VELTEX CORP (VLXC) - Description of business
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Veltex Corporation 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.
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.MISSION
Veltex Corporation is committed to providing superior apparel and textile products to the U.S. at the lowest possible price and with delivery times superior to any in the industry. It is equally committed to always exceeding customer and shareholder value expectations.