The Hirdaramani Group, a leading Sri Lankan conglomerate, has issued a statement today to address recent social media reports regarding the closure of its leased facility, MRC Associates Garment (Pvt) Ltd, located in Meepe. The company clarified that the decision to close the facility was prompted by the current global economic situation, which has resulted in a decline in demand for apparel in key markets.

The Hirdaramani Group emphasized that this closure is a temporary measure and aims to ensure the sustainability and efficiency of its operations in the face of challenging market conditions. The company is providing its employees with the opportunity to relocate to other factories owned by the group across the island.

"The global economic landscape has posed significant challenges to the apparel industry, leading to a decrease in demand for our products," stated Ajay Hirdaramani, Director of the Hirdaramani Group. "We understand the impact this decision may have on our employees, and we are committed to supporting them through this transition by offering alternative employment opportunities within our organization."

While acknowledging the current reduction in capacity, the Hirdaramani Group remains optimistic about the future of the apparel industry. The company expects that normal demand will be restored in the near future, leading to a resurgence in the need for manufacturing facilities.

Addressing concerns over the group's long-term commitment to Sri Lanka's manufacturing sector, the Hirdaramani Group categorically stated that it has no intention of reducing its overall manufacturing capacity in the country. On the contrary, the company reaffirmed its dedication to investing in and expanding its operations as part of its long-term growth strategy. The Hirdaramani Group aims to foster the development of the apparel sector, contributing to the economic progress of Sri Lanka.