Gaochun Chemical Industry Plant flexible foam unit renamed after Foam Division. Mr. Rui Jinggong was the Director. Leading 12 workers, he acquired the plant which was in loss and started the undertaking.
With Nanjing Economy Committee’s approvement, the Foam Division renamed after Nanjing Polyurethane Chemical Industry Plant, as a dependent accounting enterprises belonging to Gaochun County Chemical Industry Plant.
With Nanjing System Reform Committee’s approvement, Nanjing Polyurethane Chemical Industry Plant was reformed and Nanjing Hongbaoli Co. Ltd. was founded, hence had independent legal person qualification, and to be one of the first experimental joint-stock companies in Nanjing City.
Hongbaoli Company started a new undertaking, which emblemized the company’s striding forward from the basis of “being strong” to “being larger”.
The construcion of 60,000Mt Isopropanolamine production facility, which called for a total investment of 600 million Yuan, was started in Nanjing Chemical Industry Park.
First period construction for 20,000Mt Isoropanolamine project was completed
and put into production.