SCHEDULE 14A
(RULE 14A-101)

INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION

PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES
EXCHANGE ACT OF 1934 (AMENDMENT NO. )

Filed by the registrant [X]

Filed by a party other than the registrant [ ]

Check the appropriate box:

[ ] Preliminary proxy statement. [ ] Confidential, for use of the
Commission only (as permitted by
Rule 14a-6(e)(2).

[X] Definitive proxy statement.

[ ] Definitive additional materials.

[ ] Soliciting material pursuant to Rule 14a-11(c) or Rule 14a-12.

Detrex Corporation
- --------------------------------------------------------------------------------
(Name of Registrant as Specified in Its Charter)

- --------------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement if Other Than the Registrant)

Payment of filing fee (check the appropriate box):

[X] No fee required.

[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and
0-11.

(1) Title of each class of securities to which transaction applies:

- --------------------------------------------------------------------------------

(2) Aggregate number of securities to which transaction applies:

- --------------------------------------------------------------------------------

(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
filing fee is calculated and state how it was determined):

- --------------------------------------------------------------------------------

(4) Proposed maximum aggregate value of transaction:

- --------------------------------------------------------------------------------

(5) Total fee paid:

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[ ] Fee paid previously with preliminary materials.
- --------------------------------------------------------------------------------

[ ] Check box if any part of the fee is offset as provided by Exchange Act
Rule 0-11(a)(2) and identify the filing for which the offsetting fee
was paid previously. Identify the previous filing by registration
statement number, or the form or schedule and the date of its filing.

(1) Amount Previously Paid:

- --------------------------------------------------------------------------------

(2) Form, Schedule or Registration Statement No.:

- --------------------------------------------------------------------------------

(3) Filing Party:

- --------------------------------------------------------------------------------

(4) Date Filed:

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DETREX CORPORATION
24901 NORTHWESTERN HIGHWAY
SUITE 500
SOUTHFIELD, MICHIGAN 48075

NOTICE OF ANNUAL MEETING OF SHAREHOLDERS

APRIL 26, 2001

PLEASE TAKE NOTICE that the annual meeting of shareholders of DETREX
CORPORATION will be held on Thursday, the 26th day of April, 2001, at 11:00
a.m., local time, at The Westin Hotel, 1500 Town Center, Southfield, Michigan,
for the purposes of considering and acting upon the following:

(1) The election of two Directors of the Third Class; and

(2) The transaction of such other business as may properly come before the
meeting and any adjournments or postponements of the meeting.

The Board of Directors knows of no other business which will be presented
to the shareholders at this meeting.

The Board of Directors has fixed March 2, 2001 as the record date for the
determination of the shareholders entitled to receive notice of and to vote at
the annual meeting of shareholders and any adjournments or postponements of the
meeting.

It is important that proxies be returned promptly. Therefore, shareholders
who do not expect to attend the meeting in person are requested to vote, sign,
date and return the enclosed proxy, which is solicited by the Board of
Directors, in the enclosed prepaid envelope.

By Order of the Board of Directors

ROBERT M. CURRIE
Secretary

Dated: March 23, 2001
3

DETREX CORPORATION
24901 NORTHWESTERN HIGHWAY
SUITE 500
SOUTHFIELD, MICHIGAN 48075

PROXY STATEMENT
ANNUAL MEETING OF SHAREHOLDERS

The Board of Directors of DETREX CORPORATION (the "Corporation" or
"Detrex") requests all shareholders who do not expect to be present at the
annual meeting to be held April 26, 2001 (the "Annual Meeting"), and who wish
their stock to be voted upon the business to be transacted there, to vote, sign,
date and return the enclosed form of proxy. At any time before it is voted, each
granted proxy may be revoked by the shareholder by a later-dated proxy, by
written revocation addressed to the Secretary of the Corporation at the address
listed below, or by voting by ballot at the Annual Meeting. The cost of
solicitation is being borne by the Corporation. This solicitation is made by and
on behalf of the Board of Directors of the Corporation. Proxies received by the
Board of Directors from shareholders will be voted at the Annual Meeting in the
manner specified or, if not specified, as determined by the proxies. It is
anticipated that this Proxy Statement and the enclosed proxy will be mailed to
the shareholders of the Corporation on or about March 23, 2001. The
Corporation's principal offices are located at 24901 Northwestern Highway, Suite
500, Southfield, Michigan 48075.

Only shareholders of record at the close of business on March 2, 2001 are
entitled to vote at the Annual Meeting. As of that date, there were 1,583,414
shares of common stock, $2 par value per share ("Common Stock"), outstanding and
entitled to vote. They were the only outstanding shares of the Corporation.
Every holder of outstanding shares of Common Stock entitled to be voted at the
Annual Meeting is entitled to one vote for each share held.

Presence in person or by proxy of holders of a majority of the outstanding
shares of Common Stock will constitute a quorum at the Annual Meeting. Assuming
a quorum is present, Directors are elected by a plurality vote of all votes
cast. In accordance with applicable law, abstentions and broker non-votes will
not have the effect of votes in opposition to a Director nominee.

