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Microcap & Penny Stocks : VLVT (was CSMA) -- Ignore unavailable to you. Want to Upgrade?

To: IBMikey who wrote (11288)	4/5/1999 6:33:00 PM
From: Rick Anders	Read Replies (2) \| Respond to of 11708

JUst for the REcord, Yahoo is about the most inefficient site around. This Came from DLJ. LOS ANGELES, Feb. 4 /PRNewswire/ -- Veltex Industries, Inc. (OTC Bulletin Board: VELT), a Los Angeles, CA manufacturer and distributor of textile products for automotive interiors and the ready-made garment industry announced today that it has signed a Letter of Intent for its subsidiary, Velvet Textile Mills, Ltd., to be acquired by Coconino S.M.A., Inc. (OTC Bulletin Board: CSMA). Veltex' first full year of operations ended December 31, 1998. Initial indications are that the company exceeded its projected sales of $3 million and was marginally profitable. Based on current sales contracts and production backlog, the Company projects sales for fiscal 1999 to reach $10 million, and year 2000 sales to top $25 million. The company's five year sales goal is $100 million. With over $7 million in manufacturing and plant facilities located in Bangladesh, the company is positioned to translate low labor costs typical of third world countries into competitive product pricing and profit margins. Operating out of its newly acquired, prestigious California Mart Building location in downtown Los Angeles, Veltex is ideally located to serve the vast textile and garment industries that are centered primarily in this west coast district and in the city of New York, NY. For further information please contact Veltex Industries investor relations representative, Michael Millis, at Irvine Capital & Communications. Telephone 949-733-9218 while markets are open and throughout normal West Coast business hours. Fax inquiries to 949-786-8208 or Email irvinecapcom@worldnet.att.net. SOURCE Veltex Industries, Inc. -0- 02/04/99 /CONTACT: Michael Millis of Irvine Capital & Communications, 949-733-9218, irvinecapcom@worldnet.att.net/ (VELT CSMA) CO: Veltex Industries, Inc.; Velvet Textile Mills, Ltd.; Coconino S.M.A., Inc. ST: Utah, California IN: TEX FIN REA SU: TNM MK-CM -- LATH042 -- 8194 02/04/99 09:30 EST prnewswire.com //Begin Meta Data// Selector Code: u...i Copyright 1999, PR Newswire -------------------------------------------------------------------------------- Login / Home / Portfolio Demo / Trading Demo / Market Monitor Quotes & News / Research & Ideas / Customer Service / Site Map -------------------------------------------------------------------------------- © 1998 DLJdirect Inc. All Rights Reserved. Member SIPC and NASD. Trademarks of DLJ Long Term Investment Corporation.