|   UNITED      STATESSECURITIES      AND EXCHANGE COMMISSIONWashington,      D.C. 20549 FORM      10-Q QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES      EXCHANGE ACT OF 1934 For the quarterly period      ended MARCH 31,      2009 Commission      file number: 1-1463 UNION      CARBIDE CORPORATION(Exact      name of registrant as specified in its charter)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
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| New      York(State      or other jurisdiction ofincorporation      or organization)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 13-1421730(I.R.S.      Employer Identification No.) |
|  1254      Enclave Parkway, Houston, Texas  77077      (Address      of principal executive      offices)          (Zip      Code)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|  Registrant's      telephone number, including area    code:  281-966-2727                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
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| Indicate      by check mark whether the registrant (1) has filed all reports required to      be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934      during the preceding 12 months (or for such shorter period that the      registrant was required to file such reports), and (2) has been subject to      such filing requirements for the past 90      days.                                                                                                                                                                                 þ      Yes    o No  |
| Indicate      by check mark whether the registrant has submitted electronically and      posted on its corporate Web site, if any, every Interactive Data File      required to be submitted and posted pursuant to Rule 405 of Regulation S-T      (§232.405 of this chapter) during the preceding 12 months (or for such      shorter period that the registrant was required to submit and post      such       files)                                                                                                         o      Yes    o No                                                                                                                                                                                                                                                                                                                                                                                                               |
| Indicate      by check mark whether the registrant is a large accelerated filer, an      accelerated filer, a non-accelerated filer or a smaller reporting company.      See definitions of “large accelerated filer,” “accelerated filer” and      “smaller reporting company” in Rule 12b-2 of the ExchangeAct.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Large      accelerated filer o                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Smaller      reporting company o |
| Non-accelerated      filer   þ                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | Accelerated      filer o |
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| Indicate      by check mark whether the registrant is a shell company (as defined in      Rule 12b-2 of the Exchange      Act).                                                                                                                                                                  o      Yes    þ  No                                                                                                                                                                                                                                                                                                                         |
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| At      March 31, 2009, 1,000 shares of common stock were outstanding, all of      which were held by the registrant’s parent, The Dow Chemical      Company. The      registrant meets the conditions set forth in General Instructions H(1)(a)      and (b) for Form 10-Q and is therefore filing this form with a reduced      disclosure format.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |

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TABLE OF CONTENTS

|                                                                                                                 | PAGE     |
|----------------------------------------------------------------------------------------------------------------------|----------|
| PART      I - FINANCIAL INFORMATION                                                                                  |     |
|  Item 1.  Financial      Statements.                                                                  |  3  |
|  Consolidated Statements of      Income                                                                         |  3  |
|  Consolidated Balance Sheets                                                                                    |  4  |
|  Consolidated Statements of CashFlows                                                                           |  5  |
|  Consolidated Statements of      Equity                                                                         |  6  |
|  Consolidated Statements of Comprehensive      Income                                                           |  6  |
|  Notes to the Consolidated Financial      Statements                                                            |  7  |
|  Item 2.  Management's Discussion and Analysis of      Financial Condition and Results of Operations. |  15 |
|  Disclosure Regarding Forward-Looking      Information                                                          |  15 |
|  Results of Operations                                                                                          |  15 |
|  Other Matters                                                                                                  |  16 |
|  Item 3.  Quantitative and Qualitative Disclosures      About Market Risk.                            |  18 |
|  Item 4T.  Controls and      Procedures.                                                              | 18       |
|  PART      II - OTHER INFORMATION                                                                               |     |
|  Item 1.  Legal      Proceedings.                                                                     |  19 |
|  Item 1A.  Risk Factors.                                                                              |  19 |
|  Item 6.  Exhibits.                                                                                   |  20 |
|  SIGNATURES                                                                                                     |  21 |
|  EXHIBIT INDEX                                                                                                  |  22 |

