Polartec LLC, the holding company recently formed in order to acquire the assets of Malden Mills out of bankruptcy, signed an agreement with Unite HERE! union members. The union has approved the terms of a new collective bargaining agreement between Unite HERE! and Polartec LLC. Polartec LLC intends to close shortly on its purchase of certain assets of the company formerly known as Malden Mills Industries, Inc.
Malden Mills currently employs approximately 550 Unite HERE! members in the manufacture of Polartec-branded fabrics at its Lawrence and Methuen, Massachusetts and Hudson, New Hampshire plants. Members voted in favor of the new three and a half year contract by an overwhelming majority, which will allow for continued employment of every Unite HERE! employee with Polartec, thereby strengthening the future of Polartec in Massachusetts.