1
4

ELECTION OF DIRECTORS

The Articles of Incorporation of the Corporation provide for the
classification of Directors into three classes as nearly equal in number as
possible, with three-year terms expiring on successive annual meeting dates. The
Corporation's By-Laws currently provide that the Board of Directors shall
consist of not less than eight nor more than twelve persons as shall be fixed
from time to time by the Board.

At the Annual Meeting, two Directors of the Third Class will be elected to
serve for a term of three years or until their successors have been elected and
have qualified. The terms of the three present Directors of the Third Class,
Bruce W. Cox, Thomas E. Mark and John D. Withrow, expire at the Annual Meeting.
Mr. Withrow has stated that he does not wish to stand for re-election as a
Director of the Company. Messrs. Cox and Mark have served as Directors of Detrex
since 1968 and 1996, respectively.

It is the intention of the persons named in the accompanying form of proxy
to vote such proxies for the nominees named below. The Board of Directors has no
reason to believe that any nominee will be unable to serve. In the event that
any nominee should not be available, the persons named in the proxy will vote
for the election of such substitute nominee as may be selected by the Board of
Directors of the Corporation.

NOMINEES for Directors of the Third Class:

Bruce W. Cox
Thomas E. Mark

THE BOARD OF DIRECTORS RECOMMENDS A VOTE FOR THE ELECTION OF THE NOMINEES
LISTED ABOVE AS DIRECTORS OF THE THIRD CLASS.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following table sets forth, as of March 2, 2001, the amount of Common
Stock beneficially owned by each Director and nominee for Director, each
Executive Officer named in the Summary Compensation Table, all Directors,
nominees for Director and Executive Officers as a group, and certain other
beneficial owners:

TOTAL SHARES PERCENT OF
NAME BENEFICIALLY OWNED(1) CLASS
---- --------------------- ----------

Bruce W. Cox................................................ 69,290(2) 4.4%
Robert M. Currie............................................ 9,000(2) *
Robert A. Emmett, III....................................... 48,012(2)(3)(4) 3.0%
Gerald J. Israel............................................ 14,000(2) *
William C. King............................................. 21,500(2)(5) 1.3%
John F. Mangold............................................. 7,600(2) *
Thomas E. Mark.............................................. 90,660(2)(6) 5.5%
Benjamin W. McCleary........................................ 8,500(2) *
Arbie R. Thalacker.......................................... 36,500(2)(3) 2.3%
John D. Withrow............................................. 8,000(2) *
David R. Zimmer............................................. 3,500(7) *
All Executive Officers, Directors and Nominees for Director
as a Group................................................ 316,562(2) 17.9%

2
5

TOTAL SHARES PERCENT OF
NAME BENEFICIALLY OWNED(1) CLASS
---- --------------------- ----------

Dimensional Fund Advisors Inc............................... 83,050(8) 5.2%
1299 Ocean Avenue, 11th Floor
Santa Monica, California 90401
Rivlin Family Partnership................................... 114,600(9) 7.2%
1404 Blackheath
Riverwoods, Illinois 60015
Summit Capital Management, LLC.............................. 189,170(10) 11.9%
601 Union Street, Suite 3900
Seattle, Washington 98101
W.R. Investments............................................ 138,300(11) 8.7%
P.O. Box 905
Morristown, New Jersey 07963-0905

- -------------------------
* Represents less than 1% of Class

(1) Ownership is direct with sole voting power and sole investment power unless
otherwise indicated by footnote.

(2) Totals include shares underlying options exercisable within 60 days of
March 2, 2001, as follows: Messrs. Cox, Emmett, Mangold, McCleary,
Thalacker and Withrow, 7,000 shares each; Mr. Currie, 9,000 shares; Mr.
Israel, 14,000 shares; Mr. King, 16,000 shares; and Mr. Mark, 78,000
shares.

(3) Messrs. Emmett and Thalacker are first cousins.

(4) Included in the shares reported for Mr. Emmett are 1,000 shares owned
jointly with his wife, 15,247 shares owned by his wife, 100 shares owned by
his son, and 2,372 shares held by Mr. Emmett as trustee.

(5) Included in the shares reported for Mr. King are 1,500 shares held by Mr.
King as trustee and 4,000 shares held by his wife as trustee of her trust.

(6) Included in the shares reported for Mr. Mark are 4,500 shares owned by his
wife.

(7) All 3,500 shares reported for Mr. Zimmer are owned jointly with his wife.

(8) This information is based on Schedule 13G dated February 2, 2001, filed by
Dimensional Fund Advisors Inc. ("Dimensional") in which Dimensional
indicated it had sole voting power and sole dispositive power with respect
to 83,050 shares.