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Table of Contents

| PART      I - FINANCIAL INFORMATION                       |   |                    |   |   |           |   |
|-----------------------------------------------------------|--------|-------------------------|--------|--------|----------------|--------|
|                                                      |   |                    |   |   |           |   |
| ITEM      1. Financial Statements.                        |   |                    |   |   |           |   |
|                                                      |   |                    |   |   |           |   |
| Union      Carbide Corporation and Subsidiaries           |
| Consolidated Statements of      Income                    |
|                                                      |   |                    |   |   |           |   |
|                                                      |   | Three      Months Ended |   |
|                                                      |   | March      31,          |   |   | March      31, |   |
| In      millions     (Unaudited) |   | 2009                    |   |   | 2008           |   |
| Net      trade sales                                      |   | $                       | 35     |   |           | $      | 46 |   |
| Net      sales to related companies                       |   |                    | 1,003  |   |           |   | 1,989 |   |
| Total      Net Sales                                      |   |                    | 1,038  |   |           |   | 2,035 |   |
| Cost      of sales                                        |   |                    | 1,019  |   |           |   | 1,961 |   |
| Research      and development expenses                    |   |                    | 14     |   |           |   | 19 |   |
| Selling,      general and administrative expenses         |   |                    | 3      |   |           |   | 3 |   |
| Restructuring      charges                                |   |                    | 4      |   |           |   | - |   |
| Equity      in earnings of nonconsolidated affiliates     |   |                    | 2      |   |           |   | 54 |   |
| Sundry      income (expense) - net                        |   |                    | (3     | )      |           |   | 70 |   |
| Interest      income                                      |   |                    | 6      |   |           |   | 32 |   |
| Interest      expense and amortization of debt discount   |   |                    | 14     |   |           |   | 12 |   |
| Income      (Loss) before Income Taxes                    |   |                    | (11    | )      |           |   | 196 |   |
| Provision      (Credit) for income taxes                  |   |                    | (38    | )      |           |   | 41 |   |
| Net      Income Attributable to Union Carbide Corporation |   | $                       | 27     |   |           | $      | 155 |   |
| Depreciation                                              |   | $                       | 68     |   |           | $      | 65 |   |
| Capital      Expenditures                                 |   | $                       | 21     |   |           | $      | 40 |   |
| See      Notes to the Consolidated Financial Statements.  |   |                    |   |   |           |   |   |   |

