<PAGE>

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

                       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 September 30, 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)

                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)

       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 |_|

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



<PAGE>

                    GENERAL CHEMICAL INDUSTRIAL PRODUCTS INC.

                                    FORM 10-Q

                    QUARTERLY PERIOD ENDED SEPTEMBER 30, 2002

                                      INDEX

                                                                        Page No.
                                                                        --------

PART I. FINANCIAL INFORMATION:

     Item 1. Financial Statements

         Consolidated Statements of Operations - Three Months
           And Nine Months Ended September 30, 2001 and 2002 .............     1

         Consolidated Balance Sheets - December 31, 2001 and
           September 30, 2002 ............................................     2

         Consolidated Statements of Cash Flows - Nine Months
           Ended September 30, 2001 and 2002 .............................     3

         Notes to Consolidated Financial Statements ......................   4-7

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

     Item 3. Qualitative and Quantitative Disclosures about Market Risk ..    10

     Item 4. Controls and Procedures .....................................    10

PART II. OTHER INFORMATION:

     Item 6. Exhibits and Reports on Form 8-K ............................    10

     SIGNATURES ..........................................................    11

     Certifications ...................................................... 12-13



<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             Nine Months Ended
                                                                      September 30,                 September 30,
                                                                 -----------------------      -----------------------
                                                                   2001           2002          2001           2002
                                                                   ----           ----          ----           ----
<S>                                                              <C>            <C>           <C>            <C>
Net revenues ..............................................      $ 73,201       $ 71,327      $217,896       $202,534
Cost of revenues ..........................................        65,532         58,442       199,335        170,437
Selling, general and administrative expense ...............         3,886          3,893        12,008         11,652
Restructuring charge ......................................            --             --         1,721             --
                                                                 --------       --------      --------       --------
Operating profit ..........................................         3,783          8,992         4,832         20,445
Interest expense ..........................................         3,817          3,737        11,865         10,956
Interest income ...........................................           138             72           558            232
Other expense, net ........................................           303            520           470            413
                                                                 --------       --------      --------       --------
Income (loss) before income taxes and minority interest ...          (199)         4,807        (6,945)         9,308
Minority interest .........................................         1,765          4,044         4,083          9,134
                                                                 --------       --------      --------       --------
Income (loss) before income taxes .........................        (1,964)           763       (11,028)           174
Income tax provision (benefit) ............................            21              2           154            (14)
                                                                 --------       --------      --------       --------
           Net income (loss) ..............................      $ (1,985)      $    761      $(11,182)      $    188
                                                                 ========       ========      ========       ========
</TABLE>

        See the accompanying notes to consolidated financial statements.


                                      -1-



<PAGE>

                    GENERAL CHEMICAL INDUSTRIAL PRODUCTS INC.

                           CONSOLIDATED BALANCE SHEETS
                        (In thousands, except share data)

<TABLE>
<CAPTION>
                               ASSETS

                                                                      December 31,   September 30,
                                                                          2001           2002
                                                                          ----           ----
                                                                                      (unaudited)
<S>                                                                     <C>            <C>
Current assets:
       Cash and cash equivalents .................................      $ 14,182       $ 24,366
       Receivables, net ..........................................        48,961         44,000
       Inventories ...............................................        25,813         28,946
       Deferred income taxes .....................................         6,934          4,963
       Other current assets ......................................         5,485          6,658
                                                                        --------       --------
          Total current assets ...................................       101,375        108,933
Property, plant and equipment, net ...............................       100,365         96,871
Other assets .....................................................        16,881         18,883
                                                                        --------       --------
          Total assets ...........................................      $218,621       $224,687
                                                                        ========       ========

                  LIABILITIES AND EQUITY (DEFICIT)

