Berkshire Fine Spinning Associates
| Company type | Private |
|---|---|
| Industry | Textile manufacturing |
| Predecessor | Berkshire Cotton Manufacturing Company |
| Founded | 1889 |
| Founder | William Plunkett, Charles Plunkett |
| Defunct | 1955 |
| Fate | Merged with Hathaway Manufacturing Company to form Berkshire Hathaway |
| Headquarters | Adams, Massachusetts , United States |
Key people | Malcolm Greene Chace (leader), Malcolm Greene Chace Jr. (leader) |
Number of employees | 11,000 (1948) |
Berkshire Fine Spinning Associates () was a textile manufacturer based in the United States. In 1955, it combined with Hathaway Manufacturing Company to create Berkshire Hathaway.
History
The company originated in 1889 under the name Berkshire Cotton Manufacturing Company, founded by William and Charles Plunkett, who were sons of the industrialist William C. Plunkett. Its inaugural facility, Berkshire Mill No. 1, was established in Adams, Massachusetts in 1899, with President William McKinley participating in the cornerstone ceremony.
In 1929, Berkshire Cotton joined forces with Rhode Island’s Valley Falls Company, established by Oliver Chace, resulting in the formation of Berkshire Fine Spinning Associates led by Malcolm Greene Chace. The business grew through acquisitions such as King Philip Mills in Fall River in 1930 and Parker Mills in 1931.
Berkshire Fine Spinning Associates distinguished itself by surviving the Great Depression when numerous New England textile companies did not. By 1948, it achieved revenues of $29.5 million and maintained a workforce of 11,000 employees distributed among 11 mills, with Malcolm Greene Chace Jr. at the helm.
In February 1955, Malcolm Jr. facilitated a merger with Hathaway Manufacturing Company, which had been founded in New Bedford in 1888 by Horatio Hathaway, leading to the establishment of Berkshire Hathaway. At the same time, labor union conflicts resulted in a strike lasting thirteen weeks.
Post-merger mill developments
Mill #4 was shut down in 1958, causing the loss of approximately 1,000 jobs.
During the early 1960s, individual mills were sold off separately. Due to reduced industrial demand, Mills #2 and #3 were eventually demolished.
Berkshire Mill No. 1 underwent a transformation into 65 residential apartments in 1987 and is presently managed by Harvest Properties LLC.
In 2014, proposals were made to redevelop Berkshire Mill No. 4 into 150 affordable housing units; however, as of 2023, this initiative remains on hold because of unresolved permitting and financing issues, leaving the structure unused.