Fabric maker and distributor Veltex Corp will this week complete its move to its new headquarters on the outskirts of Los Angeles.

The company, which operates a plant in Bangladesh, will move to new offices in Diamond Bar and said in a news release "the extra space (is) needed for the tremendous growth we expect to encounter over the next year and beyond".

Veltex added it sees fiscal 2003 revenues of $33 million and a full-year net profit of $8.6m.