As announced in this June 2014 press release, the B/E Aerospace Consumables Management and Interturbine businesses will separate from the B/E Aerospace manufacturing businesses to form a new, publicly-traded company known as KLX Inc. While the spin-off is anticipated to receive the necessary approvals within 2014, there will be no operational or name changes until January 2015.
B/E Aerospace Consumables Management and Interturbine will be integrated to form 80% of KLX Inc. (NASDAQ), and will be known as KLX Aerospace Solutions in early 2015. The remaining 20% will be known as KLX Energy Services, comprising oil and gas logistics services. Importantly, none of these changes are in effect today, and all are pending regulatory approvals.
As a new entity, KLX leadership is as follows: Amin Khoury, Chairman and Founder of B/E Aerospace will be the Executive Chairman and CEO of KLX Inc., and B/E’s current Senior Vice President and CFO, Tom McCaffrey, will be President and COO of KLX Inc. The KLX Aerospace Solutions segment will be led by current B/E CM Group Vice President and General Manager, John Cuomo.
Name Change as a Result of the Spin-Off
The purpose of this letter is to inform you that while we anticipate the spin-off (separation from B/E) being approved within the 2014 calendar year, the related name change and operational factors that impact our stakeholders will occur later (expected in early January 2015). You will receive direct and specific communication in advance of any name change requests.
For now, no changes should be made within your systems or operations
with B/E Aerospace Consumables Management or Interturbine.
All change requirements will be communicated in advance, with specific actions and timelines. Please make no changes at this time; the spin-off is still pending legal and regulatory requirements, and the name change activities are not in immediate effect upon the spin-off. Please visit www.BEConsumables.com and www.KLX.com for updates.
Thank you for your continued partnership. We are excited about this new opportunity for growth and investment, and we look forward to working with you as KLX Aerospace Solutions in 2015 and beyond.
Group Vice President and General Manager
B/E Aerospace Consumables Management