PDF Print E-mail
Written by Emerging Issuer   
Wednesday | 06 December 2006
Veltex Corporation
  SYMBOL: (OTC: VLXC)
 
 
Interview with Veltex Corporation's President and CEO,
Mr. Javeed Matin.
 
Veltex Corporate Headquarters
19977 Harrison Avenue
City of Industry, CA 91789

Phone: (909) 595-1977
Fax:     (909) 595-1969

http://www.veltexcorporation.com
 
 
MANAGEMENT TEAM
 
Javeed Matin
President/CEO

The management team is headed up Javeed Matin, who parlayed his experience in the trade finance business to acquiring a mill in the Southern U.S. that was ready to go under. In 1996, Matin purchased the looms and installed them in an ancient mill in Comilla, Bangladesh, where Velvet Textile Mills would first fly its flag. Three years later, Matin funded the growth of Velvet Textile through a reverse merger into a publicly trading shell in 1999.

In 2004, Matin and Veltex again went trolling for acquisitions, picking up KCA Garment near the end of the year. KCA's facilities employ 900 workers, churning out about $29-million worth of products during 2004 (all figures in U.S. dollars unless specified otherwise), a figure expected to rise by 20% during 2005.
 
STOCK FACTS
 
Authorized Shares: 200 million
Shares Outstanding: 18,141,309 (as of Sept. 21, 2006)
Active Float: 10,104,695
Revenues: $19.9 million in 2003, $40 million in 2004, $68 million in 2005 & $70 million in 2006 (projected)
52 Week High/Low: $3.90/$.625
COMPANY OVERVIEW
 

Veltex Corporation (OTC: VLXC) headquartered in City of Industry,California, with distribution center in USA, Canada and factories in bangladesh, is a vertical manufacturing and import/export company with five subsidiaries. It designs and manufactures caps and apparel for the promotional products industry. Also, it manufactures high quality, specialized textiles, primarily for use by manufacturers of automobile interiors, upholstery for furniture manufacturers, and ready to wear garments. It specializes in denim, microfilament, velvet, twill, canvas, duck and pinpoints oxford fabrics.

 
CORPORATE STRATEGY
 
Veltex is successful and growing rapidly, because it can custom manufacture for mass merchandisers, wholesalers, and can produce consumer brands. Factories in Bangladesh, including its large shirt manufacturer KCA Garment Industries, and Velvet Textile Mills, allow the Company to be extraordinarily competitive, offering its quality products at the lowest price of any major provider to the U.S. market. Labor costs in Bangladesh are 95 percent lower than the U.S., even though Veltex pays generous salaries by Bangladesh standards. Veltex now can produce the volume needed to sell to major warehouse club stores in the U.S. Also, Veltex does not use middlemen, dealing directly with its markets, which is key to profitability. Many of the materials are imported quota free into the U.S. Combine these advantages with a strong, experienced management team, excellent profit margins, and sales growth year-in, year-out.
 
THREE VELTEX SUBSIDIARIES
 
Velvet Textile Mills
Founded by Javeed Matin in 1994, Velvet Textile offers a complete line of textile products for virtually every use in industry and commerce. From first quality fabrics to irregulars, from mill ends to reclaimed rags, all Velvet Textile fabrics are prepared and shipped from convenient quality-controlled manufacturing facility.

KCA Garments Industries
KCA Garments Industries has grown into a conglomerate involved in textiles, garments, and wholesale trading. A subsidiary of the group, Veltex Corporation, KCA is an export oriented Knitting, Dyeing -Finishing and Garments manufacturing company located in BSCIC Industrial Estate, Tongi, Bangladesh. KCA’s vertically integrated factory is equipped with the most modern machineries from Europe, Japan, and Korea.

Veltex Apparel
Established in 1960, Veltex Appparel is an award-winning supplier and manufacturer of finely tailored apparel in today's contemporary fabrics and styles. It has distribution and manufacturing centers in Los Angeles California and Toronto Canada, which allow same day shipment on all orders.

Veltex Canada

Veltex-Explorer Inc.
Last Updated ( Tuesday | 13 May 2008 )
 
< Prev   Next >

Login

Links