation-beginning of year |   | $                                 | 3,148  |   |   | $ | 3,504 |   |
| Service      cost                                   |   |                              | 81     |   |   |   | 96 |   |
| Interest      cost                                  |   |                              | 222    |   |   |   | 209 |   |
| Actuarial      loss/(gain)                          |   |                              | 445    |   |   |   | (522 | ) |
| Benefit      payments                               |   |                              | (137   | ) |   |   | (139 | ) |
| Projected      benefit obligation-end of year       |   | $                                 | 3,759  |   |   | $ | 3,148 |   |
| Change      in Plan Assets                          |   |                              |   |   |   |   |   |   |
| Plan      assets at fair value-beginning of year    |   | $                                 | 342    |   |   | $ | 365 |   |
| Actual      return on plan assets                   |   |                              | 23     |   |   |   | 10 |   |
| Benefit      payments                               |   |                              | (35    | ) |   |   | (33 | ) |
| Plan      assets at fair value-end of year          |   | $                                 | 330    |   |   | $ | 342 |   |
|                                                |   |                              |   |   |   |   |   |   |
| Funded      Status                                  |   | $                                 | (3,429 | ) |   | $ | (2,806 | ) |
| Balance      Sheet Amounts                          |   |                              |   |   |   |   |   |   |
| Noncurrent      liabilities                         |   | $                                 | (3,429 | ) |   | $ | (2,806 | ) |

|                          |   | U.S.      Post- |   |
|-------------------------------|--------|-----------------|--------|
|                          |   | Retirement      |   |
| Year      ending November 30, |   | Benefits        |   |
| 2010                          |   | $               | 264    |   |
| 2011                          |   |            | 251    |   |
| 2012                          |   |            | 259    |   |
| 2013                          |   |            | 260    |   |
| 2014                          |   |            | 282    |   |
| 2015      - 2019              |   |            | 1,648  |   |

|                                                        |   | U.S.      Postretirement Benefits |   |
|-------------------------------------------------------------|--------|-----------------------------------|--------|
| (In      thousands)                                         |   | 2009                              |   |   | 2008 |   |   | 2007 |   |
| Service      cost                                           |   | $                                 | 81     |   |   | $ | 96 |   |   | $ | 88 |   |
| Interest      cost                                          |   |                              | 222    |   |   |   | 209 |   |   |   | 202 |   |
| Expected      return on plan assets                         |   |                              | (29    | ) |   |   | (32 | ) |   |   | (35 | ) |
| Amortization      of unrecognized prior service cost        |   |                              | 19     |   |   |   | 19 |   |   |   | 19 |   |
| Amortization      of unrecognized net transition obligation |   |                              | 46     |   |   |   | 46 |   |   |   | 46 |   |
| Amortization      of accumulated loss                       |   |                              | 5      |   |   |   | 11 |   |   |   | 15 |   |
| Net      periodic cost                                      |   | $                                 | 344    |   |   | $ | 349 |   |   | $ | 335 |   |

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|                                         |   | U.S.      Postretirement Benefits |   |
|----------------------------------------------|--------|-----------------------------------|--------|
|                                         |   | 2009                              |   |   | 2008 |   |   | 2007 |   |
| Weighted-average      discount rate          |   |                              | 5.70   | % |   |   | 7.29 | % |   |   | 6.15 | % |
| Rate      of increase in compensation levels |   |                              | 3.50   | % |   |   | 4.25 | % |   |   | 3.65 | % |

|                                         |   | U.S.      Postretirement Benefits |   |
|----------------------------------------------|--------|-----------------------------------|--------|
|                                         |   | 2009                              |   |   | 2008 |   |   | 2007 |   |
| Weighted-average      discount rate          |   |                              | 7.29   | % |   |   | 6.15 | % |   |   | 5.95 | % |
| Rate      of increase in compensation levels |   |                              | 4.25   | % |   |   | 3.65 | % |   |   | 3.45 | % |

|                                                                                      |   |  1% |   |   | 1%       |   |
|-------------------------------------------------------------------------------------------|--------|----------|--------|--------|----------|--------|
| (In      thousands)                                                                       |   | Increase |   |   | Decrease |   |
| Effect      on total of service and interest cost components of net periodic      expense |   | $        | 19     |   |     | $      | (16 | ) |
| Effect      on postretirement benefit obligation                                          |   |     | 151    |   |     |   | (134 | ) |

