Union Carbide Company History Timeline

1898
In 1898 the Union Carbide Company was created in Virginia to manufacture calcium carbide for acetylene lighting.
1900
Marie, Michigan, and Niagara Falls, New York, and by 1900 the Union Carbide's capital stock stood at 6 million.
1917
National Carbon Company formed in New Jersey it was succeeded by the National Carbon Company in New York in 1917 its stock eventually was acquired by the Union Carbide Carbon Company.
As one of America's first oxygen-producing concerns and after 1917 part of one of the country's largest chemical companies, Linde soon became the world's largest producer of industrial gases like acetylene, hydrogen and nitrogen.
1919
In 1919 alone, the company acquired an acetylene manufacturer, created Canadian subsidiaries of National Carbon Co. and Prest-O-Lite, and purchased a new headquarters at 42nd Street and Madison Avenue in New York City.
In 1919 the first production of synthetic ethylene began.
1922
A plant was built and operated by the Electro Metallurgical Company acquired in 1922 to provide extensive metallurgical research, and manufacture uranium.
1926
The holding company added to its battery business with the purchase of Manhattan Electrical Supply Co. in 1926.
1928
UCC annexed two domestic industrial gases interests in 1928 and strengthened its industrial electric furnace business with the acquisition of the Acheson Graphite Corporation in 1928.
1934
The Company Union Carbide India Limited UCIL was a diversified manufacturing company incorporated in 1934.
1939
The company continued to acquire related chemical producers, including the Bakelite Corporation in 1939.
1941
And in 1941, Carbide made permanent-press fabrics possible with its development of glyoxal.
1943
Ceased operating the United States Department of Energy's Oak Ridge, Tennessee begun in 1943 and Paducah, Kentucky facilities, and dissolved its Nuclear Division.
1949
Under the direction of CFO Morse G. Dial, Carbide absorbed its major operating subsidiaries and formally relinquished its holding company status in 1949.
1957
The company changed its name to Union Carbide Corporation in 1957 and was often referred to as Carbide.
1964
But Carbide finally capitalized on this discovery in 1964, when Glad branded plastic wraps, bags, and straws were introduced.
1965
In 1965 the conglomerate's sales topped 2 billion for the first time.
1970
A New Business Development Department was formed in 1970 to coordinate the three areas outside of chemicals and plastics that Wilson didn't sell Biomedical Systems, Marine Foods, and Agricultural Systems.
1971
CFO and president F. Perry Wilson, who had been promoted to those offices in 1971, made his bid to turn Union Carbide around.
The plant ''cannot be run safely with six people,'' said Kamal K. Pareek, a chemical engineer who began working at the Bhopal plant in 1971 and was senior project engineer during the building of the methyl isocyanate facility there eight years ago.
1974
The company was given a fall 1974 deadline to install 8 million in advanced emissions scrubbers.
1975
In 1975 the Indian government granted Union Carbide a license to manufacture pesticides, and a plant was built on the sparsely populated outskirts of the regional capital of Bhopal.
1976
Moreover, Union Carbide's 1976 technical manual warns specifically that if methyl isocyanate is kept at 20 degrees centigrade a contaminant can spur a runaway reaction.
1977
William S. Sneath continued these trends when he became chairman and CEO in 1977.
1978
Steadily rising expenses in Europe resulted in a 32 million loss in 1978, which forced Carbide to divest virtually all of its European petrochemicals and plastics operations.
1979
That same year, UCC was forced by its creditors to retire 292 million in long-term debt, which forced it to borrow another 300 million in 1979.
1980
Chairman Sneath embarked on another round of cost-cutting in 1980, pruning the executive staff by 1,000 and divesting a total of 39 businesses.
By 1980, Carbide had 116,000 employees at over 500 plants, mines, and laboratories in 130 countries, bringing in over 9 billion in annual sales.
Tank storage began in 1980, when Bhopal started producing its own methyl isocyanate.
1981
Sales hit 8.3 billion one-third below the 1981 peak , profits were up to more than 300 million, and the company had a new CEO, Robert D. Kennedy.
1982
The spokesman in Danbury said the corporation had been informed that Union Carbide India had taken ''all the action it considered necessary to respond effectively'' to the 1982 report.
1983
Pareek said he resigned in December 1983 because he was disheartened about developments at the plant and because he was offered a better job with Goodyear India Ltd. as a divisional production manager.
- The staff at the methyl isocyanate plant, which had little automated equipment, was cut from 12 operators on a shift to 6 in 1983, according to several employees.
