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Knitting / Apparel

Veltex Acquires Garment Manufacturer

City of Industry, Calif.-based Veltex Corp. subsidiaries Veltex Apparel and Velvet Textile Mills have purchased Bangladesh-based shirt manufacturer KCA Garment Industries. Velvet Textile Mills will provide the cash portion of the acquisition, while KCA will receive Veltex Corp. common stock. Velvet Textile will manufacture woven textiles for KCA, which will manufacture the textiles into shirts, pants and other garments. Veltex Apparel will import and distribute the garments.

May 2004