 In 1950, Henry Levison, along with other professionals in the art materials industry, established the "National Art Materials Trade Association", now known as the International Art Materials Trade Association.It was the first trade organization in the world that focused on promoting and sustaining the manufacture, distribution, sales, and training in the use of art materials.In 1964, Binney & Smith acquired the Liquitex brand, eventually selling it in 2000 to its present owner, "Colart".