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Table of Contents

| Union      Carbide Corporation and Subsidiaries                                                                |
|----------------------------------------------------------------------------------------------------------------|
| Consolidated Balance Sheets                                                                                    |
|                                                                                                           |   |   |   |   |   |   |
|                                                                                                           |   | March      31, |   |   | Dec.      31, |   |
| In      millions     (Unaudited)                                                      |   | 2009 |   |   | 2008 |   |
| Assets                                                                                                         |   |   |   |   |   |   |
| Current      Assets                                                                                            |   |   |   |   |   |   |
| Cash      and cash equivalents                                                                                 |   | $ | 20 |   |   | $ | 24 |   |
| Accounts      receivable:                                                                                      |   |   |   |   |   |   |   |   |
|      Trade      (net of allowance for doubtful receivables - 2009: $1; 2008:      $1) |   |   | 27 |   |   |   | 21 |   |
|      Related      companies                                                           |   |   | 114 |   |   |   | 128 |   |
|      Other                                                                            |   |   | 79 |   |   |   | 90 |   |
| Notes      receivable from related companies                                                                   |   |   | 3,799 |   |   |   | 3,934 |   |
| Inventories                                                                                                    |   |   | 190 |   |   |   | 187 |   |
| Other      current assets and deferred income taxes                                                            |   |   | 38 |   |   |   | 64 |   |
| Total      current assets                                                                                      |   |   | 4,267 |   |   |   | 4,448 |   |
| Investments                                                                                                    |   |   |   |   |   |   |   |   |
| Investments      in related companies                                                                          |   |   | 972 |   |   |   | 972 |   |
| Investments      in nonconsolidated affiliates                                                                 |   |   | 402 |   |   |   | 427 |   |
| Other      investments                                                                                         |   |   | 22 |   |   |   | 19 |   |
| Noncurrent      receivables                                                                                    |   |   | 46 |   |   |   | 46 |   |
| Noncurrent      receivables from related companies                                                             |   |   | 211 |   |   |   | 187 |   |
| Total      investments                                                                                         |   |   | 1,653 |   |   |   | 1,651 |   |
| Property                                                                                                       |   |   |   |   |   |   |   |   |
| Property                                                                                                       |   |   | 7,634 |   |   |   | 7,630 |   |
| Less      accumulated depreciation                                                                             |   |   | 5,797 |   |   |   | 5,744 |   |
| Net      property                                                                                              |   |   | 1,837 |   |   |   | 1,886 |   |
| Other      Assets                                                                                              |   |   |   |   |   |   |   |   |
| Other      intangible assets (net of accumulated amortization 2009: $136; 2008:      $135)                     |   |   | 16 |   |   |   | 17 |   |
| Deferred      income tax assets - noncurrent                                                                   |   |   | 421 |   |   |   | 439 |   |
| Asbestos-related      insurance receivables - noncurrent                                                       |   |   | 657 |   |   |   | 658 |   |
| Deferred      charges and other assets                                                                         |   |   | 81 |   |   |   | 79 |   |
| Total      other assets                                                                                        |   |   | 1,175 |   |   |   | 1,193 |   |
| Total      Assets                                                                                              |   | $ | 8,932 |   |   | $ | 9,178 |   |
| Liabilities      and Equity                                                                               |   |   |   |   |   |   |   |   |
| Current      Liabilities                                                                                       |   |   |   |   |   |   |   |   |
| Notes      payable - related companies                                                                         |   | $ | 11 |   |   | $ | 12 |   |
| Long-term      debt due within one year                                                                        |   |   | 249 |   |   |   | 249 |   |
| Accounts      payable:                                                                                         |   |   |   |   |   |   |   |   |
|      Trade                                                                            |   |   | 172 |   |   |   | 170 |   |
|      Related      companies                                                           |   |   | 193 |   |   |   | 299 |   |
|      Other                                                                            |   |   | 28 |   |   |   | 35 |   |
| Income      taxes payable                                                                                      |   |   | 69 |   |   |   | 176 |   |
| Asbestos-related      liabilities - current                                                                    |   |   | 123 |   |   |   | 120 |   |
| Accrued      and other current liabilities                                                                     |   |   | 203 |   |   |   | 198 |   |
| Total      current liabilities                                                                                 |   |   | 1,048 |   |   |   | 1,259 |   |
| Long-Term      Debt                                                                                            |   |   | 571 |   |   |   | 571 |   |
| Other      Noncurrent Liabilities                                                                              |   |   |   |   |   |   |   |   |
| Pension      and other postretirement benefits - noncurrent                                                    |   |   | 646 |   |   |   | 662 |   |
| Asbestos-related      liabilities - noncurrent                                                                 |   |   | 800 |   |   |   | 824 |   |
| Other      noncurrent obligations                                                                              |   |   | 284 |   |   |   | 298 |   |
| Total      other noncurrent liabilities                                                                        |   |   | 1,730 |   |   |   | 1,784 |   |
| Stockholder's      Equity                                                                                      |   |   |   |   |   |   |   |   |
| Common      stock (authorized and issued: 1,000 shares of $0.01 par value      each)                           |   |   | - |   |   |   | - |   |
| Additional      paid-in capital                                                                                |   |   | 312 |   |   |   | 312 |   |
| Retained      earnings                                                                                         |   |   | 6,122 |   |   |   | 6,094 |   |
| Accumulated      other comprehensive loss                                                                      |   |   | (852 | ) |   |   | (844 | ) |
| Union      Carbide Corporation's stockholder's equity                                                          |   |   | 5,582 |   |   |   | 5,562 |   |
| Noncontrolling      interests                                                                                  |   |   | 1 |   |   |   | 2 |   |
| Total      equity                                                                                              |   |   | 5,583 |   |   |   | 5,564 |   |
| Total      Liabilities and Equity                                                                              |   | $ | 8,932 |   |   | $ | 9,178 |   |
| See      Notes to the Consolidated Financial Statements.                                                       |   |   |   |   |   |   |   |   |