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|                                                                          |   | SEGMENT      INFORMATION |    |
|-------------------------------------------------------------------------------|--------|--------------------------|---------|
|                                                                          |   | Fiberglass-              |    |   | Water |   |   | Infrastructure |   |   |   |   |   | Discontinued |   |   |   |   |   |   |   |
| (In      thousands)                                                           |   | Composite      Pipe      |    |   | Transmission |   |   | Products |   |   | Other |   |   | Operations |   |   | Eliminations |   |   | Total |   |
| 2009                                                                          |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Sales                                                                         |   | $                        | 225,444 |   |   | $ | 177,281 |   |   | $ | 144,235 |   |   | $ | - |   |   | $ | - |   |   | $ | (16 | ) |   | $ | 546,944 |   |
| Income      from continuing operations                                        |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| before      interest, income taxes and equity in earnings of joint    venture |   |                     | 68,172  |   |   |   | 1,941 |   |   |   | 13,216 |   |   |   | (30,405 | ) |   |   | - |   |   |   | - |   |   |   | 52,924 |   |
| Equity      in earnings of joint venture, net of taxes                        |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   | (5,512 | ) |   |   | - |   |   |   | - |   |   |   | (5,512 | ) |
| Income      from joint ventures - cost method                                 |   |                     | 4,764   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 4,764 |   |
| Investments                                                                   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|         Equity method venture                                       |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   | 30,626 |   |   |   | - |   |   |   | - |   |   |   | 30,626 |   |
|         Cost method ventures                                        |   |                     | 3,784   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 3,784 |   |
| Long-lived      assets                                                        |   |                     | 81,915  |   |   |   | 98,147 |   |   |   | 66,232 |   |   |   | 37,088 |   |   |   | 1,944 |   |   |   | - |   |   |   | 285,326 |   |
| Total      assets                                                             |   |                     | 314,980 |   |   |   | 191,981 |   |   |   | 95,311 |   |   |   | 307,071 |   |   |   | - |   |   |   | (146,794 | ) |   |   | 762,549 |   |
| Capital      expenditures                                                     |   |                     | 27,473  |   |   |   | 13,109 |   |   |   | 4,256 |   |   |   | 2,036 |   |   |   | - |   |   |   | - |   |   |   | 46,874 |   |
| Depreciation      and amortization                                            |   |                     | 6,639   |   |   |   | 9,631 |   |   |   | 5,187 |   |   |   | 651 |   |   |   | - |   |   |   | - |   |   |   | 22,108 |   |
| 2008                                                                          |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Sales                                                                         |   |                     | 274,129 |   |   |   | 215,308 |   |   |   | 179,059 |   |   |   | - |   |   |   | - |   |   |   | (953 | ) |   |   | 667,543 |   |
| Income      from continuing operations                                        |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| before      interest, income taxes and equity in earnings of joint    venture |   |                     | 80,994  |   |   |   | (9,212 | ) |   |   | 25,535 |   |   |   | (33,640 | ) |   |   | - |   |   |   | - |   |   |   | 63,677 |   |
| Equity      in earnings of joint venture, net of taxes                        |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   | 10,337 |   |   |   | - |   |   |   | - |   |   |   | 10,337 |   |
| Income      from joint ventures - cost method                                 |   |                     | 2,514   |   |   |   | 1,496 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 4,010 |   |
| Investments                                                                   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|         Equity method venture                                       |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   | 14,428 |   |   |   | - |   |   |   | - |   |   |   | 14,428 |   |
|         Cost method ventures                                        |   |                     | 3,784   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 3,784 |   |
| Long-lived      assets                                                        |   |                     | 52,314  |   |   |   | 94,518 |   |   |   | 60,581 |   |   |   | 37,131 |   |   |   | (107 | ) |   |   | - |   |   |   | 244,437 |   |
| Total      assets                                                             |   |                     | 303,672 |   |   |   | 235,664 |   |   |   | 107,792 |   |   |   | 227,399 |   |   |   | 144 |   |   |   | (148,349 | ) |   |   | 726,322 |   |
| Capital      expenditures                                                     |   |                     | 23,269  |   |   |   | 25,457 |   |   |   | 10,548 |   |   |   | 1,897 |   |   |   | (474 | ) |   |   | - |   |   |   | 60,697 |   |
| Depreciation      and amortization                                            |   |                     | 5,833   |   |   |   | 7,729 |   |   |   | 5,987 |   |   |   | 860 |   |   |   | - |   |   |   | - |   |   |   | 20,409 |   |
| 2007                                                                          |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Sales                                                                         |   |                     | 237,850 |   |   |   | 190,261 |   |   |   | 205,711 |   |   |   | - |   |   |   | - |   |   |   | (2,812 | ) |   |   | 631,010 |   |
| Income      from continuing operations                                        |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| before      interest, income taxes and equity in earnings of joint    venture |   |                     | 62,347  |   |   |   | (6,026 | ) |   |   | 35,929 |   |   |   | (38,061 | ) |   |   | - |   |   |   | - |   |   |   | 54,189 |   |
| Equity      in earnings of joint venture, net of taxes                        |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   | 15,383 |   |   |   | - |   |   |   | - |   |   |   | 15,383 |   |
| Income      from joint ventures - cost method                                 |   |                     | 2,451   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,451 |   |
| Investments                                                                   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|         Equity method venture                                       |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   | 14,677 |   |   |   | - |   |   |   | - |   |   |   | 14,677 |   |
|         Cost method ventures                                        |   |                     | 3,784   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 3,784 |   |
| Long-lived      assets                                                        |   |                     | 42,270  |   |   |   | 77,429 |   |   |   | 53,747 |   |   |   | 34,536 |   |   |   | (107 | ) |   |   | - |   |   |   | 207,875 |   |
| Total      assets                                                             |   |                     | 260,567 |   |   |   | 218,247 |   |   |   | 103,993 |   |   |   | 226,239 |   |   |   | 144 |   |   |   | (103,378 | ) |   |   | 705,812 |   |
| Capital      expenditures                                                     |   |                     | 6,810   |   |   |   | 31,219 |   |   |   | 8,675 |   |   |   | 993 |   |   |   | - |   |   |   | - |   |   |   | 47,697 |   |
| Depreciation      and amortization                                            |   |                     | 5,294   |   |   |   | 4,911 |   |   |   | 5,891 |   |   |   | 938 |   |   |   | - |   |   |   | - |   |   |   | 17,034 |   |

