Veltex is marketing and distributing Top-Flite caps, balls, and golf products throughout Canada due to its recent acquisition of the Promotional Products Division of Explorer Headgear, which held the distribution rights to Top-Flite in Canada. This new division of Veltex was renamed “Veltex Canada,” DBA Veltex-Explorer. Veltex forecasts that 2005 total revenues will exceed $60 million with net earnings easily surpassing $1.00 per share, or $10 million.
In a prepared statement, Javeed Matin, CEO of Veltex Corporation, stated, “ This will further serve to rapidly expand our entry into the golf merchandising and promotional products industries. Veltex Explorer is on target to add approximately $7 million to our revenue stream this year.”
