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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                    FORM 10-Q


    (Mark One)
        [X]            QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
    -----------            OF THE SECURITIES EXCHANGE ACT OF 1934
                     For the quarterly period ended March 31, 2002
                                          OR
    -----------    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                         OF THE SECURITIES EXCHANGE ACT OF 1934

                  For the transition period from ________ to ________
                            Commission File Number 1-13404


                    GENERAL CHEMICAL INDUSTRIAL PRODUCTS INC.
             (Exact name of Registrant as specified in its charter)

<TABLE>

<S>                                                     <C>
                Delaware                                22-3649282
     (State of other jurisdiction of                 (I.R.S. Employer
     incorporation or organization)               Identification Number)

              Liberty Lane
         Hampton, New Hampshire                            03842
(Address of principal executive offices)                (Zip Code)

</TABLE>

       Registrant's telephone number, including area code: (603) 929-2606


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes [X] No [ ]


===============================================================================





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                    GENERAL CHEMICAL INDUSTRIAL PRODUCTS INC.

                                    FORM 10-Q

                      QUARTERLY PERIOD ENDED MARCH 31, 2002

                                      INDEX
                                      -----
<TABLE>
<CAPTION>

                                                                                    Page No.
                                                                                    --------
<S>                                                                                      <C>
PART I.  FINANCIAL INFORMATION:

     Item 1.  Financial Statements

         Consolidated Statements of Operations - Three Months
          Ended March 31, 2001 and 2002.............................................      1

         Consolidated Balance Sheets - December 31, 2001 and
          March 31, 2002............................................................      2

         Consolidated Statements of Cash Flows - Three Months
          Ended March 31, 2001 and 2002.............................................      3

         Notes to Consolidated Financial Statements.................................     4-6

     Item 2.  Management's Discussion and Analysis of Financial
               Condition and Results of Operations..................................      7

     Item 3.  Quantitative and Qualitative Disclosures
               about Market Risk....................................................      8

PART II.  OTHER INFORMATION:

     Item 6.  Exhibits and Reports on Form 8-K......................................      9

     SIGNATURES.....................................................................     10

</TABLE>






<Page>






                          Part I. Financial Information
                          -----------------------------

Item 1.  Financial Statements


                    GENERAL CHEMICAL INDUSTRIAL PRODUCTS INC.

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                      (In thousands, except per share data)
                                   (unaudited)

<TABLE>
<CAPTION>

                                                                                  Three Months Ended
                                                                                      March 31,
                                                                        -------------------------------------
                                                                               2001                 2002
                                                                               ----                 ----
<S>                                                                          <C>                   <C>
Net revenues..........................................................      $ 65,326               $57,377
Cost of revenues......................................................        64,484                49,120
Selling, general and administrative expense...........................         4,114                 3,952
                                                                        ------------          ------------
Operating (loss) profit ..............................................       (3,272)                 4,305
Interest expense......................................................         4,076                 3,584
Interest income.......................................................           234                   118
Other expense, net....................................................            87                    81
                                                                        ------------          ------------

(Loss) income before income taxes and minority interest...............       (7,201)                   758
Minority interest.....................................................           855                 2,543
                                                                        ------------          ------------
Loss before income taxes..............................................       (8,056)               (1,785)
Income tax provision..................................................           131                     6
                                                                        ------------          ------------
           Net loss...................................................      $(8,187)               $(1,791)
                                                                        ============          ============

</TABLE>











        See the accompanying notes to consolidated financial statements.



                                       1


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                    GENERAL CHEMICAL INDUSTRIAL PRODUCTS INC.