Current liabilities:
      Accounts payable ...........................................      $ 21,177       $ 23,117
      Accrued liabilities ........................................        30,545         34,122
                                                                        --------       --------
          Total current liabilities ..............................        51,722         57,239
Long-term debt ...................................................       146,487        146,879
Other liabilities ................................................        78,498         79,191
                                                                        --------       --------
          Total liabilities ......................................       276,707        283,687
                                                                        --------       --------
Minority interest ................................................        38,983         38,614
                                                                        --------       --------
Equity (Deficit):
      Common Stock, $.01 par value; authorized 1,000
        shares; issued and outstanding; 1,000 shares at
        December 31, 2001 and September 30, 2002, respectively ...            --             --
      Capital deficit ............................................       (43,523)       (43,503)
      Accumulated other comprehensive income .....................         1,412          1,037
      Retained earnings ..........................................       (54,958)       (54,770)
                                                                        --------       --------
      Total equity (deficit) .....................................       (97,069)       (97,236)
                                                                        --------       --------
          Total liabilities and equity (deficit) .................      $218,621       $224,687
                                                                        ========       ========
</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>
                                                                              Nine Months Ended
                                                                                September 30,
                                                                                -------------
                                                                             2001           2002
                                                                             ----           ----
<S>                                                                        <C>            <C>
Cash flows from operating activities:
       Net income (loss) ............................................      $(11,182)      $    188
       Adjustments to reconcile net income (loss) to net cash
         provided by operating activities:
         Depreciation and amortization ..............................        13,356          9,111
         Decrease in receivables ....................................        12,364          4,961
         Decrease (increase) in inventories .........................           738         (3,133)
         (Decrease) increase in accounts payable ....................        (8,772)         1,940
         (Decrease) increase in accrued liabilities .................        (7,643)         3,577
         Decrease (increase) in other liabilities and assets, net ...         3,914           (659)
         Decrease in minority interest ..............................        (2,515)          (369)
                                                                           --------       --------
             Net cash provided by operating activities ..............           260         15,616
                                                                           --------       --------
Cash flows from investing activities:
       Capital expenditures .........................................        (7,183)        (5,482)
       Disposals of property, plant and equipment ...................           218             --
                                                                           --------       --------
             Net cash used for investing activities .................        (6,965)        (5,482)
Cash flows from financing activities:
       Borrowings under credit facility .............................            --          5,106
       Repayment of credit facility .................................            --         (5,076)
       Capital contribution .........................................        10,000             --
       Other financing activities ...................................           359             20
                                                                           --------       --------
             Net cash provided by financing activities ..............        10,359             50
                                                                           --------       --------
Increase in cash and cash equivalents ...............................         3,654         10,184
Cash and cash equivalents at beginning of period ....................        18,419         14,182
                                                                           --------       --------
Cash and cash equivalents at end of period ..........................      $ 22,073       $ 24,366
                                                                           ========       ========

Supplemental disclosure of cash flow information:
       Cash paid (refunded) during the period for:
         Interest ...................................................      $  8,315       $  7,642
         Taxes ......................................................        (4,294)        (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 and nine months ended September 30, 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 nine
months ended September 30, 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.

      In April 2002, the FASB issued SFAS No. 145, "Rescission of FASB
Statements 4, 44 and 64, Amendment of FASB Statement 13, and Technical
Corrections". SFAS No. 145 rescinds the provisions of SFAS No. 4 that requires
companies to classify certain gains and losses from debt extinguishments as
extraordinary items, eliminates the provisions of SFAS No. 44 regarding
transition to the Motor Carrier Act of 1980 and amends the provisions of SFAS
No. 13 to require that certain lease modifications be treated as sale leaseback
transactions. The provisions of SFAS No. 145 related to classification of debt
extinguishment are effective for fiscal years beginning after May 15, 2002.
Commencing January 1, 2003, the Company will classify debt extinguishment costs
within income from operations. The provisions of SFAS No. 145 related to lease
modifications are effective for transactions occurring after May 15, 2002. The
Company does not expect the provisions of SFAS No. 145 related to lease
modifications to have a material impact on its financial position or results of
operations.

      In June 2002, the FASB issued SFAS No. 146, "Accounting for Costs
Associated with Exit or Disposal Activities". SFAS No. 146 nullifies Emerging
Issues Task Force ("EITF") No. 94-3, "Liability Recognition for Certain Employee
Termination Benefits and Other Costs to Exit an Activity (including Certain
Costs Incurred in a Restructuring)". The principal difference between SFAS No.
146 and EITF No. 94-3 relates to its requirements for recognition of a liability
for a cost associated with an exit or disposal activity. SFAS No. 146 requires
that a liability for a cost associated with an exit or disposal activity be
recognized when the liability is incurred. Under EITF No. 94-3, a liability for
an exit cost was recognized at the date of an entity's commitment to an exit
plan. SFAS No. 146 is effective for exit and disposal activities that are
initiated after December 31, 2002. The Company does not expect the provisions of
SFAS No. 146 to have a material impact on its financial position or results of
operations.

