Fabric Manufacturer Polartec Will Be Bought By Milliken & Company

Polartec, the fabric manufacturer of the United States, will be acquired by textile manufacturer Milliken & Company, which will help improve its brushing and functional textiles production capacity in outdoor clothing, work clothes and military clothing.

Although the financial terms have not yet been announced, the plan for Versa Capital Management to sell Polartec is expected to end in June (2019).

Polartec is headquartered in Andover, Massachusetts. Its brand includes outdoor clothing and fabric technology, from functional and general textiles to flame retardant, work clothes and military grade fabrics.

The addition of Polartec will make the product mix of Milliken more perfect, especially Polartec's outdoor and woolen fabrics. Milliken's functional and protective textiles sector covers automotive, interior design, industrial and military fields. In clothing, Milliken provides work clothes, sportswear and protective equipment.

Milliken & Company, President and executive director of Halsey Cook, said: "Polartec has brought a large number of new and respected outdoor textile professionals, increasing the advantages of Milliken. This strategic acquisition expands our textile capabilities, including products such as bristles and soft shell coats, and encourages us to grow in new and exciting spaces.

Polartec CEO Gary Smith added: "Milliken has more than 150 years of experience in textile innovation, and is the best owner of Polartec brand. Individuals are looking forward to the integration.

At that time, the 101 year old textile manufacturer Malden Mills was reorganized through third times, and Versa Capital acquired the assets of Malden Mills, the predecessor of Polartec in 2007. By working with management, the company's business has changed and renamed Polartec to reposition its technology and innovation oriented growth strategy, and restructure the company's leadership, operation, manufacturing footprint and customer relationship.

Jeff Price, President of Milliken functional and protective textiles department, said the move widened the scope of the regional manufacturing industry and strengthened technical expertise to enable the company to further provide innovative and functional textiles in the global market.

Polartec's products range from light weight moisture absorption and sweat discharge fabrics to isolation, windproof and rain proof textiles, not only for leading consumer brands, but also for the US military and other global military, fire retardant, work clothes and custom decoration market.

The latest research and development project of Polartec is the new "Ready to Roll" project, which provides high-quality fabrics that can be delivered at any time to meet customers' shorter delivery time requirements.

Polartec is more committed to the use of 100% recyclable and biodegradable materials on the entire product line, thereby improving product sustainability, and developing the fabric technology that is said to be the first to reduce fiber shedding.