                           CONSOLIDATED BALANCE SHEETS
                      (In thousands, except per share data)

<TABLE>
<CAPTION>

                                                                                               December 31,    March 31,
                                                                                                   2001            2002
                                                                                                   ----            ----
                                                                                                               (unaudited)
<S>                                                                                               <C>             <C>
                                                  ASSETS
Current assets:
       Cash and cash equivalents...................................................               $ 14,182        $ 18,344
       Receivables, net............................................................                 48,961          44,238
       Inventories.................................................................                 25,813          30,656
       Deferred income taxes.......................................................                  6,934           4,963
       Other current assets........................................................                  5,485           5,530
                                                                                              ------------    ------------
          Total current assets.....................................................                101,375         103,731
Property, plant and equipment, net.................................................                100,365          99,294
Other assets                                                                                        16,881          17,287
                                                                                              ------------    ------------
          Total assets.............................................................               $218,621        $220,312

                                                                                              ============    ============
                                        LIABILITIES AND EQUITY (DEFICIT)

Current liabilities:
       Accounts payable............................................................               $ 21,177        $ 21,121
       Accrued liabilities.........................................................                 30,545          31,850
                                                                                              ------------    ------------
          Total current liabilities................................................                 51,722          52,971
Long-term debt.....................................................................                146,487         146,383
Other liabilities..................................................................                 78,498          78,540
                                                                                              ------------    ------------
          Total liabilities........................................................                276,707         277,894
                                                                                              ------------    ------------
Minority interest..................................................................                 38,983          41,137
                                                                                              ------------    ------------
Equity (Deficit):
      Common Stock, $.01 par value; authorized 1,000
        shares; issued and outstanding: 1,000 shares at
        December 31, 2001 and March  31, 2002, respectively........................                     --              --
      Capital deficit..............................................................               (43,523)        (43,490)
      Accumulated other comprehensive income.......................................                  1,412           1,547
      Retained earnings............................................................               (54,958)        (56,776)
                                                                                              ------------    ------------
      Total equity (deficit).......................................................               (97,069)        (98,719)
                                                                                              ------------    ------------
          Total liabilities and equity (deficit)...................................              $218,621        $220,312
                                                                                              ============    ============
</TABLE>






        See the accompanying notes to consolidated financial statements.



                                       2


<Page>




                    GENERAL CHEMICAL INDUSTRIAL PRODUCTS INC.

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (In thousands)
                                   (unaudited)

<TABLE>
<CAPTION>

                                                                                       Three Months Ended
                                                                                           March 31,
                                                                                     2001             2002
                                                                                     ----             ----
<S>                                                                                 <C>              <C>
Cash flows from operating activities:
       Net loss..............................................................       $ (8,187)        $(1,791)
       Adjustments to reconcile net loss to net cash
         provided by operating activities:
         Depreciation and amortization.......................................          4,555           3,314
         Decrease in receivables.............................................          4,225           4,723
         Increase in inventories.............................................           (675)         (4,843)
         Decrease in accounts payable........................................         (2,388)            (56)
         Increase in accrued liabilities.....................................          1,024           1,305
         Decrease in other liabilities and assets, net.......................          6,085           1,751
         Increase in minority interest.......................................             14           2,154
                                                                                ------------    ------------
             Net cash provided by operating activities.......................          4,653           6,557
                                                                                ------------    ------------
Cash flows from investing activities:
       Capital expenditures..................................................         (1,432)         (2,401)
                                                                                ------------    ------------
             Net cash used for investing activities..........................         (1,432)         (2,401)
                                                                                ------------    ------------
Cash flows from financing activities:
       Other financing activities............................................             86               6
                                                                                ------------    ------------
             Net cash provided by financing activities.......................             86               6
                                                                                ------------    ------------
Increase in cash and cash equivalents........................................          3,307           4,162
Cash and cash equivalents at beginning of period.............................         18,419          14,182
                                                                                ------------    ------------
Cash and cash equivalents at end of period...................................       $ 21,726        $ 18,344
                                                                                ============    ============

Supplemental disclosure of cash flow information: Cash paid (refunded) during
       the period for:
         Interest............................................................       $  1,135        $    623
         Taxes ..............................................................       $ (4,264)       $ (1,219)

</TABLE>






        See the accompanying notes to consolidated financial statements.



