Thermatrix Inc., develops, manufactures and sells industrial process equipment for the destruction of hazardous air pollutants and volatile organic compounds. The core component of the company's technology, Flameless thermal oxidizer system provides economic and environmental advantages which minimizes the cost factor and provides product safety. This system is applicable to a wide range of volatile organic compounds like chlorinated, sulfonated and fluorinated compounds. The company discontinued the United Kingdom operation in the last quarter of 1999. In the first quarter of 1999, the company acquired Wahlco Environmental Systems, Inc. that designs, manufactures and sells combined cycle gas turbine products, metallic and fabric bellows. In the second quarter of 1999, the company acquired the assets of Ferguson International, Inc. that supplies ammonia storage and handling systems. In the third quarter of 1999, the company acquired the assets of Genflex which was discontinued later. The company's major customers are Chevron Chesebrough-Pond's USA Co, Formosa Petrochemical Corporation, Mobil Chemical Company, Bayer Corporation, Zeneca Ltd, Warner-Lambert and many others. At the end of the fourth quarter the company filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code and since then is operating as a debtor-in-possession. The company's export revenues accounted for 19% of total revenues of 1999.