Veltex Corporation (VLXC)

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VLVT NEWS !! >


Veltex Corporation Announces New President
DIAMOND BAR, Calif., March 6 /PRNewswire-FirstCall/ -- Veltex Corporation (OTC: VLVT) announced today that Roger Brunetti has been promoted from Vice President to acting President. Roger has an extensive background in business with over 30 years in management experience. Commenting on the future of Veltex, Mr. Brunetti says, "The management team is strategically moving Veltex Corporation forward progressively. We have diversified our revenue stream successfully and continue to grow our business despite the economic conditions. I am excited to help lead Veltex towards a bright future."
The audit is still expected to be completed on schedule. Veltex has completed the funding of the Veltex trucking division for the present time and management is considering all options to increase earnings and share price. Javeed Matin, CEO states, "A stock buyback might be a good option for our company in the future. While we will continue to make substantial investment in our businesses, buying back stock is an option we are considering to increase the value of our stock. We will make further announcements if we decide to conduct a buyback in the future. Being a large shareholder I would like to see the value of Veltex realized in the marketplace."
Veltex Corporation recently purchased 40 brand new 2003 trailers for its 40 truck fleet.