USA: Veltex Buys Bangladeshi KCA Garment Industries
The purchase, for which Velvet Textile Mills will supply the cash portion, is expected to make Veltex competitive in the lucrative membership warehouse store and mass merchandiser marketplace.
Through the deal, Velvet will produce woven textiles for KCA to manufacture into shirts, pants and other garments, cutting out middleman costs.
Veltex Apparel, in turn, will import and distribute the garments, further cutting costs and resulting in a price advantage for the corporation.
KCA will also receive VLVT common stock as part of the deal.
Apparel merchandiser Veltex said it is "very close to finalising an agreement to acquire a major retail supply company". The company also reported full-year unaudited revenue of US$68.61m....
Apparel and accessories maker and distributor Veltex Corporation says it is planning to expand distribution of golf apparel and related golfing products globally....
Apparel company Veltex Corporation has completed its purchase of a Canadian promotional products company that it has not yet identified, and says it will remain the new unit Veltex Canada....
Veltex Corporation, a vertical manufacturing, import and distribution company for apparel and accessories, has completed the establishment of its new Canadian operations....
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