Hayleys Fabric PLC, formerly known as Hayleys MGT Knitting Mills, is a knitted fabric manufacturing company in Sri Lanka. Hayleys MGT Knitting Mills was founded in 1993 as a joint venture between Hayleys and MGT Knitting Mills of Australia. The company was listed on the Colombo Stock Exchange in 2003. A fraud incident which was dubbed the biggest in a listed company in Sri Lanka rocked the company in 2011. The company adopted its current name, Hayleys Fabric in 2015. Hayleys Fabric acquired South Asia Textiles Ltd for LKR3.9 billion from Ambeon Holdings in 2021. As a result of the acquisition, Hayleys Fabric became the largest fabric manufacturer in Sri Lanka by exceeding the processing capacity of its closest competitor, Teejay Lanka. Hayleys Fabric is one of the LMD 100 companies in Sri Lanka.
History
Hayleys MGT Knitting Mills was founded as a joint venture between Hayleys and MGT Knitting Mills of Australia in 1993.[2] Hayleys ADC Textiles, another joint venture between Hayleys and Australia Dyeing Company formed in 1992.[3] Hayleys ADC Textiles was made a wholly owned subsidiary of Hayleys MGT Knitting Mills in 2001, and in 2007, the two companies merged.[1]