Industry Boeing completes acquisition of parts distributor KLX Inc.

KLX Aerospace Solutions was acquired to enhance the manufacturer´s growing services business. Boeing hopes to deliver a greater value to its customers and to compete and win in the 10-year aerospace services market.

As major provider of aviation services and parts, KLX provides a strict path for Boeing´s services business. KLX markets and distributes service products for around 2,400 manufacturers. Therefore, the company´s capabilities also include distribution and supply chain services.

In addition, KLX is also a leading supplier for composites and chemicals. This branch complements Boeing´s portfolio. The manufacturer is now able to offer products to customers in commercial aviation, defense aviation, business aviation and general aviation.

"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."

KLX currently employs 2,000 people and will stay to operate from Miami. Besides the main headquarters, KLX operates offices for customer services in over 15 worldwide countries.

According to Boeing, the acquisition is aligned with their organic growth strategy and will have no impact on the capital deployment strategy or the commitment to return 100% of free cash flow to shareholders.

Boeing is a major multinational corporation, which is among the biggest aircraft manufacturers in the world. Headquarters are in Chicago, Illinois. Boeing recently announced the delivery of EVA Air´s and Air Tahiti Nui´s first Boeing 787-9 aircraft.