Boeing acquires aerospace parts distributor KLX
Boeing completes the acquisition of aviation parts and services provider KLX Aerospace Solutions, in hopes to position itself to compete “and win” in the $2.8 trillion, 10-year aerospace services market, both companies reported on October 9, 2018. The acquisition was first announced in May 2018, following the complete divestment and separation of KLX’s energy business.
KLX is a provider of aviation parts and services. It supplies chemicals and composites, which “complements Aviall's portfolio, allowing Boeing to offer commercial, defense, business and general aviation customers a broader range of offerings,” Boeing notes in a statement.
The reference is not accidental. Back in May 2018, while announcing plans of the acquisition, KLX’s statement also read: “Upon [deal] closing, KLX will merge with Aviall, Boeing’s wholly owned aerospace parts and services provider, and become part of the Boeing Global Services family of companies”.
However, “with approximately 2,000 employees, KLX Aerospace Solutions will continue to operate from Miami with customer service centers located in more than 15 countries,” Boeing assures.
KLX completed the spin-off of its energy business − KLX Energy Services − in September 2018. “Starting today […] KLX common stock will no longer include the value of KLX Energy Services,” the company announced on September 17, 2018.
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