Quick thread question

Hi all,

I an using a 3rd party component to process data.

The problem is that the call to the "start processing" method return 
emmidiaty and the component fires an event when it finished.

Now i need to set up a thread i can run, that sets up a component, start 
processing and then waist for the finished event before terminating.

Can i set up a semaphore in my thread and us WaitForSingleObject??

A bit like (if over simplified) :



Var threadEvent : TEvent;

procedure TThread.Execute;
begin
    //Setup processing
    //Start processing
    ..........
    TEvent.create;
    WaitForSingleObject(theadEvent, 600000);
    ..........
    //Free process
end;

procedure THread.OnProcessDone;
begin
    TEvent.reset;
end;