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|                             |   | GEOGRAPHIC      AREAS |    |
|----------------------------------|--------|-----------------------|---------|
|                             |   | United                |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (In      thousands)              |   | States                |    |   | Europe |   |   | Asia |   |   | Other |   |   | Eliminations |   |   | Total |   |
| 2009                             |   |                  |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Sales      to external customers |   | $                     | 375,297 |   |   | $ | 27,014 |   |   | $ | 121,341 |   |   | $ | 23,308 |   |   | $ | (16 | ) |   | $ | 546,944 |   |
| Long-lived      assets           |   |                  | 230,705 |   |   |   | 8,647 |   |   |   | 27,619 |   |   |   | 18,355 |   |   |   | - |   |   |   | 285,326 |   |
| Total      assets                |   |                  | 621,667 |   |   |   | 47,427 |   |   |   | 185,462 |   |   |   | 55,469 |   |   |   | (147,476 | ) |   |   | 762,549 |   |
| 2008                             |   |                  |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Sales      to external customers |   |                  | 459,840 |   |   |   | 35,694 |   |   |   | 135,057 |   |   |   | 37,905 |   |   |   | (953 | ) |   |   | 667,543 |   |
| Long-lived      assets           |   |                  | 197,159 |   |   |   | 7,811 |   |   |   | 25,764 |   |   |   | 13,703 |   |   |   | - |   |   |   | 244,437 |   |
| Total      assets                |   |                  | 610,102 |   |   |   | 44,463 |   |   |   | 198,491 |   |   |   | 21,615 |   |   |   | (148,349 | ) |   |   | 726,322 |   |
| 2007                             |   |                  |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Sales      to external customers |   |                  | 453,705 |   |   |   | 47,844 |   |   |   | 112,306 |   |   |   | 19,967 |   |   |   | (2,812 | ) |   |   | 631,010 |   |
| Long-lived      assets           |   |                  | 165,144 |   |   |   | 10,110 |   |   |   | 24,115 |   |   |   | 8,506 |   |   |   | - |   |   |   | 207,875 |   |
| Total      assets                |   |                  | 452,697 |   |   |   | 53,718 |   |   |   | 246,742 |   |   |   | 56,033 |   |   |   | (103,378 | ) |   |   | 705,812 |   |

