Boeing [NYSE: BA] has announced the completion of its acquisition of KLX Aerospace Solutions to strengthen Boeing´s position in the USD 2.8 trillion, 10-year aerospace services market, the company said.
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.
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.
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.