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

Note 2 - Comprehensive Income (Loss)

      Total comprehensive income (loss) is comprised of net income (loss) and
foreign currency translation gains and (losses). Total comprehensive income
(loss) for the three and nine months ended September 30, 2001 and 2002 was
($126) and ($8,798), and $2,614 and ($187), respectively.


                                      -4-



<PAGE>

                    GENERAL CHEMICAL INDUSTRIAL PRODUCTS INC.

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
             For the three and nine months ended September 30, 2002
                             (Dollars in thousands)
                                   (unaudited)

Note 3 - Additional Financial Information

      The components of inventories were as follows:

                                                    December 31,   September 30,
                                                        2001            2002
                                                        ----            ----
                                                                    (unaudited)

            Raw materials ...................         $ 1,302         $ 1,058
            Work in process .................           3,448           4,090
            Finished products ...............          14,110          16,392
            Supplies and containers .........           6,953           7,406
                                                      -------         -------
                                                      $25,813         $28,946
                                                      =======         =======

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 involves 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. Net spending against this accrual was $0.1 million during the nine
months ended September 30, 2002.

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 Company) under which the Company
receives corporate supervisory, management and administrative services and
strategic guidance for a quarterly fee. This management fee was $1,210 and
$1,251 for the nine months ended September 30, 2001 and 2002, respectively.

Agreements with GenTek, Inc.

      In connection with the spin-off of GenTek, Inc. ("GenTek") from the
Company in April 1999, GenTek agreed to provide the Company with certain
management information services and to sublease to the Company the office space
in Parsippany, New Jersey used as its operations headquarters. For the nine
months ended September 30, 2001 and 2002, the Company paid GenTek $1,016 and
$1,034, respectively, for these services and office space.

Other Transactions

      The Company supplies soda ash to GenTek. For the nine months ended
September 30, 2001 and 2002, sales to GenTek amounted to $3,036 and $1,994,
respectively.


                                      -5-



<PAGE>

                    GENERAL CHEMICAL INDUSTRIAL PRODUCTS INC.

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
             For the three and nine months ended September 30, 2002
                             (Dollars in thousands)
                                   (unaudited)

Note 6 - Geographic Information

<Table>
<Caption>
                                    Net Revenues         Operating Profit (Loss)
                                    September 30,             September 30,
                                    -------------             -------------
                                  2001         2002         2001         2002
                                  ----         ----         ----         ----
<S>                            <C>          <C>          <C>          <C>
United States ..............    $173,191     $167,871     $  7,358     $ 21,135
Foreign ....................      78,154       69,493       (2,526)        (690)
Elimination ................     (33,449)     (34,830)          --           --
                                --------     --------     --------     --------
                                $217,896     $202,534     $  4,832     $ 20,445
                                ========     ========     ========     ========
</Table>

      Operating profit for the foreign segment includes additional restructuring
charges of $1,721 recorded in the second quarter of 2001.

Note 7 - Segment Information

      Industry segment information is summarized as follows:

<TABLE>
<CAPTION>
                                                Three Months Ended      Nine Months Ended
                                                   September 30,          September 30,
                                                   -------------          -------------
                                                 2001        2002        2001        2002
                                                 ----        ----        ----        ----
<S>                                            <C>         <C>         <C>         <C>
Net revenues:
     Soda Ash ..............................   $ 57,612    $ 55,746    $171,657    $160,202
     Calcium Chloride ......................     15,589      15,581      46,239      42,332
                                               --------    --------    --------    --------
                  Total Segment ............   $ 73,201    $ 71,327    $217,896    $202,534
                                               ========    ========    ========    ========

Income (loss) before income taxes:
     Soda Ash ..............................   $  2,441    $  4,690    $  1,199    $ 10,935
     Calcium Chloride ......................       (175)        383         972         537
                                               --------    --------    --------    --------
                  Total Segment ............      2,266       5,073       2,171      11,472

Elimination and other corporate expenses ...     (4,230)     (4,310)    (13,199)    (11,298)
                                               --------    --------    --------    --------
                                               $ (1,964)   $    763    $(11,028)   $    174
                                               ========    ========    ========    ========
</TABLE>

      Income (loss) before income taxes for the soda ash segment includes
additional restructuring charges of $1,721 recorded in the second quarter of
2001.

