MAS Holdings is expanding its global production footprint.
The Sri Lanka-based global apparel technology is opening its first U.S. manufacturing and development center in North Carolina. The company plans to invest approximately $20 million in an Asheboro-based facility, which will create 133 new jobs and provide additional payroll impact that exceeds $4 million yearly.
MAS Holding’s new manufacturing location also includes a pending acquisition of Acme-McCrary, a 108-year-old textile producer based in Ashboro. Acme-McCrary manufactures activewear for popular U.S. retailers and has many worldwide facilities, including factories in Chatham County and the Republic of Honduras.
“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,” MAS Holdings chairman Mahesh Amalean said. “It also enables us to engage and strengthen our continued association with academia and research institutions in the U.S.”
The One North Carolina Fund, a discretionary financial assistance program that supports local government efforts and economic investment, will provide a performance-based grant of $575,000 to facilitate MAS Holdings’ move into the state. Companies that receive grants, including MAS Holdings, receive no money upfront and are obliged to meet job creation targets to be eligible for payment. As part of its job creation target, MAS Holdings is required to keep 374 existing jobs at Acme-McCrary.
Additional key project partners include the City of Asheboro, Duke Energy, the North Carolina Community College System, the North Carolina General Assembly, North Carolina State University, Randolph County and Randolph County Economic Development Corporation.
“MAS Holdings brings to North Carolina an exemplary corporate culture and a growing business,” Acme-McCrary chairman W.H. Redding Jr. said. “Their concern for environmental impact is world class and keeping and growing textile jobs in North Carolina is exciting.”
As in innovative textile company, MAS Holdings employs over 85,000 associates globally and operates 48 advanced facilities, including apparel and component manufacturing plants, in 15 countries. MAS Holdings also equips apparel companies with technology solutions. MAS Holdings is currently working with startup companies in Silicon Valley and New York to integrate technology into clothing. The company aims to make smart apparel part of the wearables market in upcoming years.