(9) This information is based on Schedule 13D dated January 15, 1998, filed by
the Rivlin Family Partnership ("Rivlin") in which Rivlin indicated it had
sole voting power and sole dispositive power with respect to 67,800 shares.
The aggregate number of shares reported as beneficially owned by Rivlin
includes 46,800 shares owned by other individuals.

(10) This information is based on Schedule 13G dated February 20, 2001, filed
jointly by Summit Capital Management, LLC ("SCM"), Summit Capital Partners,
LP, and John C. Rudolf, individually ("Rudolf"), in which SCM and Rudolf
indicated they had shared voting power and shared dispositive power with
respect to 189,170 shares.

(11) This information is based on a letter dated February 19, 2001, sent to the
Company by WR Investment Partners Small Cap Corp. ("WRI"), in which WRI
indicated that it was the beneficial owner of 138,300 shares as of December
31, 2000.

3
6

INFORMATION CONCERNING DIRECTORS AND NOMINEES

The following information is furnished with respect to each person
nominated for election as a Director and each other person whose term of office
as a Director will continue after the Annual Meeting:

DIRECTOR
NAME AGE SINCE PRINCIPAL OCCUPATION DURING LAST 5 YEARS
---- --- -------- ----------------------------------------

NOMINEES FOR DIRECTORS OF THE THIRD CLASS
WHOSE TERMS OF OFFICE WILL EXPIRE IN 2004
BRUCE W. COX................ 72 1968 President of B. W. Cox Company, manufacturer's
representative, North Canton, Ohio.
THOMAS E. MARK.............. 48 1996 President and Chief Operating Officer of the
Corporation.
DIRECTORS OF THE SECOND CLASS
WHOSE TERMS OF OFFICE WILL EXPIRE IN 2003
ROBERT A. EMMETT, III....... 57 1984 Attorney/Consultant; Deputy General Counsel for
Environment and Nuclear Programs, U.S. Department of
Energy, June 1999 to January 2001; Partner, Reed
Smith Shaw & McClay, attorneys, Washington, D.C.,
from January 1978 to June 1999.
BENJAMIN W. MCCLEARY........ 56 1990 Member, McFarland Dewey & Co., LLC, investment
bankers, New York, New York.
ARBIE R. THALACKER.......... 65 1980 Of Counsel, Shearman & Sterling, attorneys, New York,
New York; Partner, Shearman & Sterling, attorneys,
New York, New York, 1968-2000; Chairman of the Board
of the Corporation from April 1993 to January 1996.
DIRECTORS OF THE FIRST CLASS
WHOSE TERMS OF OFFICE WILL EXPIRE IN 2002
WILLIAM C. KING............. 56 1995 Chairman of the Board and Chief Executive Officer of
the Corporation since January 1996; President and
Chief Executive Officer of the Corporation from April
1995 to January 1996.
JOHN F. MANGOLD............. 74 1993 Independent consultant.
DAVID R. ZIMMER............. 54 1999 Chief Executive Officer of Twitchell Corporation
since September, 2000; Executive Vice President of
United Dominion Industries, Inc. from September 1997
to December 1998; President and CEO of Core
Industries Inc from March 1992 to August 1997.

The Corporation may not have knowledge of all of the information provided
above regarding securities ownership, business interests and other events and
transactions of the Directors, nominees and others listed above. To the extent
that the Corporation does not have actual knowledge of such information, such
information has been furnished by such persons.

CERTAIN BUSINESS RELATIONSHIPS

Mr. Arbie R. Thalacker, a Director of the Corporation, is of counsel to the
firm of Shearman & Sterling, attorneys, New York, New York. Shearman & Sterling
rendered legal services to the Corporation during 2000 and it is anticipated
that the firm will render legal services to the Corporation during 2001.

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7

MEETINGS AND COMMITTEES OF THE BOARD OF DIRECTORS

The Board of Directors of the Corporation has an Audit Committee of
non-employee Directors. Its members are David R. Zimmer (chairman), John F.
Mangold and Arbie R. Thalacker, each of whom is an independent director as
defined in the listing standards of the National Association of Securities
Dealers. The Audit Committee held four meetings during the last fiscal year. The
Audit Committee, as the representative of the Board of Directors, meets with the
independent auditors of the Corporation to review the manner of the auditing of
the Corporation's accounts. The Audit Committee reviews with the auditors the
methods of accounting, the internal accounting controls and procedures and the
reports submitted by the auditors. The Audit Committee reviews the audit scope
and the estimated audit fee. The Audit Committee also proposes to the Board of
Directors the selection of the Corporation's independent public accountants.
(For a more detailed discussion of the functions of the Audit Committee, see
Report of the Audit Committee of the Board of Directors and the Charter included
as Appendix A.)

The Board of Directors also has a Compensation Committee of non-employee
Directors. Its members are Benjamin W. McCleary (chairman), Bruce W. Cox and
John D. Withrow. The Compensation Committee held three meetings during the last
fiscal year. The committee reviews and recommends to the Board of Directors the
salaries and other compensation of all Officers and senior management of the
Corporation. The committee also administers and grants options under the 1993
Stock Option Plan.

