Founded in 1917 as the Union Carbide and Carbon Corporation, from a merger with National Carbon Company, the company's researchers developed an economical way to make ethylene from natural gas liquids, such as ethane and propane, giving birth to the modern petrochemical industry. Before divesting them, the chemical giant owned consumer products Eveready and Energizer batteries, Glad bags and wraps, Simoniz car wax, and Prestone antifreeze. The company divested other businesses before being acquired by Dow Chemical on February 6, 2001, including electronic chemicals, polyurethane intermediates, industrial gases and carbon products.