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​Boeing completes acquisition of global aerospace parts supplier

Xinhua Financein SAN FRANCISCO
2018-10-10 10:23

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U.S. top aircraft manufacturer Boeing Company announced Tuesday its acquisition of the world's major aerospace parts and service provider, KLX Inc., which would sharpen Boeing's competitive edge on a 10-year aerospace services market worth about 2.8 trillion U.S. dollars.

Boeing did not disclose the specific amount of the deal, but it attached great importance to the capabilities of KLX's distribution and supply chain services. KLX currently markets products for approximately 2,400 manufacturers and offers about 1 million catalog items.

Boeing said it plans to integrate the business of a KLX division, the KLX Aerospace Solutions, to complement Aviall, a Boeing-owned parts and services provider, so as to allow Boeing to offer a broader range of products and services to its commercial, defense, business and general aviation customers.

"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," said Stan Deal, president and CEO of Boeing Global Services.

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

In 2016, Boeing unveiled plans to merge all of its services business into what is now unit to boost its aftermarket expansion.

Earlier reports said Boeing Global Services has posted about 8 billion dollars in revenues in the first half of this year.
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