📈 MAS Holdings Pivots Methliya Plant to Fabric Manufacturing

MAS Holdings has announced a strategic restructuring at its Thulhiriya facility to counter a prolonged contraction in global demand for apparel & textiles. • Core Operation Shift: Garment manufacturing will cease at the Methliya plant, which will be repurposed for upstream textile production, specifically knitting, dyeing, and finishing. This leverages existing wet-processing infrastructure within the MAS Fabric Park. • Global Market Context: The decision follows sustained weakness in key export markets (US, EU, and UK) driven by inflation, economic slowdowns, and shifting trade policies. This aligns with MAS's global rationalization, including recent exits from Haiti and the Dominican Republic. • Workforce Impact: • Approximately 2,200 employees are affected. • Staff have been offered transfers to other local facilities or operations in Jordan with a three-month relocation incentive. • Those opting out will receive compensation exceeding statutory requirements, including full dues and wages through April 2026. • Operational Stability: Existing garment production capacity will be redistributed across other MAS apparel plants in Sri Lanka. All other MAS facilities currently remain unaffected. _Source: Based on provisional company announcement dated Feb 19, 2026._