<TABLE>
<S>                                            <C>         <C>         <C>         <C>
Capital Expenditures:
     Soda Ash ..............................   $    829    $    449    $  3,106    $  2,316
     Calcium Chloride ......................      1,680       1,174       3,651       3,129
Elimination and other corporate expenses ...         90           6         426          37
                                               --------    --------    --------    --------
                                               $  2,599    $  1,629    $  7,183    $  5,482
                                               ========    ========    ========    ========
Depreciation & Amortization:
     Soda Ash ..............................   $  3,264    $  2,296    $ 11,515    $  7,195
     Calcium Chloride ......................        292         456         877       1,256
Elimination and other corporate expenses ...        326         221         964         660
                                               --------    --------    --------    --------
                                               $  3,882    $  2,973    $ 13,356    $  9,111
                                               ========    ========    ========    ========
</TABLE>


                                      -6-



<PAGE>

                    GENERAL CHEMICAL INDUSTRIAL PRODUCTS INC.

            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Concluded)
             For the three and nine months ended September 30, 2002
                             (Dollars in thousands)
                                   (unaudited)

Note 8 - Subsequent Events

      The recent decline in the global equity markets has resulted in a decrease
in the value of the assets in our pension plans. This decline will likely
adversely affect our related accounting results in future periods through higher
pension expense, additional minimum liabilities with corresponding reductions in
equity, and increased cash funding requirements. In addition, the Company may
incur higher expense related to our postretirement health plans as a result of
higher health care cost trends.

      The Company currently estimates that it will be required to record a
minimum pension liability of approximately $9.6 million with corresponding
reductions in minority interest of $1.0 million and equity of $8.6 million on
December 31, 2002. In addition, based on the value of the assets in our pension
plans, we will be required to fund approximately $6.0 million to the plans in
fiscal 2003.

      In October 2002, the Company entered into an interest rate swap agreement
with a total notional amount of $8.8 million that qualifies and is designated as
a cash flow hedge in accordance with SFAS 133, "Accounting for Derivative
Instruments and Hedging Activities." The swap agreement matures in April 2004
and was executed in order to convert a portion of the Senior Secured Credit
Facility floating-rate debt into fixed-rate debt, maintain a capital structure
containing appropriate amounts of fixed and floating-rate debt, and reduce net
interest payments and expense in the near-term.

      GenTek provides the Company with management information services, and
subleases to it office space in Parsippany, New Jersey used as its operations
headquarters, pursuant to agreements entered into at the time of GenTek's
spin-off in April 1999. On October 11, 2002, GenTek filed for reorganization
under Chapter 11 of the U.S. Bankruptcy Code. If GenTek becomes unable to meet
its obligations under these agreements, the Company would have to obtain our
management information services and office space from third parties. The Company
is developing a contingency plan in the event GenTek terminates these
agreements. No assurances can be given as to the timely and cost effective
replacement of management information services.

      In October 2002, the Company received U.S. income tax refunds of $4.1
million.

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

September 30, 2002 Compared with December 31, 2001

Financial Condition

      Cash and cash equivalents were $24.4 million at September 30, 2002
compared with $14.2 million at December 31, 2001. During the first nine months
of 2002, the Company provided cash flow from operating activities of $15.6
million and used cash of $5.5 million for capital expenditures.


                                      -7-



<PAGE>

      The Company had working capital of $51.7 million at September 30, 2002 as
compared with $49.7 million at December 31, 2001. The increase in working
capital principally reflects higher cash, inventories and other current assets,
partially offset by lower receivables and deferred tax assets and higher
accounts payable and accrued liabilities.

      The Company is significantly leveraged. At September 30, 2002, outstanding
indebtedness consisted of $100 million of Senior Subordinated Notes and $46.9
million outstanding under the Senior Secured 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 September 30, 2002, although
there can be no assurances as to compliance with these covenants over the next
four quarters. 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.

