Additionally, fashions changed with the introduction of polyester and rayon, and demand for worsted wool plummeted by the mid-1920s. The two world wars were a boon to the AWC, keeping the company prosperous into 1945. American Woolen Company ranked 51st among United States corporations in the value of World War II military production contracts. In 1902 the company built Presidential Village, a neighborhood of about 200 rental houses for workers at its mill in Maynard, Massachusetts. All of the homes were auctioned to highest bidders in August 1934. The company was also auctioning housing at other New England mills. Shawsheen Village which was Built in Andover Massachusetts in the former Frye Village, was built to house the middle to upper management of the American Woolen Company which was headquartered in Shawsheen Village in Andover Massachusetts. The village was divided into two distinct groups. One being red brick house built for upper management and one being white colonial style houses built for middle management. Following the end of the Korean War, government contracts ended. Virtually bankrupt, the American Woolen Co. was purchased by Textron and incorporated into its Amerotron division in 1955. In 1966 an Uxbridge, Massachusetts-based, wool blanket contractor purchased the American Woolen Company trademark in order to better support its business activity of the manufacturing and distribution of woolen blankets for the American domestic market. In 1987, American Woolen sold its Uxbridge blanket manufacturing facility, relocated to Miami, Florida, and focused its activity on the importing and wholesaling of woolen blankets targeting relief organizations, municipalities, aid agencies and the general hospitality sector. In 2013 an investment group led by Jacob Harrison Long completed the purchase, carve out and realignment of American Woolen Company’s business activity with the intent to focus the company on the design and manufacture of fine American-made worsted and woolen apparel fabrics. In June 2014, American Woolen purchased the Warren Mills complex from Italian luxury apparel group Loro Piana SpA, which had owned and operated the mill for 26 years. Recognized as being "on par with the best mills in Europe,” Stafford Springs, Connecticut based Warren Mills is American Woolen Company's headquarters where the company produces worsted wool for men's suits and cashmere and camel hair for coats. The acquisition was made with the assistance of the Connecticut Department of Economic and Community Development, which provided American Woolen Company with a loan and a grant to help cover the building acquisition costs.