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Veltex acquires Canadian textile supplier
By Staff -- Home Textiles Today, 5/3/2006 1:11:00 PM
City of Industry, Calif. – Veltex Corporation has acquired a diversified Canadian wholesaler that includes a unit that provides velvets, sheeting and related products. Veltex ceo Javeed Matin said as a result of the acquisition, Veltex now holds "contracts with 16 major retailers throughout Canada, among them, Costco, Sears, Bay and Zellers."
The soft home unit will do business as Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim and sheeting for consumer and industrial products.
Veltex recently reported 2005 revenues of $68.5 million, derived from manufacturing, supplying and licensing in apparel, home and promotional goods.
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