      The recent decline in the global equity markets has resulted in a decrease
in the value of the assets in our pension plans. This decline will likely
adversely affect our related accounting results in future periods through higher
pension expense, additional minimum liabilities with corresponding reductions in
equity, and increased cash funding requirements. In addition, the Company may
incur higher expense related to our postretirement health plans as a result of
higher health care cost trends.

      The Company currently estimates that it will be required to record a
minimum pension liability of approximately $9.6 million with corresponding
reductions in minority interest of $1.0 million and equity of $8.6 million on
December 31, 2002. In addition, based on the value of the assets in our pension
plans, we will be required to fund approximately $6.0 million to the plans in
fiscal 2003.

      GenTek provides the Company with management information services, and
subleases to it office space in Parsippany, New Jersey used as its operations
headquarters, pursuant to agreements entered into at the time of GenTek's
spin-off in April 1999. On October 11, 2002, GenTek filed for reorganization
under Chapter 11 of the U.S. Bankruptcy Code. If GenTek becomes unable to meet
its obligations under these agreements, the Company would have to obtain our
management information services and office space from third parties. The Company
is developing a contingency plan in the event GenTek terminates these
agreements. No assurances can be given as to the timely and cost effective
replacement of management information services.

      In October 2002, the Company received U.S. income tax refunds of $4.1
million.

Results of Operations

September 30, 2002 Compared with September 30, 2001

      Net revenues for the three and nine month periods ended September 30, 2002
decreased 2.6 percent and 7.1 percent to $71.3 million and $202.5 million,
respectively, from $73.2 million and $217.9 million for the comparable prior
year periods. 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 September 30, 2002 increased
$5.2 million to $12.9 million from $7.7 million for the comparable prior year
period. Gross profit as a percentage of net revenues for the three month period
ended September 30, 2002 increased to 18.1 percent from 10.5 percent for the
same period in 2001. Gross profit


                                      -8-



<PAGE>

for the nine month period ended September 30, 2002 increased $13.5 million to
$32.1 million from $18.6 million for the comparable prior year period. Gross
profit as a percentage of net revenues for the nine month period ended September
30, 2002 increased to 15.9 percent from 8.5 percent for the same period in 2001.
These increases were primarily due to lower operating costs resulting from the
April 2001 idling of the Company's Amherstburg synthetic soda ash facility,
lower depreciation expense, lower energy costs and higher domestic soda ash
prices, partially offset by lower calcium chloride volumes, and higher calcium
chloride feedstock costs. In addition, the prior year includes costs incurred to
start up operations at the Company's Manistee, Michigan calcium chloride
facility.

      Selling, general and administrative expense as a percentage of net
revenues for the three and nine month period ended September 30, 2002 and 2001
increased to 5.5 percent from 5.3 percent and to 5.8 percent from 5.5 percent.

      In the second quarter of 2001, the Company recorded a restructuring charge
of $1.7 million for revised actuarial estimates of employee termination
benefits.

      Interest expense for the three and nine month period ended September 30,
2002 was $3.7 million and $11.0 million, which was $0.1 million and $0.9 million
lower, respectively, than the comparable prior period. The decrease is a result
of lower credit facility borrowing rates and amendment fees expensed in the
comparable prior year partially offset by an increase in borrowings under the
credit facility.

      Minority interest for the three and nine month periods ended September 30,
2002 was $4.0 million and $9.1 million, respectively, versus $1.8 million and
$4.1 million for the same period in 2001. The increases in both periods reflect
higher earnings at General Chemical (Soda Ash) Partners primarily due to higher
domestic soda ash prices and lower energy costs.

      Net income was $0.8 million and $0.2 million for the three and nine month
periods ended September 30, 2002, respectively, versus net loss of ($2.0)
million and ($11.2) million for the comparable prior year periods, for the
foregoing reasons.

Accounting Pronouncements

      In April 2002, the FASB issued SFAS No. 145, "Rescission of FASB
Statements 4, 44 and 64, Amendment of FASB Statement 13, and Technical
Corrections". SFAS No. 145 rescinds the provisions of SFAS No. 4 that requires
companies to classify certain gains and losses from debt extinguishments as
extraordinary items, eliminates the provisions of SFAS No. 44 regarding
transition to the Motor Carrier Act of 1980 and amends the provisions of SFAS
No. 13 to require that certain lease modifications be treated as sale leaseback
transactions. The provisions of SFAS No. 145 related to classification of debt
extinguishment are effective for fiscal years beginning after May 15, 2002.
Commencing January 1, 2003, the Company will classify debt extinguishment costs
within income from operations. The provisions of SFAS No. 145 related to lease
modifications are effective for transactions occurring after May 15, 2002. The
Company does not expect the provisions of SFAS No. 145 related to lease
modifications to have a material impact on its financial position or results of
operations.