| Level 1 | Quoted      prices are available in active markets for identical assets or liabilities      as of the reporting date.  Active markets are those in which      transactions for the asset or liability occur in sufficient frequency and      volume to provide pricing information on an ongoing      basis.  Level 1 primarily consists of financial instruments such      as exchange-traded derivatives, listed equities and U.S. government      treasury securities. |
|--------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Level 2 | Pricing      inputs are other than quoted prices in active markets included in Level 1,      which are either directly or indirectly observable as of the reporting      date.  Level 2 includes those financial instruments that are      valued using models or other valuation methodologies.  These      models are primarily industry-standard models that consider various      assumptions, including quoted forward prices for commodities, time value,      volatility factors, and current market and contractual prices for the      underlying instruments, as well as other relevant economic      measures.  Substantially all of these assumptions are observable      in the marketplace throughout the full term of the instrument, can be      derived from observable data or are supported by observable levels at      which transactions are executed in the marketplace.  Instruments      in this category include non-exchange-traded derivatives such as      over-the-counter forwards, options and repurchase    agreements. |
|--------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Level 3 | Pricing      inputs include significant inputs that are generally less observable from      objective sources.  These inputs may be used with internally      developed methodologies that result in Management’s best estimate of fair      value from the perspective of a market participant.  Level 3      instruments include those that may be more structured or otherwise      tailored to customers’ needs.  At each balance sheet date, the      Company performs an analysis of all instruments and includes in Level 3      all of those whose fair value is based on significant unobservable      inputs. |
|--------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                        |   | Fair      Value Measurements Using |   |   | Liabilities  |   |
|-----------------------------|--------|------------------------------------|--------|--------|--------------|--------|
| (In      thousands)         |   | Level      1                       |   |   | Level      2 |   |   | Level      3 |   |   | At      Fair Value |   |
| Liabilities                 |   |                               |   |   |         |   |   |   |   |   |   |   |
| Derivative      liabilities |   | $                                  | -      |   |         | $      | 16 |   |   | $ | - |   |   | $ | 16 |   |
| Total      liabilities      |   | $                                  | -      |   |         | $      | 16 |   |   | $ | - |   |   | $ | 16 |   |

|                        |   | Fair      Value Measurements Using |   |   | Liabilities  |   |
|-----------------------------|--------|------------------------------------|--------|--------|--------------|--------|
| (In      thousands)         |   | Level      1                       |   |   | Level      2 |   |   | Level      3 |   |   | At      Fair Value |   |
| Liabilities                 |   |                               |   |   |         |   |   |   |   |   |   |   |
| Derivative      liabilities |   | $                                  | -      |   |         | $      | 63 |   |   | $ | - |   |   | $ | 63 |   |
| Total      liabilities      |   | $                                  | -      |   |         | $      | 63 |   |   | $ | - |   |   | $ | 63 |   |