The Board of Directors also has a Finance Committee. Its members are
Benjamin W. McCleary (chairman), William C. King, Thomas E. Mark and Arbie R.
Thalacker. The Finance Committee held no meetings during the last fiscal year.
The primary function of the Finance Committee is to review and approve the
Corporation's financing arrangements.

The Board of Directors does not have a Nominating Committee.

During the fiscal year ended December 31, 2000, the Board of Directors held
eight regular meetings and one special meeting. Each incumbent Director attended
at least 75% of the aggregate of all meetings of the Board of Directors and all
meetings held by all committees of the Board on which he served.

5
8

REPORT OF THE COMPENSATION COMMITTEE
OF THE BOARD OF DIRECTORS

The Compensation Committee of the Board of Directors (the "Committee")
consists of three members of the Board, none of whom is a present or former
officer or employee of the Corporation. The Committee is responsible for
reviewing and making recommendations to the Board of Directors with respect to
compensation paid to all officers of the Corporation (the "Officers"). In
addition, the Committee has been charged with the responsibility of
administering and granting options under the 1993 Stock Option Plan. During
2000, the Committee reviewed the Chief Executive Officer's assessments of each
Officer's performance. The Chief Executive Officer recommended to the Committee
that the base compensation for each Officer for 2001 be increased to remain
competitive with other local employers. The Committee concurred with this
recommendation and recommended to the Board of Directors that each Officer's
base compensation be increased by 3%. In 2000, the Committee continued a
Variable Compensation Plan ("VCP") first implemented in 1996. The VCP would pay
a cash bonus to an executive, depending on the financial performance of the
Corporation and its divisions. The bonus opportunity for the year ending
December 31, 2000 ranged from 10% to 40% of salary and, in the case of Mr. Mark,
40% to 60%. No bonus would be paid if the financial results were below 80% of
the 2000 budget and the maximum would be paid if the financial results were at
120% of the 2000 budget. Corporate Officers' bonuses would be based entirely on
the performance of the Corporation. Managers with divisional responsibilities
would have 50% of their bonus dependent on the division's performance and 50% on
corporate performance.

CHIEF EXECUTIVE OFFICER COMPENSATION

Mr. King currently serves as Chairman and Chief Executive Officer. Mr. King
receives a base salary of $110,000 per year for spending approximately 25% of
his normal working days on Corporation matters, plus performance based
compensation and stock options appropriate to his contribution. Mr. King's VCP
bonus is shown in the Summary Compensation Table. In light of Mr. King's
contribution to the Corporation during 2000, the Committee recommended to the
Board that his base salary for 2001 be increased to $120,000 and the Board of
Directors approved the Committee's recommendation.

Benjamin W. McCleary, Chairman
Bruce W. Cox
John D. Withrow
Members of the Compensation Committee

6
9

AUDIT COMMITTEE

The Corporation's Board of Directors has adopted a written charter for its
Audit Committee. The Charter is included as Appendix A to this Proxy Statement.

REPORT OF THE AUDIT COMMITTEE
OF THE BOARD OF DIRECTORS

We have reviewed and discussed with management and Deloitte & Touche LLP,
the Corporation's independent auditors, the Corporation's audited financial
statements as of and for the year ended December 21, 2000. We have discussed
with Deloitte & Touche LLP the matters required to be discussed by Statement on
Auditing Standards No. 61, Communication with Audit Committees, as amended, by
the Auditing Standards Board of the American Institute of Certified Public
Accountants. We have received and reviewed the written disclosures and the
letter from Deloitte & Touche LLP required by Independence Standard No. 1,
Independence Discussions with Audit Committees, as amended, by the Independence
Standards Board, and have discussed with the auditors the auditors'
independence. Based on the reviews and discussions referred to above, we
recommended to the Board of Directors that the financial statements referred to
above be included in the Corporation's Annual Report on Form 10-K for the year
ended December 31, 2000. We have also considered whether the provision of
services by Deloitte & Touche LLP not related to the audit of the financial
statements referred to above and to the reviews of the interim financial
statements included in the Corporation's Forms 10-Q for the quarters ended March
31, 2000, June 30, 2000 and September 30, 2000 is compatible with maintaining
the independence of Deloitte & Touche LLP.

David R. Zimmer, Chairman
John F. Mangold
Arbie R. Thalacker

The information presented with regard to the Corporation's Audit Committee,
the above Report of the Audit Committee, and the Charter included as Appendix A
shall not be deemed to be incorporated by reference in any previous or future
documents filed by the Corporation with the Securities and Exchange Commission
under the Securities Act of 1933 or the Securities Exchange Act of 1934, except
to the extent that the Corporation specifically incorporates such information by
reference in any such document.

