KLX Inc. Announces Major New Business Award and Market Share Gain
July 12, 2018 - 5:42 PM EDT
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KLX Inc. Announces Major New Business Award and Market Share Gain
WELLINGTON, Fla., July 12, 2018 (GLOBE NEWSWIRE) -- KLX Inc. (“KLX” or the “Company”) (NASDAQ:KLXI), a leading distributor and value added service provider of aerospace fasteners and consumables, and a provider of services and products to the oil and gas exploration and production industry, announces a major new business award for its Aerospace Solutions Group (“ASG”) business. This major new program award with Bell Helicopter, a Textron Inc. (NYSE: TXT) company, represents a significant market share gain for KLX.
The partnership with Bell and KLX represents a 5-year parts, products, services and solutions agreement in support of Bell’s commercial and military aircraft production, as well as their global spares support business. The agreement will support platforms across 12 Bell facilities throughout North America, Northern Europe and Singapore.
Bell’s Executive Vice President of Integrated Operations, Paul Watts stated, “Bell is proud to collaborate with KLX and recognizes their strategic approach to invest in systems, technologies and services which will increase productivity and provide valuable data that can be analyzed and used for planning and forecasting. It’s a win-win for all of us.”
KLX Chairman and Chief Executive Officer, Amin J. Khoury says, “KLX’s ability to provide a comprehensive range of production support services and innovative vendor managed inventory solutions at Bell’s facilities was an important factor in this decision. We look forward to a long-term relationship and to supporting the future vision of Bell.”
About KLX
KLX Inc., through its two operating segments, provides mission critical products and complex logistical solutions to support its customers’ high value assets. KLX serves its customers in demanding environments that face high cost of downtime and require dependable, high quality just-in-time customer support. The Aerospace Solutions Group is a leading distributor and value added service provider of aerospace fasteners and consumables offering the broadest range of aerospace hardware and consumables and inventory management services worldwide. The Energy Services Group provides vital services and products to oil and gas exploration and production companies on an episodic, 24/7 basis. For more information, visit the KLX website at www.KLX.com.
About Bell
Thinking above and beyond is what we do. For more than 80 years, we’ve been reimagining the experience of flight – and where it can take us. We are pioneers. We were the first to break the sound barrier and to certify a commercial helicopter. We were aboard NASA’s first lunar mission and brought advanced tiltrotor systems to market. Today, we’re defining the future of on-demand mobility.
Headquartered in Fort Worth, Texas – as a wholly-owned subsidiary of Textron Inc., – we have strategic locations around the globe. And with nearly one quarter of our workforce having served, helping our military achieve their missions is a passion of ours. Above all, our breakthrough innovations deliver exceptional experiences to our customers. Efficiently. Reliably. And always, with safety at the forefront.
Contact Information
Michael Perlman Director, Investor Relations KLX Inc. (561) 791-5435
