UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
Amendment No.: 3
Name of Issuer: Balchem Corporation (BCP)
Title of Class of Securities: Common Stock, $.06 2/3 par value
CUSIP Number: 057665200
(Date of Event Which Requires Filing of this Statement)
December 31, 2001
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
/ / Rule 13d-1(b)
/X/ Rule 13d-1(c)
/ / Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect
to the subject class of securities, and for any subsequent
amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of
Section 18 of the Securities Exchange Act of 1934 ("Act") or
otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act
(however, see the Notes).
CUSIP Number: 057665200
1. Name of Reporting Person
I.R.S. Identification No. of Above Person
Phronesis Partners, L.P.
2. Check the Appropriate Box if a Member of a Group
a.
b. X
3. SEC Use Only
4. Citizenship or Place of Organization
Delaware
Number of Shares Beneficially Owned by Each Reporting Person
With:
5. Sole Voting Power:
339,100
6. Shared Voting Power:
0
7. Sole Dispositive Power:
339,100
8. Shared Dispositive Power:
0
9. Aggregate Amount Beneficially Owned by Each Reporting
Person
339,100
10. Check Box if the Aggregate Amount in Row (9) Excludes
Certain Shares
11. Percent of Class Represented by Amount in Row (9)
7.22%
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12. Type of Reporting Person
PN
3
CUSIP Number: 057665200
1. Name of Reporting Person
I.R.S. Identification No. of Above Person
James Wiggins
2. Check the Appropriate Box if a Member of a Group
a.
b. X
3. SEC Use Only
4. Citizenship or Place of Organization
United States
Number of Shares Beneficially Owned by Each Reporting Person
With:
5. Sole Voting Power:
0
6. Shared Voting Power:
339,100
7. Sole Dispositive Power:
0
8. Shared Dispositive Power:
339,100
9. Aggregate Amount Beneficially Owned by Each Reporting Person
339,100
10. Check Box if the Aggregate Amount in Row (9) Excludes
Certain Shares
11. Percent of Class Represented by Amount in Row (9)
7.22%
12. Type of Reporting Person
4
IN
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Item 1(a) Name of Issuer: Balchem Corporation (BCP)
(b) Address of Issuer's Principal Executive Offices:
P.O. Box 175
Slate Hill, New York 10973
Item 2(a) - (c). Name, Principal Business Address, and
Citizenship of Persons Filing:
James Wiggins
Phronesis Partners, L.P.
197 East Broad Street, Ste. 200
Columbus, OH 43215
Phronesis Partners, L.P. - Delaware limited
partnership
James Wiggins - United States citizen
(d) Title of Class of Securities: Common Stock
$0.6 2/3 par value (the "Common Stock")
(e) CUSIP Number: 057665200
Item 3. If this statement is filed pursuant to Rule
13d-1(b)(1) or 13d-2(b) or (c) check whether the person
filing is:
(a) / / Broker or dealer registered under Section 15 of
the Act,
(b) / / Bank as defined in Section 3(a)(6) of the Act,
(c) / / Insurance Company as defined in
Section 3(a)(19) of the Act,
(d) / / Investment Company registered under Section 8
of the Investment Company Act,
(e) / / Investment Adviser registered under Section 203
of the Investment Advisers Act of 1940,
(f) / / Employee Benefit Plan, Pension Fund which is
subject to the provisions of the Employee
Retirement Income Security Act of 1974 or
Endowment Fund,
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(g) / / Parent Holding Company, in accordance with Rule
13d-1(b)(ii)(G),
(h) / / Savings association as defined in Section 3(b)
of the Federal Deposit Insurance Act,
(i) / / Church plan excluded from the definition of an
investment company under Section 3(c)(14) of
the Investment Company Act,
(j) / / Group, in accordance with Rule 13d-
1(b)(1)(ii)(H).
If this statement is filed pursuant to Rule 13d-1(c), check
this box. /X/
Item 4. Ownership.
(a) Amount Beneficially Owned: 339,100
shares owned by Phronesis Partners, L.P.;
339,100 shares beneficially owned by
James Wiggins
(b) Percent of Class: 7.22% by Phronesis
Partners, L.P.; 7.22% by James Wiggins
(c) Phronesis Partners, L.P.: 339,100 shares
with sole power to vote or to direct the
vote; 0 shares with shared power to vote
or to direct the vote; 339,100 shares
with sole power to dispose of or to
direct the disposition of; 0 shares with
shared power to dispose of or to direct
the disposition of;
James Wiggins: 0 shares with sole power
to dispose of or to direct the
disposition of; 339,100 shares with
shared power to dispose of or to direct
the disposition of; 0 shares with sole
power to dispose of or to direct the
disposition of; 339,100 shares with
shared power to dispose of or to direct
the disposition of.
Item 5. Ownership of Five Percent or Less of a Class.
N/A
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Item 6. Ownership of More than Five Percent on Behalf of
Another Person.
N/A
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported by the Parent
Holding Company.
N/A
Item 8. Identification and Classification of Members of the
Group.
N/A
Item 9. Notice of Dissolution of the Group.
N/A
Item 10.
Certification for Rule 13d-1(c): By signing below I
certify that, to the best of my knowledge and belief, the
securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and
were not acquired and are not held in connection with or as
a participant in any transaction having that purpose or
effect.
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After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set
forth in this statement is true, complete and correct.
PHRONESIS PARTNERS, L.P.
By: /s/ James Wiggins
______________________
JAMES WIGGINS
General Partner
/s/ James Wiggins
______________________
JAMES WIGGINS
February 26, 2002
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00532001.AH6
AGREEMENT
The undersigned agree that this Schedule 13G/A
No. 3 dated February 26, 2002 relating to the Common Stock
of Balchem Corporation shall be filed on behalf of the
undersigned.
PHRONESIS PARTNERS, L.P.
By: /s/ James Wiggins
_______________________________
James Wiggins, General Partner
/s/ James Wiggins
_______________________________
James Wiggins
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00532001.AH6