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10

EXECUTIVE COMPENSATION
AND OTHER TRANSACTIONS

SUMMARY COMPENSATION TABLE

The following table sets forth the total compensation earned in each of the
last three years by the Corporation's Chief Executive Officer and the other most
highly compensated Executive Officers who earned more than $100,000 in total
annual salary and bonus:

LONG TERM COMPENSATION
-----------------------------------
AWARDS PAYOUTS
-------------------- ------------
ANNUAL COMPENSATION LONG
-------------------------------- RESTRICTED TERM
SALARY BONUS OTHER STOCK OPTIONS INCENTIVE ALL
NAME AND PRINCIPAL POSITION YEAR ($) ($) ($) (#) PLAN COMPENSATION OTHER
- --------------------------- ---- ------ ----- ----- ---------- ------- ------------ -----

W.C. King................. 2000 134,604 47,111
Chairman and CEO 1999 138,204
1998 122,971 3,000(1)
T.E. Mark................. 2000 272,012 149,607
President and COO 1999 257,426
1998 266,946 3,000(1)
G.J. Israel............... 2000 164,300 57,505
Vice President-Finance, 1999 155,000
Treasurer and CFO 1998 160,731 3,000(1)
R.M. Currie............... 2000 149,036 52,163
General Counsel 1999 140,600
and Secretary 1998 145,799 3,000(1)

- -------------------------
(1) On February 26, 1998, Messrs. King, Mark, Israel and Currie were each
awarded options to purchase 3,000 shares of Common Stock at a price of
$13.38 per share. For each individual, options to purchase 1,000 shares
became exercisable as of February 26, 1999, February 26, 2000 and February
26, 2001. The options held by Messrs. King, Mark and Currie expire on
February 26, 2004. The options held by Mr. Israel, who will be retiring on
March 31, 2001, will expire on March 31, 2003.

The Corporation has a defined benefit plan (the "Retirement Plan") which is
qualified under the Internal Revenue Code. The participants are all salaried and
all non-union employees of the Corporation. Benefits are, in general, based upon
annual salary and length of service. The amount of the Corporation's annual
contribution to the Retirement Plan is determined for the total of all
participants covered by the Retirement Plan, and the amount of payment in
respect of a specified person is not and cannot readily be separated or
individually calculated by the regular actuaries for the Retirement Plan. Of the
current annual salaries reported in the Summary Compensation Table above for all
participants, approximately 86% is covered for purposes of the Retirement Plan.
The table below illustrates the amount of annual pension benefits payable to a
person in specified average annual compensation and years of service
classifications, assuming retirement in 2001.

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11

BENEFIT EXAMPLES -- ANNUAL BENEFIT AT AGE 65 IN 2001(1)(2)

YEARS OF SERVICE
AVERAGE ANNUAL -------------------------------------------
COMPENSATION 5 YEARS 10 YEARS 20 YEARS 30 YEARS
-------------- ------- -------- -------- --------

$75,000................................................. 4,253 8,505 17,010 25,515
$100,000................................................ 6,118 12,235 24,470 36,706
$125,000................................................ 7,993 15,985 31,970 47,956
$160,000................................................ 10,618 21,235 42,470 63,706
$220,000(3)............................................. 10,918 21,835 43,670 65,506

- -------------------------
(1) Based on the Social Security law in effect on January 1, 2001 and the
Retirement Plan formula in effect on January 1, 2001.

(2) Internal Revenue Code Section 415 limit is $140,000.

(3) Compensation in excess of $170,000 is not recognized.

The years of credited service and average annual compensation covered by
the Retirement Plan for the current employees named in the Summary Compensation
Table are respectively as follows: W.C. King 6 years and $129,335; T.E. Mark 5
years and $160,000; G.J. Israel 8 years and $154,152; and R.M. Currie 8 years
and $140,049.

The Retirement Plan is integrated with Social Security benefits and the
amounts payable upon retirement shown in the table are net of Social Security
benefits offsets.

EMPLOYMENT AND OTHER AGREEMENTS

On October 1, 1995, the Corporation and William C. King entered into an
employment agreement which replaced a temporary agreement executed in April of
1995. Under the October agreement, Mr. King was to serve as President and Chief
Executive Officer with the understanding that, upon the hiring of a chief
operating officer, he would continue as Chief Executive Officer. The original
five year term of the agreement, which expired on September 30, 2000, was
extended for an additional one year period expiring on September 30, 2001. The
agreement provides for a salary of $120,000 per year plus $200 per hour to a
maximum of $1,350 per day for days in excess of five days of service per month.
The agreement also provides that Mr. King will participate in the Corporation's
medical and life insurance plans, be entitled to retiree medical coverage, and
be eligible for option grants and annual bonuses. Under the terms of the
employment agreement, Mr. King will also be entitled to a supplemental pension
upon his termination of employment with the Corporation based upon the formula
in the Retirement Plan, but increased for additional credited service in
accordance with the terms of the agreement. The agreement includes severance
terms providing two years' salary and two years' medical benefits if Mr. King is
terminated before expiration of the agreement's term for a reason other than
Cause or Disability or if he resigns for Good Reason (as such terms are defined
in the agreement).

