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	DEVELOPMENT
	1956 Merged by 34 similar small factories and became "Wuxi Textile Machinery Factory" in public and private cooperative business operation. 1959 Merged Wuxi Reeling Machinery Factory into "Wuxi Textile Machinery Factory". 1960 Mainly Producing spare parts for cotton machines, developed D101 Automatic Reeling Machines. 1964 Mainly producing C561 Jute Spinning Machines, C571 Jute Roving Machines and C581 Jute Twisting Machines with a total output of 110machines. 1968 Successfully trial-producing C681 Jute Spinning Machine. 1970 Produced Set-heater, Tentering Machine with Hot Air, Oil and Vapour Compresser, Screw Rod Presser, Extinction Regulator, etc. 1974 Developed end-processing equipment for polyester filament VC473 Draw Texturing Machine. 1982 Developed Woolen Non-twisting Flyer Frame listed in one of 2,000 big and medium key enterprises in China. 1984 Developed Air-texturing Yarn Machine and started experimental work of High Speed Drawtexturing Machines with Barmag AG Germany. 1987 Possesing the capacity of producing High Speed Drawtexturing Manchines in series. Was listed in one of 665 key enterprises in Chinese machinery macnufactures. 1989 Possessing the capacity of producing chemical fibre, cotton, woolen, jute and knitting machines. Being evaluated as a advanced enterprise and a national class big enterprise. 1991 Established "Wuxi Hongyuan Textile Machinery Manufacturing Group Company" with Wuxi Textile Machinery Factory as the mainbody, entering the second period in cooperation with Barmag AG Germany to produce chemical fibre equipment. 1992 Profit tax was on the sixth position in national textile machinery industry, possessing the capacity of producing FK6 series High Speed Draw-Texturing Machines. Products entered Biggest chemical fibre enterprise (Yizheng Jiangsu China Fibre industy Co., Ltd.)in Asia. 1993 Restructured as "Jiangsu Hongyuan Textile Machinery Co., Ltd." Profit tax was in the fourth place in national textile machinery industry. And was listed in one of China National high & new technology enterprises of our country. 1994 Wuxi Hongyuan Chemical Fibre Experimental Works being finalized and started its operaiton. Joint Venture Wuxi Concord Plaza Hotel started its operation. Profit tax took the third place of Chinese textile machinery industry. 1995 Set up Pegasus Company in Pakistan. Hongyuan Hotel beingfinalized and started its operation. The main products were chosen as the irecommended productsiby China National Textile Council. Was listed in 500 good enterprises by comprehensive evaluation in China. 1996 Sino-Germany Wuxi Barmag Hongyuan Machinery Co., Ltd. was founded. Sino-France Wuxi NSC Hongyuan Textile Machinery Co., Ltd. was founded. 1997 Gained ISO9001 International Quality Guaranteed System Certificate. Restructured as Wuxi Hongyuan Group and Wuxi Hongyuan Group Limited Liability Company. 1998 Won the tenter for 85 sets FA415A Flyer Frames of Syria Project. FK6 Series High Speed Draw Texturing Machine was chosen as China Good-Quality product and Famous Brand Product and Famous Brand Product of Jiangsu; High Speed Draw Texturing Machine, Two-for-one Twister, Flyer Frame were chosen as Four Star famous brand product of Wuxi City. 1999 Hold the first scientific and technological symposium. 2000 Integrated Wuxi No.2 Textile Machinery Factory into Wuxi Hongyuan Group Limited Liability Company. The income from sales is 600 million yuan, and the profit tax is 44 million yuan. The economic benefit has continuously been on the first position of the same trade in Jiangsu Province and at the forefront in the whole country for ten years.
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