                                       3


<Page>





                    GENERAL CHEMICAL INDUSTRIAL PRODUCTS INC.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    For the three months ended March 31, 2002
                             (Dollars in thousands)
                                   (unaudited)


Note 1 - Basis of Presentation

         General Chemical Industrial Products Inc. ("GCIP" or the "Company") is
a leading North American supplier of soda ash and calcium chloride to a broad
range of industrial and municipal customers. The primary end markets for soda
ash include glass production, sodium-based chemicals, powdered detergents, water
treatment and other industrial end uses. Calcium chloride is mainly used for
dust control and roadbed stabilization during the summer and melting ice during
the winter.

         The accompanying unaudited consolidated financial statements include
the accounts of GCIP and its subsidiaries (collectively, the "Company"). These
unaudited financial statements have been prepared by the Company pursuant to the
rules and regulations of the Securities and Exchange Commission. The financial
statements do not include certain information and footnotes required by
generally accepted accounting principles. In the opinion of management, all
adjustments (consisting of normal recurring adjustments) considered necessary
for a fair presentation have been included. Operating results for the three
months ended March 31, 2002 are not necessarily indicative of the results that
may be expected for the year ending December 31, 2002. The Company's financial
statements should be read in conjunction with the financial statements and the
notes thereto for the year ended December 31, 2001 included in the Form 10-K.

         Certain prior-period amounts have been reclassified to conform with the
current-year presentation.

Note 2 - Comprehensive Loss

         Total comprehensive loss is comprised of net loss and foreign currency
translation gains and (losses). Total comprehensive loss for the three months
ended March 31, 2001 and 2002 was ($5,906) and ($1,656), respectively.

Note 3 - Additional Financial Information

         The components of inventories were as follows:

<TABLE>
<CAPTION>

                                                                            December 31,        March 31,
                                                                                2001              2002
                                                                                ----              ----

<S>                                                                           <C>               <C>
               Raw materials......................................            $ 1,302           $ 1,081
               Work in process....................................              3,448             5,263
               Finished products..................................             14,110            17,343
               Supplies and containers............................              6,953             6,969
                                                                        -------------     -------------
                                                                              $25,813           $30,656
                                                                        =============     =============
</TABLE>

Note 4 - Restructuring

         In the fourth quarter of 2000, the Company recorded a pretax
restructuring charge, including related asset writedowns and workforce
reductions, of $59.8 million. In the second quarter of 2001, the Company
provided for additional pretax restructuring charges of $1.7 million for revised
actuarial estimates of employee termination benefits. The restructuring involved
the idling of the Company's synthetic soda ash production capacity in
Amherstburg, Ontario, Canada. The balance of the restructuring accrual at
December 31, 2001 was $4.2 million. Spending against this accrual was $0.3
million during the three months ended March 31, 2002.





                                       4


<Page>






                    GENERAL CHEMICAL INDUSTRIAL PRODUCTS INC.

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
                    For the three months ended March 31, 2002
                             (Dollars in thousands)
                                   (unaudited)



Note 5 - Related Party Transactions

Management Agreement

         The Company is party to a management agreement with Latona Associates
Inc. (which is controlled by a stockholder of The General Chemical Group Inc.)
under which the Company receives corporate supervisory and administrative
services and strategic guidance for a quarterly fee. This management fee was
$393 and $412 for the three months ended March 31, 2001 and 2002, respectively.

Transition Support Agreement

         The Company and GenTek, Inc. have entered into various transition
agreements that provide mechanisms for an orderly transition after the Spinoff.
For the three months ended March 31, 2001 and 2002, the Comnpany paid GenTek,
Inc. $339 and $344, respectively, related to these transition agreements.

Other Transactions

         The Company supplies soda ash to GenTek, Inc. For the three months
ended March 31, 2001 and 2002, sales to GenTek, Inc. amounted to $959 and $602,
respectively.

