How many plants did Berkshire Hathaway have after the 1955 textile merger? The answer is 15 plants.
Berkshire Hathaway was created in 1955 when Berkshire Fine Spinning Associates merged with Hathaway Manufacturing Company. The combined textile manufacturer had 15 plants, employed more than 12,000 people, and generated more than $120 million in revenue.
The merger joined two established New England textile operations. Berkshire Fine Spinning Associates was based in Adams, Massachusetts, while Hathaway Manufacturing had roots in New Bedford, Massachusetts. The new company retained the Berkshire Hathaway name, which later became associated worldwide with investments and diversified operating businesses rather than textiles.
The textile operation struggled in the following decades. Seven of the 15 locations were closed by the end of the 1950s, and the closures brought substantial layoffs. Warren Buffett began buying Berkshire shares in 1962, but the company eventually abandoned textiles entirely; its last textile operations shut down in 1985.