BIP (Oldbury) has been dipping into specialty chemicals since its creation in the late 1800s. The company -- called British Industrial Plastics once upon a time -- is the oldest polymer material manufacturer in the UK. A pioneer in developing thermoset resins and plastic molding materials, it was the first company to patent urea-formaldehyde resins. BIP now makes molding materials and textile and paper chemicals. It manufactures industrial chemicals such as formaldehyde resins, adhesives, and water-based polyurethanes. It also produces a biodiesel product, BIPSE, from discarded vegetable oils. BIP is a subsidiary of Synthite, the UK's leading formaldehyde producer.