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Table of Contents

| Union      Carbide Corporation and Subsidiaries                                                                                                          |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| Consolidated Statements of Cash Flows                                                                                                                    |   |
|                                                                                                                                                     |   | Three      Months Ended |   |
|                                                                                                                                                     |   | March      31, |   |   | March      31, |   |
| In      millions     (Unaudited)                                                                                                |   | 2009 |   |   | 2008 |   |
| Operating      Activities                                                                                                                                |   |   |   |   |   |   |
| Net      Income                                                                                                                                          |   | $ | 27 |   |   | $ | 155 |   |
| Adjustments      to reconcile net income to net cash provided by operating      activities:                                                              |   |
|           Depreciation      and amortization                                                           |   |   | 75 |   |   |   | 81 |   |
|           Provision      (credit) for deferred income tax                                              |   |   | (8 | ) |   |   | 60 |   |
|           Earnings      of nonconsolidated affiliates in excess of (less than) dividends      received |   |   | 16 |   |   |   | (42 | ) |
|           Net      gain on sales of property                                                           |   |   | - |   |   |   | (7 | ) |
|           Other      gain, net                                                                         |   |   | - |   |   |   | (1 | ) |
|           Restructuring      charges                                                                   |   |   | 4 |   |   |   | - |   |
|           Pension      contributions                                                                   |   |   | (1 | ) |   |   | (1 | ) |
| Changes      in assets and liabilities:                                                                                                                  |   |   |   |   |   |   |   |   |
|           Accounts      and notes receivable                                                           |   |   | - |   |   |   | 11 |   |
|           Related      company receivables                                                             |   |   | 149 |   |   |   | (436 | ) |
|           Inventories                                                                                  |   |   | (3 | ) |   |   | (13 | ) |
|           Accounts      payable                                                                        |   |   | 23 |   |   |   | 47 |   |
|           Related      company payables                                                                |   |   | (107 | ) |   |   | 131 |   |
|           Other      assets and liabilities                                                            |   |   | (134 | ) |   |   | 44 |   |
| Cash      provided by operating activities                                                                                                               |   |   | 41 |   |   |   | 29 |   |
| Investing      Activities                                                                                                                                |   |   |   |   |   |   |   |   |
| Capital      expenditures                                                                                                                                |   |   | (21 | ) |   |   | (40 | ) |
| Change      in noncurrent receivable from related company                                                                                                |   |   | (24 | ) |   |   | 7 |   |
| Proceeds      from sales of property                                                                                                                     |   |   | - |   |   |   | 6 |   |
| Purchases      of investments                                                                                                                            |   |   | (8 | ) |   |   | (2 | ) |
| Proceeds      from sales of investments                                                                                                                  |   |   | 8 |   |   |   | 2 |   |
| Cash      used in investing activities                                                                                                                   |   |   | (45 | ) |   |   | (27 | ) |
| Summary                                                                                                                                                  |   |   |   |   |   |   |   |   |
| Increase      (Decrease) in cash and cash equivalents                                                                                                    |   |   | (4 | ) |   |   | 2 |   |
| Cash      and cash equivalents at beginning of year                                                                                                      |   |   | 24 |   |   |   | 22 |   |
| Cash      and cash equivalents at end of period                                                                                                          |   | $ | 20 |   |   | $ | 24 |   |
| See      Notes to the Consolidated Financial Statements.                                                                                                 |   |   |   |   |   |   |   |   |

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| Union      Carbide Corporation and Subsidiaries                         |   |
|-------------------------------------------------------------------------|--------|
| Consolidated Statements of    Equity                                    |   |
|                                                                    |   | Three      Months Ended |   |
|                                                                    |   | March      31, |   |   | March      31, |   |
| In      millions     (Unaudited)               |   | 2009 |   |   | 2008 |   |
| Common      Stock                                                       |   |   |   |   |   |   |
| Balance      at beginning of year and end of period                     |   |   | - |   |   |   | - |   |
| Additional      Paid-in Capital                                         |   |   |   |   |   |   |   |   |
| Balance      at beginning of year                                       |   | $ | 312 |   |   | $ | 121 |   |
| Capital      contribution                                               |   |   | - |   |   |   | 191 |   |
| Balance      at end of period                                           |   |   | 312 |   |   |   | 312 |   |
| Retained      Earnings                                                  |   |   |   |   |   |   |   |   |
| Balance      at beginning of year                                       |   |   | 6,094 |   |   |   | 5,767 |   |
| Net      income                                                         |   |   | 27 |   |   |   | 155 |   |
| Other                                                                   |   |   | 1 |   |   |   | - |   |
| Balance      at end of period                                           |   |   | 6,122 |   |   |   | 5,922 |   |
| Accumulated      Other Comprehensive Loss, Net of Tax                   |   |   |   |   |   |   |   |   |
| Cumulative      Translation Adjustments at beginning of year            |   |   | (61 | ) |   |   | (69 | ) |
| Translation      adjustments                                            |   |   | (5 | ) |   |   | 6 |   |
| Balance      at end of period                                           |   |   | (66 | ) |   |   | (63 | ) |
| Pension      and Other Postretirement Benefit Plans at beginning ofyear |   |   | (783 | ) |   |   | (164 | ) |
| Net      gain (loss)                                                    |   |   | (2 | ) |   |   | 1 |   |
| Pension      and Other Postretirement Benefit Plans at end of period    |   |   | (785 | ) |   |   | (163 | ) |
| Accumulated      Investment Gain at beginning of year                   |   |   | 1 |   |   |   | - |   |
| Net      investment results                                             |   |   | (1 | ) |   |   | - |   |
| Balance      at end of period                                           |   |   | - |   |   |   | - |   |
| Accumulated      Derivative Gain at beginning of year                   |   |   | (1 | ) |   |   | - |   |
| Net      hedging results                                                |   |   | - |   |   |   | (1 | ) |
| Balance      at end of period                                           |   |   | (1 | ) |   |   | (1 | ) |
| Total      accumulated other comprehensive loss                         |   |   | (852 | ) |   |   | (227 | ) |
| Union      Carbide Corporation's Stockholder's Equity                   |   |   | 5,582 |   |   |   | 6,007 |   |
| Noncontrolling      Interests                                           |   |   | 1 |   |   |   | 2 |   |
| Total      Equity                                                       |   | $ | 5,583 |   |   | $ | 6,009 |   |
| See      Notes to the Consolidated Financial Statements.                |   |   |   |   |   |   |   |   |