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| (In      thousands, except per share data)             |   | FirstQuarter |    |   | SecondQuarter |   |    | ThirdQuarter |   |   | FourthQuarter |   |
|--------------------------------------------------------|--------|--------------|---------|--------|---------------|--------|---------|--------------|--------|--------|---------------|--------|
| 2009                                                   |   |         |    |   |          |   |    |         |   |   |          |   |
| Sales                                                  |   | $            | 146,002 |   |          | $      | 132,920 |         |   | $      | 131,378       |   |   | $ | 136,644 |   |
| Gross      profit                                      |   |         | 34,921  |   |          |   | 36,550  |         |   |   | 35,618        |   |   |   | 38,363 |   |
| Income      from continuing operations, net of taxes   |   |         | 3,826   |   |          |   | 9,426   |         |   |   | 5,948         |   |   |   | 13,283 |   |
| Income      from discontinued operations, net of taxes |   |         | -       |   |          |   | -       |         |   |   | -             |   |   |   | 817 |   |
| Net      income                                        |   |         | 3,826   |   |          |   | 9,426   |         |   |   | 5,948         |   |   |   | 14,100 |   |
| Diluted      net income per share:                     |   |         |    |   |          |   |    |         |   |   |          |   |   |   |   |   |
| Income      from continuing operations, net of taxes   |   |         | .42     |   |          |   | 1.03    |         |   |   | .65           |   |   |   | 1.44 |   |
| Income      from discontinued operations, net of taxes |   |         | -       |   |          |   | -       |         |   |   | -             |   |   |   | .09 |   |
| Net      income                                        |   |         | .42     |   |          |   | 1.03    |         |   |   | .65           |   |   |   | 1.53 |   |
| Stock      price per share-high                        |   |         | 66.25   |   |          |   | 60.21   |         |   |   | 79.20         |   |   |   | 89.00 |   |
| Stock      price per share-low                         |   |         | 44.84   |   |          |   | 41.86   |         |   |   | 50.81         |   |   |   | 56.96 |   |
| Dividends      per share                               |   |         | .30     |   |          |   | .30     |         |   |   | .30           |   |   |   | .30 |   |
| 2008                                                   |   |         |    |   |          |   |    |         |   |   |          |   |   |   |   |   |
| Sales                                                  |   |         | 149,769 |   |          |   | 159,793 |         |   |   | 170,107       |   |   |   | 187,874 |   |
| Gross      profit                                      |   |         | 33,452  |   |          |   | 39,746  |         |   |   | 37,455        |   |   |   | 42,968 |   |
| Income      from continuing operations, net of taxes   |   |         | 9,737   |   |          |   | 16,333  |         |   |   | 14,998        |   |   |   | 17,524 |   |
| Income      from discontinued operations, net of taxes |   |         | -       |   |          |   | -       |         |   |   | -             |   |   |   | - |   |
| Net      income                                        |   |         | 9,737   |   |          |   | 16,333  |         |   |   | 14,998        |   |   |   | 17,524 |   |
| Diluted      net income per share:                     |   |         |    |   |          |   |    |         |   |   |          |   |   |   |   |   |
| Income      from continuing operations, net of taxes   |   |         | 1.07    |   |          |   | 1.78    |         |   |   | 1.63          |   |   |   | 1.91 |   |
| Income      from discontinued operations, net of taxes |   |         | -       |   |          |   | -       |         |   |   | -             |   |   |   | - |   |
| Net      income                                        |   |         | 1.07    |   |          |   | 1.78    |         |   |   | 1.63          |   |   |   | 1.91 |   |
| Stock      price per share-high                        |   |         | 110.84  |   |          |   | 122.79  |         |   |   | 130.51        |   |   |   | 117.38 |   |
| Stock      price per share-low                         |   |         | 79.06   |   |          |   | 88.52   |         |   |   | 109.50        |   |   |   | 33.30 |   |
| Dividends      per share                               |   |         | .25     |   |          |   | .30     |         |   |   | .30           |   |   |   | .30 |   |

