Veltex Corporation Update
DIAMOND BAR, Calif., Jun 10, 2003 /PRNewswire-FirstCall via COMTEX/ -- Veltex
Corporation (OTC: VLVT) announces today that business continues to be on target
and sales are starting to pick up as the economy seems to be getting stronger
and demand is picking up in our industries.
The progress with the audit continues to move ahead but is taking longer than
anticipated. So far, there have been no accounting irregularities found and
everything is going as intended. Veltex has decided not to set a finishing date
for the audit, but will keep investors informed as the audit is near completion.
Veltex continues to invest as demand grows to better serve our customers.
Additional phone lines have been installed to ensure the accessibility of
customers, suppliers, employees, and our dedicated shareholders.
Javeed Matin, CEO of Veltex Corporation quotes, "We are working hard to improve
sales and profits, as well as the financial strength of the company. Once
everything falls into place in 3-6 months, investors will take notice of Veltex
and we can take that big step in becoming a more respectable company."
Veltex Corporation is a diversified holding company composed of four divisions:
Trucking; Distribution, specializing in caps, apparel and apparel accessories
for the Promotional Products Industry; Manufacturing, specializing in the
manufacture of high quality fabrics including velvets, 100% cotton twill, denim,
sheeting for consumer and industrial products; and Marketing specializing in
online marketing and promotions for the vacation ownership industry. Please
visit our web sites for more information.
