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Veltex to promote John Daly branded products in US & Canada

28
Jul '05
California based apparel maker Veltex Corporation announced it had obtained licensing rights to market John Daly golf products and related accessories through the United States and Canada to the Promotional Products Industry. Furthermore, Veltex anticipates finalizing the acquisition of 50% of John Daly Enterprises in the near future.

John Daly is one of the most recognized and popular professional golfers in the world. Most recently, on July 25, 2005, he was paired with Tiger Woods at the 7th annual "Battle at the Bridges" match play at Rancho Santa Fe, California. Shown on ABC television, Daly was wearing a shirt produced by Veltex Corp, as he will be doing in all of his upcoming golf tournaments.

This licensing agreement will include a new line of John Daly branded products, such as sunglasses, baseball hats, and other related golf products and accessories.

Javeed Matin, CEO of Veltex Corp, commented, "This licensing agreement paves the way for significant near term sales of John Daly's branded products in the United States and Canada to the huge Promotional Products Industry. Company will continue to work on securing other important licensing agreements as well as expanding their international marketing reach with many new distributors offering their quality apparel and accessories. The 2005 revenue goal of $60 million in sales and approximately $1.00 per share in net earnings is realistic and on target."

Veltex Corporation is a vertical manufacturing import and distribution company composed of four divisions: Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry and distribution of merchandise in the U.S. market; Veltex Explorer, Inc. (Explorer Headgear), a manufacturing, import and distribution company for the Promotional Products Industry in Canada; Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, and sheeting for consumer and industrial products; and KCA Garment Industries, specializing in the manufacture of garments.

Veltex Corporation


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