Note 7 - Geographic Information

<TABLE>
<CAPTION>

                                                             Total Revenues          Operating Profit (Loss)
                                                               March 31,                   March 31,
                                                                ---------                   ---------
                                                          2001           2002          2001           2002
                                                          ----           ----          ----           ----
<S>                                                    <C>            <C>            <C>            <C>
     United States.............................        $  53,610      $ 51,527       $  (115)       $ 5,913
     Foreign  .................................           21,909        14,788        (3,157)        (1,608)
     Elimination ..............................         (10,193)       (8,938)             --             --
                                                    ------------  ------------     ----------     ----------
                                                       $ 65,326       $57,377        $(3,272)       $ 4,305
                                                    ============  ============     ==========     ==========

</TABLE>




                                       5


<Page>






                    GENERAL CHEMICAL INDUSTRIAL PRODUCTS INC.

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Concluded)
                    For the three months ended March 31, 2002
                             (Dollars in thousands)
                                   (unaudited)


Note 8 - Segment Information

         Industry segment information is summarized as follows:

<TABLE>
<CAPTION>

                                                                         Three Months Ended
                                                                              March 31,
                                                                         2001            2002
                                                                         ----            ----
<S>                                                                   <C>               <C>
     Net revenues:
          Soda Ash...........................................         $54,427           $50,438
          Calcium Chloride...................................          10,899             6,939
                                                                   -----------        ---------
                       Total Segment.........................         $65,326           $57,377
                                                                   ===========        =========
     Income (loss) before income taxes:
          Soda Ash...........................................         $(2,195)          $ 3,292
          Calcium Chloride...................................          (1,099)           (1,486)
                                                                   ------------       ---------
                       Total Segment.........................          (3,294)            1,806
     Eliminations and other corporate expenses...............          (4,772)           (3,591)
                                                                   -----------        ---------
                                                                      $(8,056)          $(1,785)
                                                                   ===========        =========
     Capital Expenditures:
          Soda Ash...........................................         $   970           $1,236
          Calcium Chloride...................................             384            1,141
     Elimination and other corporate expenses................              78               24
                                                                   -----------       ----------
                                                                      $ 1,432           $2,401
                                                                   ===========       ==========
     Depreciation & Amortization:
          Soda Ash...........................................         $ 3,994           $2,688
          Calcium Chloride...................................             264               406
     Elimination and other corporate expenses................             297               220
                                                                   -----------       ----------
                                                                      $ 4,555           $ 3,314
                                                                   ===========       ==========
</TABLE>






                                       6


<Page>






Item 2.  Management's Discussion and Analysis of
Financial Condition and Results of Operations.

Financial Condition

March 31, 2002 Compared with December 31, 2001

         Cash and cash equivalents were $18.3 million at March 31, 2002 compared
with $14.2 million at December 31, 2001. During the first three months of 2002,
the Company generated cash flow from operating activities of $6.6 million, and
used cash of $2.4 million for capital expenditures.

         The Company had working capital of $50.8 million at March 31, 2002 as
compared with $49.7 million at December 31, 2001. This increase in working
capital principally reflects higher cash balances and inventories partially
offset by higher accrued liabilities and lower receivables.

         The Company is significantly leveraged. At March 31, 2002, outstanding
indebtedness consisted of $100 million of notes and $46.4 million outstanding
under the credit facility. The Company's leverage and debt service requirements
(1) increase its vulnerability to economic downturns, (2) potentially limit the
Company's ability to respond to competitive pressures, and (3) may limit the
Company's ability to obtain additional financing in the future for working
capital, capital expenditures, acquisitions, strategic investments or general
corporate purposes. The Company's indenture and credit facility impose operating
and financial restrictions on the Company. These covenants affect, and in
certain cases, limit the Company's ability to incur additional indebtedness,
make capital expenditures, make investments and acquisitions and sell assets,
pay dividends and make other distributions to shareholders, and consolidate,
merge or sell all or substantially all assets. The Company was in compliance
with the covenants contained in its indenture and credit facility at March 31,
2002, although there can be no assurances given as to compliance with these
covenants in future periods. A failure to comply with the covenants contained in
the credit agreement or indenture may result in the Company's indebtedness
becoming immediately due and payable, which would have a material adverse effect
on our business results of operations and financial condition.