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| Consolidated      Statements of Income for the years ended November 30, 2009, 2008 and      2007.               |
|-----------------------------------------------------------------------------------------------------------------|
| Consolidated      Balance Sheets as of November 30, 2009 and 2008.                                              |
| Consolidated      Statements of Stockholders' Equity for the years ended November 30, 2009,      2008 and 2007. |
| Consolidated      Statements of Comprehensive Income for the years ended November 30, 2009,      2008 and 2007. |
| Consolidated      Statements of Cash Flows for the years ended November 30, 2009, 2008 and      2007.           |
| Notes      to Consolidated Financial Statements                                                                 |
| Report      of Independent Registered Public AccountingFirm                                                     |

| SCHEDULE      NO. | DESCRIPTION      OF SCHEDULE                       |
|-------------------|----------------------------------------------------|
| II                | Valuation      and Qualifying Accounts andReserves |

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| EXHIBIT      NO. | DESCRIPTION      OF EXHIBIT                                                                                                                                                                                                                                                                                                                                        |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1              | Restated      Certificate of Incorporation, effective May 4, 2009 (incorporated by      reference to the Company’s Quarterly Report on Form 10-Q for the period      ended May 31, 2009)                                                                                                                                                                     |
| 3.2              | Bylaws      (incorporated by reference to Exhibit 3.2 to the Company’s Current Report      on Form 8-K dated September 26, 2008)                                                                                                                                                                                                                             |
| 4.1              | Note      Purchase Agreement dated November 25, 2005, re: SGD 51,000,000 4.25%      Senior Secured Notes due November 25, 2012 (incorporated by reference to      Exhibit 4.3 to the Company’s Annual Report on Form 10-K for the year ended      November 30, 2008)                                                                                         |
| 4.2              | Agreement      to furnish to the Securities and Exchange Commission upon request a copy      of instruments defining the rights of holders of certain long-term debt of      the Company and consolidated subsidiaries (incorporated by reference to      Exhibit 4.4 to the Company’s Annual Report on Form 10-K for the year ended      November 30, 2008) |
| 10.1             | Seventh      Amendment to Credit Agreement dated August 28, 2009 (incorporated by      reference to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q      for the period ended August 30, 2009)                                                                                                                                                   |
| 10.2             | Amended      and Restated Employment Agreement between James S. Marlen and the Company      (incorporated by reference to Exhibit 10(1) to the Company’s Annual Report      on Form 10-K for the year ended November 30, 2003)**                                                                                                                             |
| 10.3             | First      Amendment to Amended and Restated Employment Agreement between James S.      Marlen and the Company (incorporated by reference to Exhibit 99.1 to the      Company’s Current Report on Form 8-K dated September 21,      2007)**                                                                                                                  |
| 10.4             | Performance      Stock Unit Agreement between James S. Marlen and the Company (incorporated      by reference to Exhibit 99.2 to the Company’s Current Report on Form 8-K      dated September 21, 2007)**                                                                                                                                                   |
| 10.5             | Change      of Control Agreement between Javier Solis and the Company (incorporated by      reference to Exhibit 10(2) to the Company’s Annual Report on Form 10-K for      the year ended November 30, 1998)**                                                                                                                                              |
| 10.6             | Amendment      to Change of Control Agreement between Javier Solis and the Company      (incorporated by reference to Exhibit 10.3 to the Company’s Current Report      on Form 8-K dated December 17, 2008)**                                                                                                                                               |
| 10.7             | Change      of Control Agreement between Gary Wagner and the Company (incorporated by      reference to Exhibit 10(3) to the Company’s Annual Report on Form 10-K for      the year ended November 30, 1998)**                                                                                                                                               |
| 10.8             | Amendment      to Change of Control Agreement between Gary Wagner and the Company      (incorporated by reference to Exhibit 10.1 to the Company’s Current Report      on Form 8-K dated December 17, 2008)**                                                                                                                                                |
