Boeing Announces Plans to Acquire KLX Aerospace Solutions
01 May 2018
WE HAVE EXCITING NEWS! BOEING ANNOUNCES PLANS TO ACQUIRE KLX AEROSPACE SOLUTIONS
Boeing [NYSE: BA] and KLX Inc. [NASDAQ: KLXI] announced today that they have entered into a definitive agreement for Boeing to acquire KLX Aerospace Solutions (KLX), following the complete divestment and separation of KLX Inc.’s energy business. Upon 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. Together, Aviall and KLX will create the premier provider of parts and productivity services, offering customers and suppliers value through the broadest range of products, services and customers in the industry.
By joining forces with Aviall, we are combining two clear market leaders with complementary capabilities in distribution, consumables and expendables product mix and value-added service solutions serving all aircraft types and customer markets around the globe. We share a culture of customer service excellence, innovation, inventory availability, quality and on-time delivery, and we are excited at the new business development opportunities that our two companies will pursue together. As the transactions require approval by a majority of KLX shareholders and regulatory approvals, on advice of counsel, customary disclosures are included at the end of this letter.
See the Boeing press release here
and the KLX Inc. press release here