LOS ANGELES, Dec. 15 /PRNewswire/ -- Javeed Matin, President and CEO of
Veltex Corporation has returned from what he described as a very successful
trip to Bangladesh. Mr. Matin stated, "I can now concentrate on building a
team and resolving the remaining issues for our Form 10 filing, which would
bring Veltex back to Bulletin Board status."
VELTEX CORPORATION is a manufacturer and distributor of high-quality,
specialty textiles primarily for use by manufacturers of furniture, automobile
interiors, and ready-to-wear garments. Its manufacturing facilities, managed
by a former U.S. textile industry executive with more than 30 years
experience, are strategically located in Comilla, Bangladesh employing
315 people. This location permits quota-free importing to USA markets thereby
affording significantly higher profit margin potential than its competitors in
India and Pakistan. Company sales and distribution centers are located in the
prestigious California Mart in Los Angeles as well as in Canada, Europe, Asia
and Bangladesh.
Reader's Caution: Statements contained in this press release are based on
information provided by the company and are believed to be reliable. The
statements are not to be construed as investment advice. The Publisher as to
the financial condition, business, or other factors of the company. This
release may contain forward-looking statements within the meaning of the
private securities litigation reform act of 1995, such as expectations
regarding the planned dates for commencement of proposed projects and the
scope of those projects. Such forward-looking statements are inherently
uncertain, and the actual results may differ from management's expectations.
These uncertainties may include, without limitation, continued acceptance of
the company's products and services, increased levels of competition,
competitive new products and technological changes, and the company's
dependence upon financing, third-party suppliers, and intellectual property
rights. Further information on potential factors which could affect the
financial condition and results of operations of the company may be detailed
from time to time in the company's federal filings, annual report, offering
memorandum, or prospectus.
SOURCE Veltex Corporation
-0- 12/15/1999
/CONTACT: Al Kau of Veltex Corporation, 949-443-0200/
/Web site: veltex.com
CO: Veltex Corporation
ST: California, Bangladesh |