      In June 2002, the FASB issued SFAS No. 146, "Accounting for Costs
Associated with Exit or Disposal Activities". SFAS No. 146 nullifies Emerging
Issues Task Force ("EITF") No. 94-3, "Liability Recognition for Certain Employee
Termination Benefits and Other Costs to Exit an Activity (including Certain
Costs Incurred in a Restructuring)". The principal difference between SFAS No.
146 and EITF No. 94-3 relates to its requirements for recognition of a liability
for a cost associated with an exit or disposal activity. SFAS No. 146 requires
that a liability for a cost associated with an exit or disposal activity be
recognized when the liability is incurred. Under EITF No. 94-3, a liability for
an exit cost was recognized at the date of an entity's commitment to an exit
plan. SFAS No. 146 is effective for exit and disposal activities that are
initiated after December 31, 2002. The Company does not expect the provisions of
SFAS No. 146 to have a material impact on its financial position or results of
operations.


                                      -9-



<PAGE>

Item 3. Qualitative and Quantitative Disclosures about Market Risk

      Market risk represents the risk of 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 fixed interest rate under the $100
million Senior Subordinated Notes as of September 30, 2002.

      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
September 30, 2002 the Company had $46.9 million in borrowings under the Senior
Secured Credit Facility. Accordingly, a one percent change in the floating rate
will result in interest expense fluctuating annually by approximately $0.5
million.

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

      In October 2002, the Company entered into an interest rate swap agreement
with a total notional amount of $8.8 million that qualifies and is designated as
a cash flow hedge in accordance with SFAS 133, "Accounting for Derivative
Instruments and Hedging Activities." The swap agreement matures in April 2004
and was executed in order to convert a portion of the Senior Secured Credit
Facility floating-rate debt into fixed-rate debt, maintain a capital structure
containing appropriate amounts of fixed and floating-rate debt; and reduce net
interest payments and expense in the near-term.

Item 4. Controls and Procedures

      Within the 90 days prior to the date of this report, the Company carried
out an evaluation, under the supervision and with the participation of the
Company's management, including the Company's Chief Executive Officer and Chief
Financial Officer, of the effectiveness of the design and operation of the
Company's disclosure controls and procedures pursuant to Exchange Act Rule
13a-14. Based upon that evaluation, the Company's Chief Executive Officer and
Chief Financial Officer concluded that the Company's disclosure controls and
procedures are effective in timely alerting them to material information
relating to the Company (including its consolidated subsidiaries) required to be
included in the Company's periodic SEC filings. There have been no significant
changes in the Company's internal controls or in other factors that could
significantly affect internal controls subsequent to the date of their
evaluation.

                           Part II. Other Information

Item 6. Exhibits and Reports on Form 8-K

(a)   Exhibits:

      None

(b)   Reports on Form 8-K:

      None


                                      -10-



<PAGE>

                                   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  November 14, 2002         /s/ DeLyle W. BLoomquist
      ---------------------         --------------------------------------------
                                    DeLyle W. Bloomquist
                                    President and Chief Executive Officer
                                    (Principal Executive Officer) and Director


Date  November 14, 2002         /s/ David S. Graziosi
      ---------------------         --------------------------------------------
                                    David S. Graziosi
                                    Vice President and Chief Financial Officer
                                    (Principal Financial and Accounting Officer)


                                      -11-



<PAGE>

                                  CERTIFICATION

I, David S. Graziosi, certify that:

1.    I have reviewed this quarterly report on Form 10-Q of General Chemical
      Industrial Products Inc.;

2.    Based on my knowledge, this quarterly report does not contain any untrue
      statement of a material fact or omit to state a material fact necessary to
      make the statements made, in light of the circumstances under which such
      statements were made, not misleading with respect to the period covered by
      this quarterly report.

3.    Based on my knowledge, the financial statements, and other financial
      information included in this quarterly report, fairly present in all
      material respects the financial condition, results of operations and cash
      flows of the registrant as of, and for, the periods presented in this
      quarterly report.

