Exhibit 12.1

BORDEN CHEMICAL, INC.

Statement regarding Computation of Ratios

(Amounts in thousands of dollars)

	Year ended December 31,									Nine months ended September 30,
	1999		2000		2001		2002		2003	2003		2004
Pre-tax income (loss) from continuing operations	58,665		(84,660	)	(167,437	)	(9,020	)	18,317	26,527		(35,116	)
Add back (deduct):
Minority interest expense (income)	(272	)	(418	)	(184	)	900		163	(85	)	742
Loss (gain) from equity investees	(3,160	)	1,536		1,452		—		—	—		—
Fixed charges	93,367		91,264		72,664		53,972		51,561	38,219		45,547
Earnings	148,600		7,722		(93,505	)	45,852		70,041	64,661		11,173
Fixed charges are composed of:
Interest expense	63,059		62,654		51,613		47,315		46,138	34,114		42,563
Affiliated interest expense	23,130		20,963		14,529		1,857		558	456		138
Interest element of lease costs (a)	7,178		7,647		6,522		4,800		4,865	3,649		2,846
Total fixed charges	93,367		91,264		72,664		53,972		51,561	38,219		45,547
Ratio of earnings to fixed charges	1.6			(b)		(b)		(b)	1.4	1.7			(b)

(a) The interest element of lease costs has been calculated as 1/3 of the rental expense relating to operating leases as management believes this represents the interest portion hereof.

(b) For the years ended December 31, 2000, 2001 and 2002, fixed charges exceeded earnings by $83,542, $166,169 and $8,120, respectively. For the nine months ended September 30, 2004, fixed charges exceeded earnings by $34,374.