On January 22, 1996, the Corporation and Thomas E. Mark entered into an
employment agreement naming Mr. Mark President and Chief Operating Officer. The
agreement has a three year term but extends on each anniversary date for an
additional year unless either party declines the extension. It provides for an
initial base salary of $238,000 per year and a signing bonus of $40,000. The
agreement provides that Mr. Mark will participate in the Corporation's medical
and life insurance plans and be eligible for option grants and annual bonuses.
The agreement also provides for a supplemental pension upon his termination of
employment, subject to certain vesting and other conditions set forth in the
agreement. The full amount of the pension will equal 50% of his final salary and
will be earned if Mr. Mark completes five years of employment with the
Corporation. The agreement includes severance terms providing six months' salary
and six months' medical benefits if Mr. Mark is terminated before the expiration
of the agreement's term for a reason other than Cause or Disability or if he
resigns for Good Reason (as such terms are defined in the agreement). Under the
agreement, he is also entitled to receive his salary and medical benefits for an
additional period, up to 18 months, during which he is seeking new employment.

9
12

On February 22, 1993, the Corporation and Gerald J. Israel entered into an
employment agreement naming Mr. Israel Chief Financial Officer and Vice
President-Finance effective February 23, 1993. Mr. Israel was named Treasurer in
1994. The agreement provides for an initial base salary of $125,000 and the
opportunity to earn an annual bonus. It provides medical benefits, life
insurance and full vesting in the Retirement Plan after five full years of
employment. The agreement further provides for a severance payment of three
months' salary if the Corporation terminates Mr. Israel's employment in the
first year of service, to be increased by one month per each year of service
thereafter to a maximum of twelve months' salary.

On June 23, 1993, the Corporation and Robert M. Currie entered into an
employment agreement naming Mr. Currie General Counsel of the Corporation
effective as of July 16, 1993. Mr. Currie was named Secretary of the Corporation
in 1994. The agreement has a three year term but extends on each anniversary
date for an additional year unless earlier terminated. It provides for an
initial base salary of $125,000 and the opportunity to earn an annual bonus. It
provides medical benefits, life insurance and full vesting in the Retirement
Plan after five full years of employment. The agreement further provides for a
severance payment of 18 months' salary in the event the Corporation terminates
Mr. Currie's employment for a reason other than Cause (as defined in the
agreement).

Each of the named Executive Officers has received various option grants
under the Corporation's 1993 Stock Option Plan. The plan provides for the
immediate vesting and acceleration of options upon a change in Control (as
defined in the plan) of the Corporation.

DIRECTOR COMPENSATION

Under the Corporation's current practices, a Director of the Corporation
who is not an employee of the Corporation or its subsidiaries is paid a monthly
retainer of $1,000. In addition, each Director is paid $1,000 plus reasonable
expenses for attendance at Board of Directors meetings, with the exception of
meetings held during the month of November for which Directors are paid $2,000
in addition to reasonable expenses. Each Director who serves as chairman of a
committee also receives $1,000 for such service, and $500 and reasonable
expenses for each committee meeting attended.

10
13

PERFORMANCE GRAPH

The graph below compares the cumulative total shareholder return on the
Common Stock for the last five fiscal years with the cumulative total return on
the NASDAQ Index and the Chemicals-Specialty Index over the same period
(assuming an investment of $100 in the Common Stock, NASDAQ Index and the
Chemicals-Specialty Index on December 31, 1995, and reinvestment of all
dividends). The common stock of each of the following companies is included in
the Chemicals-Specialty Index: Air Products and Chemicals, Cabot Corporation,
Ethyl Corporation, Grace (WR) and Corporation, Great Lakes Chemical, Lubrizol
Corporation, Praxair, Inc. and Sigma Aldrich Corporation.

COMPARISON OF FIVE YEAR CUMULATIVE TOTAL RETURN
AMONG DETREX CORPORATION, THE NASDAQ STOCK MARKET -- US INDEX
AND A PEER GROUP
[PERFORMANCE GRAPH]

NASDAQ STOCK MARKET
DETREX CORPORATION PEER GROUP (U.S.)
------------------ ---------- -------------------

12/95 100.00 100.00 100.00
12/96 133.33 111.84 123.04
12/97 185.71 131.06 150.69
12/98 119.05 99.01 212.51
12/99 73.81 102.06 394.92
12/00 109.52 107.22 237.62

OPTION GRANTS IN LAST FISCAL YEAR

In 2000, no Executive Officer of the Corporation received stock options or
stock appreciation rights.

11
14

AGGREGATE OPTION EXERCISES IN LAST FISCAL YEAR
AND YEAR-END OPTION VALUES

The following table shows aggregate option exercises in the last fiscal
year and fiscal year-end option values for the Executive Officers included in
the Summary Compensation Table.

