GENCORP INC., USA

(www.gencorp.com)

Ajay Poly entered into an agreement with GenCorp Inc., a world renowned 'Fortune 1000' company based in USA, for joint efforts into development of Innovative Sealing Solutions for the refrigeration industry for a period starting 1st Jan., 1996 through 25th May, 2000. GenCorp is a leader in sealing systems for Home Appliances and Automobiles in North America and Europe. In addition to Sealing Systems, they have a wide range of activities in the fields of Aerospace & Defence (Aerojet, Custom Chemicals, Propulsion Systems), Polymer Products as well as Decorative Films, Coated Fabrics & Building Systems.