Veltex Corporation (VLXC)

[dagnyish]

Did anyone see this? I got it from an obscure news service but can't seem to find it on the majors:

DIAMOND BAR, California, November 5, 2003, 2003 – Veltex Corporation (OTC Pink Sheets – VLVT) announced today the moving to new location with 5 times larger square feet of office and warehouse space in City of Industry, California, to accommodate growth in its Veltex Apparel subsidiary.

"After devoting most of this year to reorganizing Veltex Transportation, our trucking business, we are pleased to now focus on building Veltex Apparel," said Javeed Matin, Chairman and CEO of Veltex Corporation.

"Veltex Apparel has an unusual advantage of being a vertical producer of apparel, from manufacturing the textiles to sewing the garments to distributing the apparel - all within one company. Because of this, our costs are so low we can under-price our competition by from $0.50 to $2.00 per garment and still make more money 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 continued.

The new office and warehouse is located at 19977 Harrison Avenue, City of Industry, CA. The move has been taken place at the first week of November. Companies new phone number is 909-595-1977 and Fax [phone].

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.

http://www.veltexcorp.com http://www.veltexapparel.com http://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.

SOURCE Veltex Corporation