UOP generated so much income that it threatened the American Chemical Society’s non-profit status. Seeking to resolve this while diversifying its source of income, the ACS sold UOP to shareholders in a 1959 public offering.
Within a year, shareholders were pining for UOP to diversify its operations and insulate the company from the boom-and-bust cycles in the petroleum industry. By 1966, UOP had acquired more than 20 businesses in trades as diverse as fragrances, food additives, copper mining, forestry and even manufacturing truck seats and aircraft galleys.
In Japan, UOP established a manufacturing and licensing company with Japan Gasoline Company in 1963 called Nikki-Universal. Five years later, the Union Showa company (USKK) was created by Showa Denko and a Union Carbide division that later joined UOP, to manufacture molecular sieves.
UOP introduced the revolutionary Parex™ process in 1970, enabling efficient production of high-quality paraxylene for polyester, resins and films.