MAS Holdings, a global apparel technology and manufacturing company based in Sri Lanka, will locate its first U.S. manufacturing and development center in Randolph County, creating 133 new jobs.
The company plans to invest nearly $20 million in the facility. The project is connected to MAS’s pending acquisition of the manufacturing assets of Acme-McCrary, a 108-year-old textile manufacturer located in Asheboro with additional facilities in Chatham County and the Republic of Honduras. MAS plans to create the new positions while retaining existing Acme-McCrary jobs in North Carolina. Acme-McCrary produces legwear and active wear for large U.S. retailers.
“We are delighted to be associated with Acme-McCrary, whose values and philosophy are very much in alignment with MAS,” said Mahesh Amalean, chairman of MAS Holdings. “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 U.S.”
“We are pleased to be a part of MAS Holdings’ location of a manufacturing facility in our hemisphere,” said W.H. Redding Jr., chairman of Acme-McCrary. “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.”
MAS is an innovative textile company 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. MAS also provides technology solutions to the apparel and footwear industry.
Recently, the company has been working to integrate technology into clothing, partnering with Silicon Valley and New York startups in the fields of wearable technology and health and wellness.
Gov. Roy Cooper announced the MAS project on Monday. “North Carolina enjoys a worldwide reputation as a center for textile research and workers,” he said. “Our excellent business climate and location offer international firms an ideal place to reach and serve customers in the United States.”
A $575,000 performance-based grant from the One North Carolina Fund will support the project in Randolph County. The grant requires MAS meet its job creation target while retaining the 374 existing Acme-McCrary jobs in the state.
The One North Carolina Fund supports local government efforts to attract economic investment and create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. One NC awards require a matching grant from local governments.
“We are appreciative of the support and assistance extended to us by the state, county, city and its officials, and look forward to integrating and contributing to the community in North Carolina,” Amalean said.
The North Carolina Department of Commerce and the Economic Development Partnership of North Carolina led the state’s response to the company’s search for a business location. Other key partners include the North Carolina General Assembly, the North Carolina Community College System, North Carolina State University, Duke Energy, the city of Asheboro, Randolph County and the Randolph County Economic Development Corporation.