Results of Operations

March 31, 2002 Compared with March 31, 2001

         Net revenues for the three month period ended March 31, 2002 decreased
$7.9 million to $57.4 million from $65.3 million in the comparable prior year
period. Net revenues were negatively effected by lower calcium chloride volumes
due to warm winter weather and lower soda ash volumes due to the April 2001
idling of the Company's Amherstburg synthetic soda ash facility, partially
offset by higher domestic soda ash prices.

         Gross profit for the three month period ended March 31, 2002 increased
$7.5 million to $8.3 million from $0.8 million in the comparable prior year
period. Gross profit as a percentage of net revenues for the three month period
ended March 31, 2002 increased to 14.4 percent from 1.3 percent for the same
period in 2001. These increases were primarily due to higher domestic soda ash
prices, lower operating costs resulting from the April 2001 idling of the
Company's Amherstburg soda ash facility, and lower energy costs. In addition,
the prior year's quarter includes costs incurred to start up operations at our
Manistee, Michigan calcium chloride facility.

         Selling, general and administrative expense as a percentage of net
revenues for the three month period ended March 31, 2002 was 6.9 percent as
compared to 6.3 percent in 2001.

         Interest expense for the three month period ended March 31, 2002
decreased $0.5 million to $3.6 million, from $4.1 million in the comparable
prior year period. The decrease is a result of lower credit facility borrowing
rates and amendment fees expensed in the comparable prior year period.



                                       7


<Page>


         Minority interest for the three month period ended March 31, 2002
increased $1.7 million to $2.5 million, from $0.9 million in the comparable
prior year period. The increase reflects higher earnings at General Chemical
(Soda Ash) Partners primarily due to higher domestic soda ash prices and lower
energy costs.

         Net loss was $1.8 million for the three month period ended March 31,
2002, versus $8.2 million for the comparable period in 2001, for the foregoing
reasons.

Item 3.  Qualitative and Quantitative Disclosures about Market Risk

         Market risk represents the loss that may impact the consolidated
financial position, results of operations or cash flows of the Company. The
Company is exposed to market risk in the areas of interest and foreign exchange
rates.

         The Company's exposure to market risk for changes in interest rates
relates primarily to the Company's debt obligations. The Company has no cash
flow exposure due to rate changes on its $100 million in 10 5/8% Senior
Subordinated Notes, as the interest rates on these notes are fixed.

         However, the Company does have cash flow exposure on its committed and
uncommitted bank line of credit as interest is based on a floating rate. At
March 31, 2002 the Company had $46.4 million in borrowings under the credit
facility that had variable pricing. Accordingly, as of fiscal 2002, a 1% change
in the floating rate will result in interest expense fluctuating approximately
$0.5 million.

         The Company is also exposed to foreign exchange risk primarily to the
extent of adverse fluctuation in the Canadian dollar.

         The Company does not expect to enter into financial instruments for
trading purposes. The Company anticipates periodically entering into interest
rate swap agreements to effectively convert all or a portion of floating-rate
debt to fixed-rate debt in order to reduce exposure to movements in interest
rates. Such agreements would involve the exchange of fixed and floating interest
rate payments over the life of the agreement without the exchange of the
underlying principal amounts. The Company also anticipates periodically entering
into currency agreements to partially reduce exposure to movements in currency
exchange rates. Swap and currency agreements will only be entered into with
creditworthy parties.



                                       8


<Page>






Item 6.  Exhibits and Reports on Form 8-K

(a) Exhibits:

     None

(b) No reports were filed on Form 8-K.



                                       9


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                                   SIGNATURES



         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.




                            GENERAL CHEMICAL INDUSTRIAL PRODUCTS INC.
                            -----------------------------------------
                                           Registrant



Date May 15, 2002           /s/ De Lyle W. Bloomquist
     ----------------           -------------------------------------------
                                De Lyle W. Bloomquist
                                President and Chief Executive Officer
                                (Principal Executive Officer) and Director



Date May 15, 2002           /s/ David S. Graziosi
     ----------------           -------------------------------------------
                                David S. Graziosi
                                Vice President, Chief Financial Officer
                                (Principal Financial and Accounting Officer)
                                and Director



                                       10