Polertec (formerly Malden Mills Industries)

Company Profile

1906 Henry Feuerstein founds the company, originally called Malden Knitting, in Malden, Mass.

1945 Aaron Feuerstein joins Malden Mills in quality control. He becomes chief executive in the early 1950s.

1956 Company moves to Lawrence,Mass.

1981 Malden Mills invents synthetic fleece, trademarked as Polartec.

1994 Malden Mills adds new mill in Gorlitz, Germany. The company has customers in 50 countries.

December 11, 1995 Malden Mills suffers a fire on its flocking line. The blaze causes more destruction to property-$500 million worth-than any fire in Massachusetts history, severely injuring 33 workers.

2001 Malden declares bankruptcy.

2003 Malden emerges from bankruptcy. Feuerstein, no longer in control, has option to buy back the company.

In January 2007, Malden Mills In­dustries, maker of Polartec polyester fleece, has filed for Chapter 11 bankruptcy protection as a precursor to selling the firm to Gordon Brothers Group for $44 million.

Name change to Polertec in March 2007.

NTA member from November 15, 1996 through December 31, 2003.

Member of AFA until January 15, 1998.

Plant Closings and Layoffs