Universal Oil Products, Inc - 100 Pieces!

Company History: California inventor Jesse A. Dubbs and Chicago industrialist J. Ogden Armour founded Universal Oil Products in 1914. The purpose of the company, originally named Standard Asphalt Co., was to develop and license technology to the petroleum refining industry. The company introduced its Dubbs thermal cracking process, a continuous process to convert crude oil into more useable products. Under the direction of Jesse’s son, Carbon Petroleum Dubbs, and Gustav Egloff, UOP sold licenses for “Dubbs Process.” Dubbs sold his patent licenses to Shell Oil, Standard Oil, and Royal Dutch Group, among other oil companies. This made possible the phenomenal growth of the automobile industry. Success followed this pioneering technology company as it developed more advanced processes. In 1965, Universal Oil Products Co. acquired Norplex, an industrial laminated plastics firm. UOP had diversified interest from RD&E services to operations in plastics, chemicals, construction, transportation, steel fabrication, and nuclear and aircraft parts. In July 1975 the company became UOP, Inc. AlliedSignal, owners of UOP, Inc., merged with Union Carbide’s Catalysts, Adsorbents and Process Systems (CAPS) group in 1988 to form UOP. The company operates by developing a process technology or working with third parties to develop a process technology, then licensing that process to refiners and petrochemical manufacturers. Today UOP is a worldwide leader in the petroleum refining, petrochemical, and gas processing industries.

Seated figure with locomotive & ship by Security Columbian Bank Note. Mixed Green, Orange and Blue colors. 100 Pieces.