| Union      Carbide Corporation and Subsidiaries                     |
|---------------------------------------------------------------------|
| Consolidated Statements of Comprehensive      Income                |
|                                                                |   | Three      Months Ended |   |
|                                                                |   | March      31, |   |   | March      31, |   |
| In      millions     (Unaudited)           |   | 2009 |   |   | 2008 |   |
| Net      Income Attributable to Union Carbide Corporation           |   | $ | 27 |   |   | $ | 155 |   |
| Other      Comprehensive Income (Loss), Net of Tax                  |   |   |   |   |   |   |   |   |
| Cumulative      translation adjustment                              |   | $ | (5 | ) |   | $ | 6 |   |
| Pension      and other postretirement benefit plans adjustment      |   |   | (2 | ) |   |   | 1 |   |
| Net      unrealized losses on investments                           |   |   | (1 | ) |   |   | - |   |
| Net      loss on cash flow hedging derivative instruments           |   |   | - |   |   |   | (1 | ) |
| Total      other comprehensive income (loss)                        |   |   | (8 | ) |   |   | 6 |   |
| Comprehensive      Income Attributable to Union Carbide Corporation |   | $ | 19 |   |   | $ | 161 |   |
| See      Notes to the Consolidated Financial Statements.            |   |   |   |   |   |   |   |   |

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|  Union      Carbide Corporation and Subsidiaries           |
|-----------------------------------------------------------------|
|  Notes to the Consolidated Financial      Statements  |
|  (Unaudited)                                               |

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Table of Contents

| 2009      Activities Related to 2008 Restructuring In      millions |   | Costs      associatedwith Exit orDisposal Activities |   |   | Severance Costs |   |   | Total  |   |
|--------------------------------------------------------------------------|--------|------------------------------------------------------|--------|--------|----------------------|--------|--------|--------|--------|
| Reserve      balance at December 31, 2008                                |   | $                                                    | 24     |   |                 | $      | 24     |   |   | $ | 48 |   |
| Adjustment      to the reserve                                           |   |                                                 | -      |   |                 |   | 4      |   |   |   | 4 |   |
| Cash      payments                                                       |   |                                                 | -      |   |                 |   | (8     | )      |   |   | (8 | ) |
| Reserve      balance at March 31, 2009                                   |   | $                                                    | 24     |   |                 | $      | 20     |   |   | $ | 44 |   |

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Table of Contents

| 2009      Activities Related to 2007 Restructuring In      millions |   | Costs      associated with Exit or Disposal Activities |   |   | Severance      Costs |   |   | Total  |   |
|--------------------------------------------------------------------------|--------|--------------------------------------------------------|--------|--------|----------------------|--------|--------|--------|--------|
| Reserve      balance at December 31, 2008                                |   | $                                                      | 12     |   |                 | $      | 15     |   |   | $ | 27 |   |
| Cash      payments                                                       |   |                                                   | -      |   |                 |   | (2     | )      |   |   | (2 | ) |
| Reserve      balance at March 31, 2009                                   |   | $                                                      | 12     |   |                 | $      | 13     |   |   | $ | 25 |   |

