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MAS Holdings to set up centre in Randolph County
05
Apr '17
Courtesy: Mas Holding
Courtesy: Mas Holding
MAS Holdings, a global apparel technology and manufacturing company, has decided to set up its first manufacturing and development centre in the US in Randolph County. The exercise will create 133 new jobs. The company plans to invest nearly $20 million in the facility in Asheboro, providing additional payroll impact exceeding $ four million annually.
 
This was announced by Governor Roy Cooper. "North Carolina enjoys a worldwide reputation as a center for textile research and workers. Our excellent business climate and location offer international firms an ideal place to reach and serve customers in the United States," Cooper said. 
 
MAS Holdings is an innovative textile company headquartered in Sri Lanka, employing more than 85,000 associates worldwide. It operates 48 state-of-the-art facilities in 15 countries including design offices, apparel and component manufacturing plants and private industrial parks. Recently, the company has been working to integrate technology into clothing, partnering with startup companies in the Silicon Valley region of California and in New York in the fields of wearable technology and health and wellness.
 
The company's selection of a North Carolina location includes a pending acquisition of Acme-McCrary, a 108-year-old textile manufacturer, currently located in Asheboro with additional facilities in Chatham County and the Republic of Honduras. The company produces legwear and active wear for large US retailers.
 
Mahesh Amalean, chairman of MAS Holdings stated, "Our presence in the Western Hemisphere enables us to strengthen our value propositions of speed and flexibility offered through on-shore and near-shore operations to our customers. It also enables us to engage and strengthen our continued association with academia and research institutions in the US."
 
WH Redding, chairman of Acme-McCrary stated, "MAS Holdings brings to North Carolina an exemplary corporate culture and a growing business. Their concern for environmental impact is world class and keeping and growing textile jobs in North Carolina is exciting."
 
A performance-based grant of $575,000 from the One North Carolina Fund will help facilitate MAS Holdings' location into Randolph County. The One NC Fund provides financial assistance to support local government efforts to attract economic investment and create jobs. (SV)

Fibre2Fashion News Desk – India


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