NUMBER OF
SECURITIES VALUE OF
UNDERLYING UNEXERCISED
UNEXERCISED IN-THE-MONEY
SHARES OPTIONS AT OPTIONS AT
ACQUIRED ON VALUE YEAR-END(#) YEAR-END($)
EXERCISE REALIZED EXERCISABLE/ EXERCISABLE/
NAME (#) ($) UNEXERCISABLE UNEXERCISABLE
---- ----------- -------- ------------- -------------

W.C. King...................................... 0 0 15,000/1,000 6,000/0
T.E. Mark...................................... 0 0 77,000/1,000 0/0
G.J. Israel.................................... 0 0 13,000/1,000 0/0
R.M. Currie.................................... 0 0 8,000/1,000 0/0

RELATIONSHIP WITH INDEPENDENT
PUBLIC ACCOUNTANTS

Deloitte & Touche LLP, certified public accountants, have audited the
accounts of the Corporation for over 40 years and have been selected by the
Corporation to continue in that capacity during 2001. This selection was
approved by the Audit Committee and by the Board of Directors.

Deloitte & Touche LLP plan to have a representative attend the Annual
Meeting who will be available to respond to appropriate questions and who will
have the opportunity to make a statement if the representative desires to do so.

AUDIT FEES

The aggregate fees billed by Deloitte & Touche LLP for professional
services rendered for the audit of the Corporation's annual financial statements
for the fiscal year ended December 31, 2000 and the reviews of the financial
statements included in the Corporation's Forms 10-Q during the same fiscal year
were $232,500.

FINANCIAL INFORMATION SYSTEMS DESIGN AND IMPLEMENTATION FEES

No professional services related to information systems design and
implementation were performed for the Corporation by Deloitte & Touche LLP
during the fiscal year ended December 31, 2000.

ALL OTHER FEES

The aggregate fees billed by Deloitte & Touche LLP for all other
professional services rendered to the Corporation during the fiscal year ended
December 31, 2000 were $53,200.

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15

SOLICITATION OF PROXIES

The expenses in connection with the solicitation of the enclosed form of
proxy, including clerical work, printing and postage, will be borne by the
Corporation. In addition to the use of the mails, Directors, Officers, or
employees of the Corporation or its subsidiaries may make solicitations in
person or by telephone without special compensation. The Corporation has
retained Corporate Investor Communications, Inc. to assist in the solicitation
of proxies at an estimated cost of $1,500 plus reimbursement of reasonable
expenses. The Corporation will reimburse custodians, nominees or other persons
for their out-of-pocket expenses in sending proxy material to beneficial owners.

PROPOSALS OF SHAREHOLDERS

Proposals of shareholders intended to be presented at the 2002 Annual
Meeting must be received by the Secretary, Detrex Corporation, 24901
Northwestern Highway, Suite 500, Southfield, Michigan 48075 no later than
November 23, 2001.

13
16

AS TO OTHER MATTERS WHICH
MAY COME BEFORE THE MEETING

The Board of Directors does not intend to bring any other matters before
the meeting and has not been informed of such an intention by any other person.
However, if any other matters properly come before the meeting, it is the
intention of the persons named in the enclosed form of proxy to vote said
proxies in accordance with their judgment on such matters.

It is important that the proxies be returned promptly. Therefore,
shareholders are requested to execute and return the enclosed proxy to which no
postage need be affixed if mailed in the United States.

By Order of the Board of Directors

ROBERT M. CURRIE
Secretary

Dated: March 23, 2001

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17

APPENDIX A

DETREX CORPORATION
AUDIT COMMITTEE CHARTER

PURPOSE

The purpose of the Audit Committee is to assist the Board of Directors of
the Company in fulfilling its responsibilities to oversee the Company's
financial reporting process, including monitoring the integrity of the Company's
financial statements and the independence and performance of the Company's
external auditors.

It is the responsibility of executive management of the Company to prepare
financial statements in accordance with the generally accepted accounting
principles and of the Company's independent auditors to audit those financial
statements. The Audit Committee's responsibility is one of oversight and in
carrying out its responsibility, the Audit Committee is not providing any expert
or other special assurance as to the Company's financial statements.

MEMBERSHIP REQUIREMENTS

The Audit Committee shall be comprised of that number of directors as the
Board of Directors shall determine from time to time, such number not to be less
than three (3), each of which Directors shall meet all applicable requirements
of the Audit Committee Policy of NASDAQ with respect to independence, financial
literacy, accounting or related financial expertise, and any other matters
required by NASDAQ. The members of the Audit Committee, including the Chair
thereof, shall be appointed annually by the Board of Directors.

AUTHORITY

In discharging its oversight responsibilities, the Audit Committee shall
have unrestricted access to the Company's management, books and records and the
authority to retain outside counsel, accountants or other consultants at the
Audit Committee's sole discretion.