| 10.9             | Change      of Control Agreement between James R. McLaughlin and the Company      (incorporated by reference to Exhibit 10(5) to the Company’s Annual Report      on Form 10-K for the year ended November 30, 2000)**                                                                                                                                       |
| 10.10            | Amendment      to Change of Control Agreement between James R. McLaughlin and the Company      (incorporated by reference to Exhibit 10.2 to the Company’s Current Report      on Form 8-K dated December 17, 2008)**                                                                                                                                        |
| 10.11            | Letter      Agreement dated October 19, 2009 between the Company and James R.      McLaughlin (incorporated by reference to Exhibit 10.1 to the Company's      Current Report on Form 8-K dated October 19, 2009)**                                                                                                                                                |
| 10.12            | Change      of Control Agreement between Stephen E. Johnson and the Company      (incorporated by reference to Exhibit 10.4 to the Company’s Current Report      on Form 8-K dated December 17, 2008)**                                                                                                                                                      |
| 10.13            | 2001      Stock Incentive Plan (incorporated by reference to Exhibit 2 to the      Company’s Proxy Statement for the Annual Meeting of Stockholders held on      March 21, 2001)**                                                                                                                                                                           |
| 10.14            | 2004      Stock Incentive Plan (incorporated by reference to Exhibit E to the      Company’s Proxy Statement for the Annual Meeting of Stockholders held on      March 24, 2004)**                                                                                                                                                                           |
| 10.15            | Key      Executive Long-Term Cash Incentive Plan (incorporated by reference to      Exhibit C to the Company’s Proxy Statement for the Annual Meeting of      Stockholders held on March 26, 2008)**                                                                                                                                                         |
| 10.16            | Form      of Restricted Stock Agreement for Employees (incorporated by reference to      Exhibit 99.1 to the Company’s Current Report on Form 8-K dated January 27,      2006)**                                                                                                                                                                             |
| 10.17            | Form      of Restricted Stock Agreement for Non-Employee Directors (incorporated by      reference to Exhibit 99.1 to the Company’s Current Report on Form 8-K      dated March 23, 2006)**                                                                                                                                                                  |
| 21               | Subsidiaries      of the Registrant *                                                                                                                                                                                                                                                                                                                              |
| 23.1             | Consent      of PricewaterhouseCoopers LLP *                                                                                                                                                                                                                                                                                                                       |
| 23.2             | Consent      of PricewaterhouseCoopers LLP regarding TAMCO *                                                                                                                                                                                                                                                                                                       |
| 31.1             | Section 302      Certification of Chief Executive Officer *                                                                                                                                                                                                                                                                                                   |
| 31.2             | Section 302      Certification of Chief Financial Officer *                                                                                                                                                                                                                                                                                                   |
| 32               | Section 906      Certification of Chief Executive Officer and Chief Financial Officer      *                                                                                                                                                                                                                                                                  |
| 99.1             | TAMCO      Financial Statements as of November 30, 2009, and for each of the three      years in the period ended November 30, 2009 and associated Report of      Independent Registered Public Accounting Firm*                                                                                                                                                   |

