Veltex Corporation (VLXC)

[Growth And Value]

I tried to!

I tried to buy a modest 1,000 right near the close at 0.78, but my order didn't get filled, the ask went up to 0.82.

I agree with you that $0.75 is an important (hopefully support) level.

I'm also holding some $$$ just in case it does go to $0.50.

The key to me is (Is K.C.A. for real and generating 2.2 million as Matin has claimed in the past)?

I'm confident that K.C.A. is for real, but proving the numbers is very hard. Here is what I have found:

Factory Profile - Overview Overview Detailed Profile Product Portfolio

KCA Garments Industry Ltd.
Add to my address book(Only for Buyer)
Factory Head
:
Mohammed Zakir Hossain

Designation : M.D.


Contact Information
Contact Person
:
Mohammed Zakir Hossain

Designation : M.D.

Fax : [phone] ,

Est. Year : 1994

Factory Address : 109, South Goran , Dhaka-1219, Bangladesh.


Veltex Bangladesh Sales office:

Delta Dahlia Tower,
36 Kemal Ataturk Avenue,
Suite # 2/B,
Banani,
Dhaka 1213,
Bangladesh. 
Telephone:     . 011+880-2-9886551, 9882185-6 
Fax:     . 011+880-2-9886551 

http://www.bdtradeinfo.com/yellowpages/search.asp?search=Veltex&B1=GO

I called the 011-880-2-9886551 number and did reach a women who said this was Veltex. It was hard to talk to her though.

Veltex Corp., USA, has signed a letter of intent to buy KCA Garment Industries of Dhaka, Bangladesh, as part of the expansion of its Veltex Apparel apparel division.
One of the largest shirt manufacturers in the Dhaka area, KCA had sales of $14.1 million in 2003. The company has been manufacturing woven shirts and pants since 1988. It employs around 750 people and operates in a 30,000 sq. ft. plant and warehouse facility.

http://www.bangladeshgarments.info/bgmea/y_pages/apparel/common/index.cfm

http://money.cnn.com/news/deals/mergers/reports/669414040.html

Javeed Matin, CEO of Veltex Corporation, commented, "We are very pleased to consummate this acquisition as KCA Garment Industries is one of the largest garment manufacturing plants in Bangladesh with 900 full time employees. This will allow Veltex to be extraordinarily competitive, offering its quality products at the lowest price of any major provider to the U.S. market, as labor costs in Bangladesh are 95 percent lower than the U.S. This year KCA will do about $20 million in total sales with $2.2 million in net income and we expect the company's sales will increase an additional 20% in 2005.

http://www.globeinvestor.com/servlet/ArticleNews/print/PRNEWS/20041227/2004_12_27_09_3114_1281940

Sorry if I'm boring you with the details, but this is what I know, which isn't very much!! Good Luck G&V