The paper presents the results of a one-year study of the performance of a full scale plant for the treatment of industrial liquid wastes adopting the alternate cycle process. The carbon and nitrogen removal performances were discussed according to the experimental measurements of maximum nitrification and denitrification rates. It was demonstrated that the nitrification process was the limiting step: it worked with a rate in the range 0.002 - 0.02 KgNH4-N kg(-1)VSS d(-) at 20 degrees C. This was because of inhibition phenomena due to the presence of both complex organic compounds and heavy metals which were not removed by the chemical-physical pre-treatment step. The denitrification process was characterized by a maximum rate ranging from 0.015 to 0.056 Kg NO3-N kg(-1)VSS d(-1) at 20 degrees C, according to the available amount of readily biodegradable COD in the treated wastes. The reliability of the aerobic-anoxic process was determined on the basis of the percentage of successful cycles compared with the performed ones. It was shown that the actual cycles ranged from 50 to 100% of the expected ones, while effective cycles were up to 84% in the first step and up to 60% in the second one. These were related to the carbon to nitrogen ratio. Even if at times the nitrogen and carbon removal yields were not satisfactory, the two step aerobic-anoxic process operated in the alternate cycle mode seems a successful solution for the treatment of liquid industrial wastes.