Veltex Corporation (VLXC)

[Mastman]

Veltex Reports Strong Sales Results with Canadian Promotional Products Division
Monday September 12, 8:00 am ET


CITY OF INDUSTRY, Calif., Sept. 12 /PRNewswire-FirstCall/ -- Veltex Corporation (OTC: VLXC - News) today announced that it had achieved over $1.4 million in revenues since its acquisition of the Promotional Products division of Explorer Headgear (now known as Veltex Explorer) approximately three months ago. Furthermore Veltex Canada is now expanding into winter clothing with the addition of fleece jackets under the Everlast brand label, a strong quality brand since 1910. Traditionally this division had heavy emphasis on warm weather clothing.
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Veltex Canada has beefed up its cold weather inventory in anticipation of attaining $2 million+ in sales in the next three months.

Veltex Canada's Promotional Products division has selling (sub-licensing) rights to such well-known brand names as John Daly, Strata, Top Flite, Everlast and Coleman. A letter of credit has recently been opened to import fall inventory and many new products are under development.

In mid-August Veltex Canada secured many new distributors at a successful trade show in Calgary, Canada and further success is expected at the Toronto Trade Show (September 12th through the 14th)

Javeed Matin, CEO of Veltex Corp., commented, "Not only are we making strong progress with our Canadian operations, but our U.S. division continues to expand at a record pace, as we bring on new global distributors and expand our ever-growing product line. We obviously feel that our current share price is extremely undervalued relative to our record revenues and growth progress. Finally, we greatly appreciate out loyal shareholders and continue to work hard to justify their faith in our vision."

Veltex Corporation is a vertical manufacturing import and distribution company composed of four divisions: Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry and distribution of merchandise in the U.S. market; Veltex Explorer, Inc. (Explorer Headgear), a manufacturing, import and distribution company for the Promotional Products Industry in Canada; Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, and sheeting for consumer and industrial products; and KCA Garment Industries, specializing in the manufacture of garments.

Safe Harbor: 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 Reform 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.

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

http://www.explorergear.com




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Source: Veltex Corporation