Es wird Zeit einen eigenen Thraed für Veltex aufzumachen.
CITY OF INDUSTRY, Calif., Nov. 11 /PRNewswire-FirstCall/ -- Veltex Corporation announced today it has moved its office and warehouse to a location in the City of Industry, California that has five times as much square footage than its previous facility.
The additional space will accommodate growth of its Veltex Apparel subsidiary, said Veltex Corporation Chairman and CEO Javeed Matin.
"After devoting most of this year to reorganizing Veltex Transportation, our trucking business, we are focusing on building Veltex Apparel," said Matin.
"Veltex Apparel has an advantage of being a vertical producer of apparel, from manufacturing the textiles to sewing the garments to distributing the apparel -- all within one company. This structure provides lower overall costs and allows us to price our garments very competitively with larger target margins than if we were simply importing the garments for distribution as many of our competitors do. By moving to this new larger facility, we are bringing our inventory under one roof, saving money and improving our inventory control," he said.
The new office and warehouse are located at 19977 Harrison Avenue, City of Industry, CA. 91789. The move is scheduled to be completed this week. The new phone number is 909-595-1977 and the fax is 909-595-1969.
Matin said the company expects that the audit of its 2002 financial results should be completed within the month, and the company expects to release its unaudited 2003 quarterly results in conjunction with the annual financials release.
Veltex Corporation is a diversified holding company composed of three divisions: Veltex Transportation, a trucking company; Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry; Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, sheeting for consumer and industrial products. Its websites are: www.veltexcorp.com/
www.veltexapparel.com/
www.veltextransportation.com/ Safe Harbor forward-looking statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reforms Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to replace and expand.
CONTACT: Karri Chew of Veltex Corporation, +1-909-595-1977
Web site: www.veltex.com/
Copyright 2003 PRNewswire
Issued: 11/11/2003 02:00 PM GMT
CITY OF INDUSTRY, Calif., Nov. 11 /PRNewswire-FirstCall/ -- Veltex Corporation announced today it has moved its office and warehouse to a location in the City of Industry, California that has five times as much square footage than its previous facility.
The additional space will accommodate growth of its Veltex Apparel subsidiary, said Veltex Corporation Chairman and CEO Javeed Matin.
"After devoting most of this year to reorganizing Veltex Transportation, our trucking business, we are focusing on building Veltex Apparel," said Matin.
"Veltex Apparel has an advantage of being a vertical producer of apparel, from manufacturing the textiles to sewing the garments to distributing the apparel -- all within one company. This structure provides lower overall costs and allows us to price our garments very competitively with larger target margins than if we were simply importing the garments for distribution as many of our competitors do. By moving to this new larger facility, we are bringing our inventory under one roof, saving money and improving our inventory control," he said.
The new office and warehouse are located at 19977 Harrison Avenue, City of Industry, CA. 91789. The move is scheduled to be completed this week. The new phone number is 909-595-1977 and the fax is 909-595-1969.
Matin said the company expects that the audit of its 2002 financial results should be completed within the month, and the company expects to release its unaudited 2003 quarterly results in conjunction with the annual financials release.
Veltex Corporation is a diversified holding company composed of three divisions: Veltex Transportation, a trucking company; Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry; Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, sheeting for consumer and industrial products. Its websites are: www.veltexcorp.com/
www.veltexapparel.com/
www.veltextransportation.com/ Safe Harbor forward-looking statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reforms Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to replace and expand.
CONTACT: Karri Chew of Veltex Corporation, +1-909-595-1977
Web site: www.veltex.com/
Copyright 2003 PRNewswire
Issued: 11/11/2003 02:00 PM GMT
