Textiles & Apparel / Garment

2025-09-18

Toray Industries and MAS Holdings announce Joint Venture in Odisha, India

Toray Industries (H.K.) Ltd., has officially entered a joint venture with South Asia’s largest apparel manufacturer MAS Holdings, marking a unique opportunity to enhance the two companies’ supply chain capabilities and pursue product manufacturing within and for the fast-growing Indian market. The joint venture, operating under the name Toray MAS Apparel India, will see the establishment of a new manufacturing facility at the MAS Apparel Park Bhuinpur in Odisha, India, which is currently under development.

from left to right: Yasukochi Akira - Sales Director, Toray MAS Apparel India, Teruki Umeda - Managing Director, Toray MAS Apparel India, Teruo Funhashi - Managing Director, Toray Hong Kong, Malik Ahamadeen - CEO, MAS India, Suren Fernando - Group CEO, MAS Holdings, Shakthi Ranatunga - Chief Operating Officer, MAS Holdings, Rajitha Jayasuriya - Director, Corporate Affairs, MAS Holdings, Sid Amalean, Director – Innovation & Business Strategy, MAS Holdings, Surath Chandrasena, Finance Director, MAS Holdings. © 2025 Toray MAS Apparel India

The groundbreaking for the MAS Apparel Park took place earlier this year in March 2025, with operations expected to commence in early 2026. The new facility is aimed at catering to both current and potential customers in the region, supporting the growing demand for high-quality, innovative textile solutions.

The official signing ceremony for the partnership took place in June at the MAS Head Office in Colombo, with Teruo Funahashi, Managing Director of Toray Hong Kong, and Suren Fernando, Group Chief Executive Officer of MAS Holdings, representing the two organizations.

Commenting on the partnership, Teruo Funahashi, Managing Director of Toray Hong Kong, said “Toray MAS Apparel India will contribute to local employment and economic growth by manufacturing advanced, top-quality offerings. That company will serve as a garment stronghold in India for Toray and MAS Holdings, reinforcing their partnership by deploying strategies that capitalize on their capabilities”.

Suren Fernando, Group CEO of MAS Holdings stated "This joint venture marks a significant step forward in strengthening our global supply network and deepening our partnership with Toray Industries. The Odisha facility will play a key role in supporting our customers’ evolving needs, driving innovation and contributing to regional economic development. In today’s global economic landscape, strategic partnerships like this are key to enhancing our capabilities and continuing to deliver value-added solutions to our customers."

The collaboration builds on MAS Holdings' extensive apparel manufacturing expertise and Toray Industries' advanced material technologies, positioning Toray MAS to deliver innovative products to global brands while fostering economic growth and job creation in Odisha.

The operation being set up aims to advance sustainability by incorporating renewable energy solutions such as rooftop solar PV, energy-efficient technologies across operations, and advanced water and wastewater management systems. The facility is also being designed to ensure universal accessibility, integrating environmentally responsible practices in waste and chemical management, aligning its future operations with both environmental stewardship and social responsibility.