MAS Holdings acquires US manufacturer, paves way for production in the US
MAS Holdings has acquired a US garment manufacturer, making it the first Sri Lankan apparel group to commence manufacturing in the US.
In a media announcement on Wednesday, MAS Holdings said it has acquired the business of Acme McCrary Corporation based in in North Carolina. MAS said its western hemisphere organisation will operate in four locations.
Existing manufacturing facilities in Asheboro, North Carolina, USA and Choloma, Honduras will be upgraded, and complemented by a brand new facility in the Caracol Industrial Park in Northern Haiti. In addition the collaboration includes a distribution centre, also in Asheboro. The four facilities, totaling over 800,000 ft will add immense value to MAS, complementing its Sri Lanka and wider offering to its US customers with an 'on-shore and nearshore' strategy, to deliver speed and flexibility, enabling the organisation to react rapidly to the dynamic market environment, the company said.
Commenting on the venture, Chairman MAS Holdings, Mahesh Amalean said "As a continuously evolving organisation, we are constantly looking to transform our design and manufacturing landscape to best represent the dynamic interests of our customers. The need for a robust model that enhances speed of response and cost competitiveness without compromising quality, to ultimately provide winning product creations for our customers, has always been at the core of our business principles. Bringing the strength of MAS Holdings together with Acme McCrary Corporation's 100 year heritage will provide our customers with a unique value proposition, which we are honoured to champion, going forward."
Since its beginnings in 1987, MAS Holdings has significantly expanded its operations in Sri Lanka, and employs over 70,000 associates on the island, in 40 locations. Its international expansions have added a further 15,000 associates in 14 countries, prior to these new investments.