Veltex Corporation (VLXC)

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Press ReleaseSource: Veltex Corporation
Veltex Corporation Purchased 40 Trailers
Tuesday February 25, 9:05 am ET
DIAMOND BAR, Calif.--(BUSINESS WIRE)--Feb. 25, 2003--Veltex Corporation (OTC: VLVT - News) has just purchased 40 trailers for its 40 truck fleet, which will add $192,000/mo. to generate an additional $2,304,000/year. The trailers have been financed through City Capital. All 40 trucks and trailers are owned and by Veltex Corporation.
Javeed Matin, CEO of Veltex Corporation said, "The 53 foot trailers will have a bigger impact on Veltex Corp.'s books. By having 40 trailers attached to our 40 trucks, the total yearly revenue will equate to $11,904,000."
"We are extremely happy to see our trailers wind up in good hands at Veltex Corp.; our company strives for perfection and we stand behind every trailer we sell," said James Verse, Sales manager of Southeast Trailers Georgia.
Veltex Corporation's current audit is expected to be completed by March 31, 2003. Audited financials will include the assessment of full year 2001 and 2002 financial records.
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.