| InventoriesIn      millions |   | March      31,2009 |   |   | Dec.      31,2008 |   |
|-----------------------------|--------|--------------------|--------|--------|-------------------|--------|
| Finished      goods         |   | $                  | 48     |   |              | $      | 48 |   |
| Work      in process        |   |               | 5      |   |              |   | 10 |   |
| Raw      materials          |   |               | 47     |   |              |   | 55 |   |
| Supplies                    |   |               | 90     |   |              |   | 74 |   |
| Total      inventories      |   | $                  | 190    |   |              | $      | 187 |   |

| Other      Intangible Assets              |   | At      March 31, 2009     |   |   | At      December 31, 2008     |   |
|-------------------------------------------|--------|----------------------------|--------|--------|-------------------------------|--------|
| In      millions                          |   | Gross      Carrying Amount |   |   | Accumulated      Amortization |   |   | Net |   |   | Gross      Carrying Amount |   |   | Accumulated      Amortization |   |   | Net |   |
| Intangible      assets with finite lives: |   |                       |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Licenses      and intellectual property   |   | $                          | 33     |   |                          | $      | (33 | ) |   |   | - |   |   | $ | 33 |   |   | $ | (33 | ) |   |   | - |   |
| Patents                                   |   |                       | 2      |   |                          |   | (1 | ) |   | $ | 1 |   |   |   | 2 |   |   |   | (1 | ) |   | $ | 1 |   |
| Software                                  |   |                       | 117    |   |                          |   | (102 | ) |   |   | 15 |   |   |   | 117 |   |   |   | (101 | ) |   |   | 16 |   |
| Total      other intangible assets        |   | $                          | 152    |   |                          | $      | (136 | ) |   | $ | 16 |   |   | $ | 152 |   |   | $ | (135 | ) |   | $ | 17 |   |

| Estimated      Amortization ExpenseIn      millions |
|-----------------------------------------------------|
| 2009                                                | $6 |
| 2010                                                | $5 |
| 2011                                                | $4 |
| 2012                                                | $2 |
| 2013                                                | - |
| 2014                                                | - |

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| Basis      of Fair Value Measurementsat      March 31, 2009In      millions |   | Significant      Other Observable Inputs (Level 2) |   |
|-----------------------------------------------------------------------------|--------|----------------------------------------------------|--------|
| Assets      at fair value:                                                  |   |                                               |   |
|     Debt      securities (1)                            |   |                                               | $18    |   |

| (1) | Included      in “Other investments” in the consolidated balance  sheets. |
|-----|---------------------------------------------------------------------------------------|

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| Receivables      for Costs Submitted to Insurance Carriers |   |
|------------------------------------------------------------|--------|
| In      millions                                           |   | March      31, 2009 |   |   | Dec.      31, 2008 |   |
| Receivables      for defense costs                         |   | $ | 26 |   |   | $ | 28 |   |
| Receivables      for resolution costs                      |   |   | 245 |   |   |   | 244 |   |
| Total                                                      |   | $ | 271 |   |   | $ | 272 |   |

| Fixed      and Determinable Portion of Take-or-Pay Obligationsat      December 31, 2008In      millions |   |
|--------------------------------------------------------------------------------------------------------------|--------|
| 2009                                                                                                         |   | $ | 13 |   |
| 2010                                                                                                         |   |   | 14 |   |
| 2011                                                                                                         |   |   | 6 |   |
| 2012                                                                                                         |   |   | 4 |   |
| 2013                                                                                                         |   |   | 4 |   |
| 2014      and beyond                                                                                         |   |   | 14 |   |
| Total                                                                                                        |   | $ | 55 |   |

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| GuaranteesIn      millions                | Final      Expiration | Maximum      Future Payments | Recorded      Liability |
|-------------------------------------------|-----------------------|-----------------------------------|-------------------------|
| Guarantees      at March 31, 2009    | 2014                  | $68                               | $1                      |
| Guarantees      at December 31, 2008 | 2014                  | $72                               | $1                      |