1984
Union Carbide officials estimated that at least five tons of methyl isocyanate MIC seeped out of the plant in just 30 minutes one day in December 1984.
1984 CORPORATE STATEMENT ON BHOPAL Company statements in its 1984 Annual Report included the following Bhopal was a shocking tragedy, but Union Carbide was well served by our quick and compassionate response, and by the way the situation was managed.
15 is seeking unspecified damages from Union Carbide Corp. for the world's worst industrial accident that killed at least 7,000 people in Bhopal, India, in 1984.
Starting in 1984, they said, nearly all major maintenance was performed on the day shift, and there was a backlog of jobs.
1985
The United States OSHA, after a September 1985 inspection of five of 18 plant units at Institute, West Virginia, alleged 221 violations of 55 health and safety laws, and proposed 1.4 million in fines.
By 1985, the company's market value dropped by two-thirds to less than 3 billion, and GAF Corporation's Samuel Heyman accumulated enough stock to mount a hostile takeover bid of 5.3 billion.
The National Institutes for Chemical Studies NICS , established in 1985, released its five-year study of cancer rates in the Kanawha Valley, West Virginia.
1986
Payment of 31.7 million in tentative settlement of a class action lawsuit In re Union Carbide Corporation Consumer Products Business Securities Litigation see the June 1986 entry.
Some of the facilities will be divested under the announced restructuring program and the sale of the Consumer Products business batteries, lighting products, plastic wrap and bags, antifreeze, and automotive specialty products, in 1986 .
The business, including Energizer alkaline batteries, was sold to Ralston Purina in 1986, following a hostile takeover attempt.
1987
Income rose 78 percent in 1987 to 232 million, but high debt service made it hard for the company to develop and introduce new products.
As found by the United States Court of Appeals for the Second Circuit in its 1987 decision dismissing the Bhopal gas disaster litigation in the United States In short, the plant has been constructed and managed by Indians in India.
1988
A Bhopal court then revived culpable homicide charges against former chairman Warren Anderson a warrant for him was originally issued in November 1988 and eight other Union Carbide officials.
By 1988, Union Carbide's corporate identity had begun to take clearer shape.
In 1988 UCC reduced its debt by more than 400 million and increase equity by almost 600 million.
1990
Net income decreased 46 percent from 1990.
Carbide progressed toward this goal by repurchasing 20 million shares, spinning off two small businesses, and selling 50 percent of its carbon business in 1990.
1991
The United States EPA issued a complaint against McGhan Nusil which UCC P acquired in March 1991 , alleging that McGhan had violated the Toxic Substances Control Act by manufacturing TSCA inventory chemicals without notifying EPA the EPA proposed a penalty of 384,000.
In 1991, Union Carbide sold half of UCAR, which thus became a joint venture with Mitsubishi.
1992
In March 1992, Union Carbide agreed to pay 3.2 million to the widow and two children of Resendez.
See also the June 1992 entry for the spin-off of the Linde industrial gases operations into a new corporation, Praxair.
As a fitting mark to Union Carbide's 75th anniversary in 1992, the company had the year's best-performing stock on the Dow Jones list of 30 industrials.
1993
Sales showed a slight gain in the 1993 first quarter, closing at 1.19 billion.
1994
The program had a cost reduction goal of 400 million a year by the end of 1994.
1996
A second expansion into the Chinese market came later in 1996 with Carbide's subsidiary Amerchol Corp. announcing that it would be constructing a plant in Guangdong Province, China.
1997
Carbide teamed with Exxon Chemical Company in 1997 to create the joint venture company Univation Technologies.
1999
On August 4, 1999, it was announced that Union Carbide would become a subsidiary of The Dow Chemical Company.
Another joint venture was announced in 1999.
2000
In 2000, net sales were 6.52 billion with a profit of 162 million.
2001
Finally, all discussion was over and Dow acquired Carbide for 11.6 billion on February 6, 2001.
In 2001, the Kerteh Integrated Petrochemicals Complex opened, with Union Carbide owning 24 percent of the project.
2003
In 2003, however, Carbide moved into the black again with net sales of 5.16 billion and a profit of 313 million.
2004
For additional information on this 2004 PIL, please see Alok Pratap Singh vs.
2005
For the first quarter of 2005, Carbide reported net sales of 1.68 billion and a profit of 280 million.
Founded
1917
Company Founded
Headquarters
Houston, TX
Company Headquarter

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