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|                                 |   |            |   |   | Additions       |   |   | Deductions, |   |   |              |   |   |           |   |
|--------------------------------------|--------|-----------------|--------|--------|-----------------|--------|--------|-------------|--------|--------|-------------------|--------|--------|----------------|--------|
|                                 |   | Balance      at |   |   | Charged      to |   |   | Payments    |   |   |              |   |   | Balance        |   |
|                                 |   | Beginning       |   |   | Costs      and  |   |   | And         |   |   | Reclassifications |   |   | at      End of |   |
| Classification                       |   | of      Year    |   |   | Expenses        |   |   | Write-offs  |   |   | and      Other    |   |   | Year           |   |
|                                 |   |            |   |   |            |   |   |        |   |   |              |   |   |           |   |
| Allowance      for doubtful accounts |   | $               | 7,009  |   |            | $      | 1,487  |        |   | $      | (2,191            | )      |   | $              | (954   | )      * |   | $ | 5,351 |   |
| Valuation      allowance             |   |            | 10,248 |   |            |   | (1,579 | )           |   |   | -                 |   |   |           | (1,596 | ) |   |   | 7,073 |   |

|                                 |   |            |   |   | Additions       |   |   | Deductions, |   |   |              |   |   |           |   |
|--------------------------------------|--------|-----------------|--------|--------|-----------------|--------|--------|-------------|--------|--------|-------------------|--------|--------|----------------|--------|
|                                 |   | Balance      at |   |   | Charged      to |   |   | Payments    |   |   |              |   |   | Balance        |   |
|                                 |   | Beginning       |   |   | Costs      and  |   |   | And         |   |   | Reclassifications |   |   | at      End of |   |
| Classification                       |   | of      Year    |   |   | Expenses        |   |   | Write-offs  |   |   | and      Other    |   |   | Year           |   |
|                                 |   |            |   |   |            |   |   |        |   |   |              |   |   |           |   |
| Allowance      for doubtful accounts |   | $               | 6,235  |   |            | $      | 4,419  |        |   | $      | (3,533            | )      |   | $              | (112   | )      * |   | $ | 7,009 |   |
| Valuation      allowance             |   |            | 15,611 |   |            |   | 24     |        |   |   | -                 |   |   |           | (5,387 | ) |   |   | 10,248 |   |

|                                 |   |            |   |   | Additions       |   |   | Deductions, |   |   |              |   |   |           |   |
|--------------------------------------|--------|-----------------|--------|--------|-----------------|--------|--------|-------------|--------|--------|-------------------|--------|--------|----------------|--------|
|                                 |   | Balance      at |   |   | Charged      to |   |   | Payments    |   |   |              |   |   | Balance        |   |
|                                 |   | Beginning       |   |   | Costs      and  |   |   | And         |   |   | Reclassifications |   |   | at      End of |   |
| Classification                       |   | of      Year    |   |   | Expenses        |   |   | Write-offs  |   |   | and      Other    |   |   | Year           |   |
|                                 |   |            |   |   |            |   |   |        |   |   |              |   |   |           |   |
| Allowance      for doubtful accounts |   | $               | 4,912  |   |            | $      | 3,248  |        |   | $      | (2,212            | )      |   | $              | 287    | * |   | $ | 6,235 |   |
| Valuation      allowance             |   |            | 21,900 |   |            |   | (3,313 | )           |   |   | -                 |   |   |           | (2,976 | ) |   |   | 15,611 |   |

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| By:    | /s/      Gary Wagner         |   |
|--------|------------------------------|--------|
|   | Chief      Financial Officer |

|          |                        |   |                                                    |
|---------------|-----------------------------|--------|---------------------------------------------------------|
| Date: 1-29-10 | /s/      James S. Marlen    |   | Director,      Chairman of the Board, President         |
|          | James      S. Marlen        |   | and      Chief Executive Officer                        |
|          |                        |   |  (Principal      Executive Officer)                |
|          |                        |   |                                                    |
| Date: 1-29-10 | /s/      Gary Wagner        |   | Senior      Vice President, Finance and Administration, |
|          | Gary      Wagner            |   | and      Chief Financial Officer                        |
|          |                        |   | (Principal      Financial & Accounting Officer)     |
|          |                        |   |                                                    |
| Date: 1-29-10 | /s/David      Davenport     |   | Director                                                |
|          | David      Davenport        |   |                                                    |
|          |                        |   |                                                    |
| Date: 1-29-10 | /s/J.      Michael Hagan    |   | Director                                                |
|          | J.      Michael Hagan       |   |                                                    |
|          |                        |   |                                                    |
| Date: 1-29-10 | /s/Terry      L.Haines      |   | Director                                                |
|          | Terry      L. Haines        |   |                                                    |
|          |                        |   |                                                    |
| Date: 1-29-10 | /s/William      D. Horsfall |   | Director                                                |
|          | William      D. Horsfall    |   |                                                    |
|          |                        |   |                                                    |
| Date: 1-29-10 | /s/John      E. Peppercorn  |   | Director                                                |
|          | John      E. Peppercorn     |   |                                                    |
|          |                        |   |                                                    |