| Net      Periodic Benefit Cost (Credit) for All Significant Plans |   |
|-------------------------------------------------------------------|--------|
|                                                              |   | Defined      Benefit Pension Plans |   |   | Other      Postretirement Benefits |   |
|                                                              |   | Three      Months Ended |   | Three      Months Ended |
| In      millions                                                  |   | March      31,2009 |   |   | March      31,2008 |   |   | March      31,2009 |   |   | March      31,2008 |   |
| Service      cost                                                 |   | $ | 4 |   |   | $ | 5 |   |   |   | - |   |   | $ | 1 |   |
| Interest      cost                                                |   |   | 56 |   |   |   | 56 |   |   | $ | 8 |   |   |   | 7 |   |
| Expected      return on plan assets                               |   |   | (75 | ) |   |   | (78 | ) |   |   | - |   |   |   | - |   |
| Amortization      of prior service cost (credit)                  |   |   | 1 |   |   |   | 2 |   |   |   | - |   |   |   | (1 | ) |
| Amortization      of net loss                                     |   |   | 1 |   |   |   | 1 |   |   |   | - |   |   |   | - |   |
| Net      periodic benefit cost (credit)                           |   | $ | (13 | ) |   | $ | (14 | ) |   | $ | 8 |   |   | $ | 7 |   |

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|  Union Carbide Corporation and      Subsidiaries  |
|-------------------------------------------------------------|

ITEM 2

| DISCLOSURE REGARDING FORWARD-LOOKING    INFORMATION |
|-----------------------------------------------------|

RESULTS OF OPERATIONS

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OTHER MATTERS

Recent Accounting Pronouncements

|                                                   |   | 2009   |   |   | 2008   |   |
|--------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Claims      unresolved at January 1                    |   |   | 75,706 |   |   |   | 90,322 |   |
| Claims      filed                                      |   |   | 2,295  |   |   |   | 2,716 |   |
| Claims      settled, dismissed or otherwise resolved   |   |   | (3,199 | )      |   |   | (2,854 | ) |
| Claims      unresolved at March 31                     |   |   | 74,802 |   |   |   | 90,184 |   |
| Claimants      with claims against both UCC and Amchem |   |   | 24,126 |   |   |   | 28,893 |   |
| Individual      claimants at March 31                  |   |   | 50,676 |   |   |   | 61,291 |   |

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| Defense      and Resolution Costs |                                 Three Months Ended | Aggregate      Costs |
|-----------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------|
| In      millions                  | March      31,2009                                                                                                                                                                   | March      31,2008   | to      Date as ofMarch      31, 2009 |
| Defense      costs                | $11                                                                                                                                                                                  | $14                  | $636 |
| Resolution      costs             | $24                                                                                                                                                                                  | $42                  | $1,410 |

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| Receivables      for Costs Submitted to Insurance Carriers |   |
|------------------------------------------------------------|--------|
| In      millions                                           |   | March      31, 2009 |   |   | Dec.      31, 2008 |   |
| Receivables      for defense costs                         |   | $ | 26 |   |   | $ | 28 |   |
| Receivables      for resolution costs                      |   |   | 245 |   |   |   | 244 |   |
| Total                                                      |   | $ | 271 |   |   | $ | 272 |   |

ITEM 3

ITEM 4T

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PART II 

ITEM 1.  LEGAL PROCEEDINGS

RISK FACTORS

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EXHIBITS

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|  Union Carbide Corporation and      SubsidiariesSignatures  |
|-----------------------------------------------------------------------|

|                              |   | UNION      CARBIDE CORPORATION     |
|-----------------------------------|--------|------------------------------------|
|                              |   | Registrant                         |
|                              |   |                               |
|                              |   |                               |
| Date:  May      4, 2009 |   |                               |
|                              | By:    | /s/      WILLIAM H. WEIDEMAN       |
|                              |   | William      H. Weideman           |
|                              |   | Vice      President and Controller |
|                              |   | The      Dow Chemical Company      |
|                              |   | Authorized      Representative of  |
|                              |   | Union      Carbide Corporation     |
|                              |   |                               |
|                              |   |                               |
|                              |   |                               |
|                              |   |                               |
|                              | By:    | /s/      EUDIO GIL                 |
|                              |   | Eudio      Gil                     |
|                              |   | Vice      President, Treasurer and |
|                              |   | Chief      Financial Officer       |

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|  Union Carbide Corporation and      SubsidiariesExhibit Index  |
|--------------------------------------------------------------------------|

| EXHIBIT      NO. |                                                       DESCRIPTION  |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 23               | Analysis,      Research & Planning Corporation’s Consent.                                                                                                                                                                                                                                                                              |
| 31.1             | Certification      Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                    |
| 31.2             | Certification      Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                    |
| 32.1             | Certification      Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                    |
| 32.2             | Certification      Pursuant to Section 906 of the Sarbanes-Oxley Act of  2002.                                                                                                                                                                                                                                                                        |

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