Boston Associates organize the Boston Manufacturing Company
Labels: Francis Cabot, Boston Associates, Boston ManufacturingIn 1813, merchant Francis Cabot Lowell and a group of investors later called the “Boston Associates” organized the Boston Manufacturing Company in Waltham, Massachusetts. Their goal was to build a new kind of textile enterprise that could compete with British imports using water power and machinery. This set the foundation for what became known as the Waltham system: bringing multiple production steps together under one management structure.