Home / Knowledge / News / Apparel/Garments / Veltex Chicago warehouse to be used as apparel distribution center

Veltex Chicago warehouse to be used as apparel distribution center

Dec '06
Veltex Corporation announced the acquisition of 100% ownership of Mt. Zion Gas Inc, which owns a 88,000 Square foot property located in Mt. Zion, Chicago. The property address is 1515 N. State Highway 121, Mt. Zion, IL 62549.

Veltex Corporation is a holding company, and we are pleased to add this oil and gas property to our holdings. The property currently has a viable operating gas station with an attached grocery store, which will add a projected $3 million a year in revenue.

In addition, there is a 5,000 square foot warehouse located on the property, which will be used as our Veltex Apparel distribution center for the greater Midwest region. Chicago is one of the largest markets for the Promotional Apparel business. This warehouse will be used for the Chicago distribution center.

Javeed Matin, CEO of Veltex Corporation, stated, "This property made perfect sense for Veltex Corporation to own, as we are constantly looking to increase shareholder value. The property already has a revenue stream through its operating gas station and grocery store, which will add a projected $3 million a year in revenue for Veltex with 5-10% net profit."

He added, "In addition to having a proven revenue stream, there is a 5,000 SF warehouse that will be utilized for distribution to the Midwest region for our garment and apparel businesses. This will allow us to increase inventory and better assist our customers' needs at a faster pace."

Veltex Corporation is currently negotiating another property acquisition and looks to make an announcement on that subject within the next 30 days.

Veltex Corporation previously announced earnings per share of $0.29, and revenue of over $53 million through the first nine months of 2006. A copy of the company's full financial report can be found at the company's website.

Veltex Corporation

Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 20th Feb 2020

Bangla garment accessories sector may lose Tk 1500 cr

Bangladesh's garments accessories and packaging sector may incur a...

Pic: Shutterstock

Textiles | On 20th Feb 2020

CV outbreak lowered China's cotton consumption: USDA

The novel coronavirus (CV) outbreak and its potential ramifications...

Pic: freemind-production / Shutterstock.com

Retail | On 20th Feb 2020

Authentic Brands announces acquisition of Forever 21

Authentic Brands Group (ABG), a global brand development, marketing,...

Interviews View All

Top executives, Fabric manufacturers

Top executives
Fabric manufacturers

Domestic manufacturers would get an edge over imported products

Spokesperson, Hugo Boss

Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Saket Garg, Garg Corporation

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Simon Daplyn,

Simon Daplyn

Switzerland-based Sensient Imaging Technologies is a pioneer with a global ...

Hans Gerhard Wroblowski,

Hans Gerhard Wroblowski

Germany's Monforts is a leading manufacturer and exporter of textile...

Farheen B Rahman & Priti Jain,

Farheen B Rahman & Priti Jain

Founded by business-designer duo <b>Priti Jain and Farheen Rahman</b>,...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search