MAS US Holdings, Inc. Receives Approval from US Commerce for Foreign Trade Zone Sites in Siler City and Asheboro

MAS US Holdings, Inc., a subsidiary company of Sri Lankan-based apparel and textile manufacturing company MAS Capital, was approved by the U.S. Department of Commerce for a Foreign Trade Zone (FTZ) sub-zone with sites at their Siler City and Asheboro locations. Once activated, the company can bring imported components or products into their facility and reduce, eliminate and/or defer tariff payments until the imports leave the facility. MAS US Holdings’ subzone is a distribution center, meaning imported products will be held for distribution to customers. MAS US Holdings’ application is indicative of a growing interest in the benefits and competitive […]