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Indiaexportnews.com

Boeing to buy air parts firm KLX

  16.05.2018    

Boeing is to acquire KLX, an aviation parts and logistics company, for US$4.25 billion if KLX divests itself of its unit, Energy Services Group.
Boeing is especially interested in KLX's global parts distribution and supply chain services for the aerospace and defence industries worldwide. KLX will become part of Boeing Global Services and fully integrated with Aviall.
Boeing expects the inclusion of KLX to grow its services in what it estimates to be a $2.6 trillion market over the next decade, reported American Shipper.
"By combining the talent and product offerings of Aviall and KLX, we will provide a one-stop shop that will benefit our supply chain and our various customers in a meaningful way," said Boeing global services chief Stan Deal.
KLX's Aerospace Solutions Group fiscal year 2017 revenue was $1.4 billion. Boeing expects the acquisition to have a neutral earnings impact through 2019 and thereafter generate annual cost savings of up to $70 million by 2021.
Miami-based KLX has 2,000 employees with customer service centres in 15 countries. The company distributes aviation parts for 2,400 manufacturers and offers a catalogue of one million items.



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