August 24, 2019

Press Release

Boeing Completes Acquisition of Leading Aerospace Parts Distributor KLX Inc. to Enhance Growing Services Business

| 10/11/2018

CHICAGO -- Boeing [NYSE: BA] announced today that it has completed its acquisition of KLX Aerospace Solutions to enhance its growing services business and deliver greater value to its customers. The acquisition positions Boeing to compete and win in the $2.8 trillion, 10-year aerospace services market.

KLX, a major global provider of aviation parts and services in the aerospace industry, provides a clear path for Boeing's services business to accelerate growth. Its capabilities include distribution and supply chain services. KLX currently markets and distributes products for approximately 2,400 manufacturers and offers approximately 1 million catalog items.

KLX is also a leading supplier of chemicals and composites, which complements Aviall's portfolio, allowing Boeing to offer commercial, defense, business and general aviation customers a broader range of offerings.

"This acquisition brings together the talent and product offerings of Boeing and KLX to provide a one-stop shop that will allow us to create significant value for our customers. There are also extensive opportunities for services growth and innovation for Boeing and our supply chain that is unique to the industry," said Stan Deal, president and CEO of Boeing Global Services. "The resulting boost in supply chain capability will allow us to better serve our customers while profitably and purposefully growing our business."

With approximately 2,000 employees, KLX Aerospace Solutions will continue to operate from Miami with customer service centers located in more than 15 countries.

The acquisition is aligned with Boeing's organic growth strategy, with no change to Boeing's capital deployment strategy or commitment to returning approximately 100 percent of free cash flow to shareholders.

Boeing is the world's largest aerospace company and leading manufacturer of commercial airplanes and defense, space and security systems. Boeing is also the world leader in combined commercial airlines and government services with customers in more than 150 countries. The company's products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training. Boeing employs approximately 140,000 people across the United States and in more than 65 countries.

Tags: Manufacturing/Distribution, Transportation

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single digital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

Tampa Bay's homegrown chef competition
Tampa Bay's homegrown chef competition

Beginning at midnight, chefs Rob Reinsmith of Noble Crust and Jason Ruhe of Brick & Mortar threw down in Il Ritorno's kitchen. The hour long cook-off included two secret ingredients and as many dishes as the chefs could manage.

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

If you had the option to switch to a doctor who provides remote telehealth services via text, email or videos, what would be the main reason why?

  • Ease of access to health care provider
  • Faster service
  • Reduced costs
  • Time saver
  • Prescription renewal
  • Other

See Results

Florida Trend Magazine
490 1st Ave S
St Petersburg, FL 33701
727.821.5800

© Copyright 2019 Trend Magazines Inc. All rights reserved.