RESPONSIBILITIES

The following are the general responsibilities of the Audit Committee and
are set forth only for its guidance. The Audit Committee may diverge from these
responsibilities and may assume such other responsibilities as it deems
necessary or appropriate in carrying out its oversight functions. The Audit
Committee shall:

- propose to the Board of Directors annually the appointment of the
independent auditors who shall be accountable to the Board of Directors
and the Audit Committee;

- determine whether to recommend to the Board of Directors that the
Company's financial statements be included in its Annual Report on Form
10-K for filing with the Securities and Exchange Commission. To carry out
this responsibility, the Audit Committee shall:

- review and discuss the audited financial statements with management and
the independent auditors;

- discuss with the independent auditors the matters required by Statement
on Auditing Standards No. 61; and

- review and discuss with the independent auditors the written disclosures
required by Independence Standards Board Standard No. 1 regarding their
independence and, where appropriate, recommend that the Board of
Directors take appropriate action in response to the disclosures to
satisfy itself of the independence of the Company's independent
auditors;

- based upon the reviews and discussions, issue its report for inclusion
in the Company's proxy statement;

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18

- consider whether the provision of services by the independent auditors
not related to the audit of the annual financial statement and the review
of the interim financial statements included in the Company's Forms 10-Q
for such year is compatible with maintaining the auditor's independence;

- review and discuss with management and the independent auditors, the
Company's interim financial statements to be included in the Company's
quarterly reports to be filed with the Securities and Exchange
Commission;

- meet privately with the independent auditors and with the Chief Financial
Officer or Controller to review the Company's accounting practices,
internal accounting controls and such other matters as the Audit
Committee deems appropriate;

- regularly report to the Board of Directors its conclusions with respect
to the matters that the Audit Committee has considered; and

- review and reassess the adequacy of this Charter annually and submit it
to the Board of Directors for approval.

MEETINGS

Subject to the Company's By-laws and resolutions of the Board, the Audit
Committee shall meet at least four (4) times annually at such times as the
Chairman of the Committee shall designate.

16
19

DETCM-PS-01
20

DETREX CORPORATION

24901 NORTHWESTERN HIGHWAY, SUITE 500, SOUTHFIELD, MICHIGAN 48075

ANNUAL MEETING APRIL 26, 2001
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The shareholder(s) signing the reverse side of this card (the "Shareholder")
hereby appoints Robert A. Emmett, III, Benjamin W. McCleary and Arbie R.
Thalacker, and each of them, with power of substitution to each, proxies of the
Shareholder, to vote at the Annual Meeting of Shareholders of Detrex Corporation
(the "Corporation") to be held on the 26th day of April, 2001 and at any and all
postponements or adjournments of said meeting, all of the shares of stock of the
Corporation which the Shareholder may be entitled to vote, with all the powers
the Shareholder would possess, if then and there personally present.

The Shareholder hereby revokes any proxy or proxies heretofore given to vote
upon or act with respect to such shares and hereby ratifies and confirms all
that said proxies, their substitutes or any of them may lawfully do by virtue
hereof.

This proxy may be revoked at any time prior to said meeting and the Shareholder
reserves the right to attend such meeting and vote said stock in person.

The Shareholder hereby acknowledges receipt of the Notice of Annual Meeting of
Shareholders, dated March 23, 2001, the Proxy Statement furnished herewith and
the Annual Report of the Corporation for 2000.

- -------------------------------------------------------------------------------
PLEASE VOTE, SIGN, DATE AND MAIL THIS PROXY IN THE ENCLOSED ENVELOPE,
WHICH REQUIRES NO POSTAGE IF MAILED IN THE UNITED STATES.
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
NOTE: Please sign exactly as name appears hereon. If the stock is held in the
name of two or more persons, each should sign. Executors, administrators,
trustees, guardians, attorneys and corporate officers should add their titles.
If a corporation, sign in full corporate name by president or other authorized
officer. If a partnership, sign in partnership name by authorized person.
- -------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?

- ----------------------------------- ----------------------------------

[X]PLEASE MARK VOTES |
AS IN THIS EXAMPLE. |
|
------

- -----------------------------------

DETREX CORPORATION

- -----------------------------------

1. Election of Directors.

DIRECTORS OF THE THIRD CLASS: THE BOARD OF DIRECTORS RECOMMENDS THAT
(01) BRUCE W. COX SHAREHOLDERS VOTE "FOR" ITEM 1.
(02) THOMAS E. MARK

FOR WITHHELD
ALL [ ] [ ] FROM ALL
NOMINEES NOMINEES

[ ]_______________________________________ UNLESS OTHERWISE SPECIFIED HEREON, THE SHARES REPRESENTED BY THIS PROXY
For all nominees except as noted above WILL BE VOTED FOR ITEM 1. THIS PROXY WILL BE VOTED IN THE DISCRETION OF
THE PROXIES NAMED ON THE REVERSE SIDE WITH RESPECT TO ANY OTHER MATTERS
WHICH MAY PROPERLY COME BEFORE THE MEETING AND ANY POSTPONEMENTS OR
ADJOURNMENTS THEREOF.

Mark box at right if an address change or comment has been
noted on the reverse side of this card. [ ]

Signature:___________________________ Date:_____________ Signature:________________________________ Date:______________