4.    The registrant's other certifying officer and I are responsible for
      establishing and maintaining disclosure controls and procedures (as
      defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we
      have:

      a)    designed such disclosure controls and procedures to ensure that
            material information relating to the registrant, including its
            consolidated subsidiaries, is made known to us by others within
            those entities, particularly during the period in which this
            quarterly report is being prepared;

      b)    evaluated the effectiveness of the registrant's disclosure controls
            and procedures as of a date within 90 days prior to the filing date
            of this quarterly report (the "Evaluation Date"); and

      c)    presented in this quarterly report our conclusions about the
            effectiveness of the disclosure controls and procedures based on our
            evaluation as of the Evaluation Date.

5.    The registrant's other certifying officer and I have disclosed, based on
      our most recent evaluation, to the registrant's auditors and the audit
      committee of the registrant's board of directors (or persons performing
      the equivalent function):

      a)    all significant deficiencies in the design or operation of internal
            controls which could adversely affect the registrant's ability to
            record, process, summarize and report financial data and have
            identified for the registrant's auditors any material weaknesses in
            internal controls; and

      b)    any fraud, whether or not material, that involves management or
            other employees who have a significant role in the registrant's
            internal controls; and

6.    The registrant's other certifying officer and I have indicated in this
      quarterly report whether or not there were significant changes in internal
      controls or in other factors that could significantly affect internal
      controls subsequent to the date of our most recent evaluation, including
      any corrective actions with regard to significant deficiencies an material
      weaknesses.


Date:  November 14, 2002

By:    /s/  David S. Graziosi
            -----------------
Name:       David S. Graziosi
Title:      Vice President and Chief Financial Officer


                                      -12-



<PAGE>

                                  CERTIFICATION

I, DeLyle W. Bloomquist, certify that:

1.    I have reviewed this quarterly report on Form 10-Q of General Chemical
      Industrial Products Inc.;

2.    Based on my knowledge, this quarterly report does not contain any untrue
      statement of a material fact or omit to state a material fact necessary to
      make the statements made, in light of the circumstances under which such
      statements were made, not misleading with respect to the period covered by
      this quarterly report.

3.    Based on my knowledge, the financial statements, and other financial
      information included in this quarterly report, fairly present in all
      material respects the financial condition, results of operations and cash
      flows of the registrant as of, and for, the periods presented in this
      quarterly report.

4.    The registrant's other certifying officers and I are responsible for
      establishing and maintaining disclosure controls and procedures (as
      defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we
      have:

      a)    designed such disclosure controls and procedures to ensure that
            material information relating to the registrant, including its
            consolidated subsidiaries, is made known to us by others within
            those entities, particularly during the period in which this
            quarterly report is being prepared;

      b)    evaluated the effectiveness of the registrant's disclosure controls
            and procedures as of a date within 90 days prior to the filing date
            of this quarterly report (the "Evaluation Date"); and

      c)    presented in this quarterly report our conclusions about the
            effectiveness of the disclosure controls and procedures based on our
            evaluation as of the Evaluation Date.

5.    The registrant's other certifying officers and I have disclosed, based on
      our most recent evaluation, to the registrant's auditors and the audit
      committee of registrant's board of directors (or persons performing the
      equivalent function):

      a)    all significant deficiencies in the design or operation of internal
            controls which could adversely affect the registrant's ability to
            record, process, summarize and report financial data and have
            identified for the registrant's auditors any material weaknesses in
            internal controls; and

      b)    any fraud, whether or not material, that involves management or
            other employees who have a significant role in the registrant's
            internal controls; and

6.    The registrant's other certifying officers and I have indicated in this
      quarterly report whether or not there were significant changes in internal
      controls or in other factors that could significantly affect internal
      controls subsequent to the date of our most recent evaluation, including
      any corrective actions with regard to significant deficiencies an material
      weaknesses.


Date:  November 14, 2002

By:    /s/  DeLyle W. Bloomquist
            --------------------
Name:       DeLyle W. Bloomquist
Title:      President and Chief Executive Officer


                                      -13-


                          STATEMENT OF DIFFERENCES
                          ------------------------

 The section symbol shall be expressed as............................... 'SS'