PACER TECHNOLOGY
10-K405, EX-21, 2000-09-28
ADHESIVES & SEALANTS
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<PAGE>   1



                                   EXHIBIT 21


                        SUBSIDIARIES OF PACER TECHNOLOGY

<TABLE>
<CAPTION>
Name of Subsidiary      State or Jurisdiction of Organization        Registrant's Percentage Ownership
------------------      -------------------------------------        ---------------------------------
<S>                     <C>                                          <C>
 Pacer Tech Ltd.,             A United Kingdom Corporation                         100%
</TABLE>








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