Boeing has entered an agreement to acquire KLX, an aviation parts and services provider in an all-cash transaction for $63 per share, approximately $1 billion of net debt, totalling $4.25 billion.
Boeing's acquisition of KLX Inc. will include KLX Inc.'s Aerospace Solutions Group, and is conditional upon the successful divestment and separation of KLX Inc.'s Energy Services Group, the company said in a statement Tuesday.
KLX Inc. capabilities include global parts distribution and supply chain services for aerospace and defense industries worldwide. It will be part of Boeing Global Services and fully integrated with Aviall. KLX Inc. is also a supplier of chemical composites, with this combination broadening the scope of what Aviall can offer to customers in this space.
KLX Inc.'s Aerospace Solutions Group FY2017 revenue was $1.4 billion. Boeing expects the acquisition to have a neutral earnings impact through 2019 and accretion thereafter, with annual cost savings growing to approximately $70 million by 2021 and further improvements realized over time. The transaction will be financed primarily with cash on hand, supplemented with debt.
The completion of the transaction is subject to customary conditions, including regulatory clearance and the approval by a majority of KLX Inc. shareholders. The sale is expected to close by 3Q 2018. The transaction is also subject to the successful divestment and separation of KLX Inc.'s Energy Services Group, Boeing said in a statement.
Boeing has won $96.3 million contract for production services in support of the 36 AH-64E Apache helicopters to South Korea
Boeings KC-46 tanker program has completed all required Supplemental Type Certificate (STC) flight tests following a successful refueling/communications flight with a C-17 Globemaster III. The STC encompasses the military systems installed on the 767-2C aircraft to make it a tanker, and is one of two required FAA airworthiness certifications
Boeing and Rohde & Schwarz have reached an agreement to offer Rohde & Schwarzs next-generation software-defined airborne radio (SDAR) into the flight systems of H-47 Chinook helicopters. The R&S SDAR will give operators of the Boeing-built Chinook significant communications capabilities
Airbus, Lockheed Martin and Boeing have bid for Germany's plan to replace its fleet of 90 Tornado fighter jets. The German MoD had sought information from Lockheed Martin about its F-35 fighter jet and Boeing for their F-15E and F/A-18E/F fighter jets
Boeing announced Monday its investment in Morf3D, an El Segundo, metal-based additive engineering and manufacturing firm. Morf3D's technology enables lighter and stronger 3D-printed parts for aerospace applications
Boeing will acquire Millennium Space Systems, a provider of agile, flight-proven small-satellite solutions, under an acquisition agreement that will expand Boeing's satellite and space portfolio. "Millennium Space Systems' expertise in vertically-integrated small-satellite solutions perfectly complements Boeing's existing satellite portfolio, and will allow us to meet the needs of a diverse customer set," said Leanne Caret, president and CEO of Boeing Defense, Space & Security
The World Trade Organization (WTO) today in its final decision found that the European Union (EU) has failed to honor multiple previous rulings and has provided more than $22 billion of illegal subsidies to European aircraft maker Airbus. After examining this case for more than a decade, the WTO has determined the EU must end its unfair business practices and remedy the ongoing harm caused by the illegal subsidies, Boeing said in a statement Tesday
Boeing has been awarded $14 million contract for the production of 266 fuse assemblies for US Air Force air launched missiles. Work is expected to be complete by May 2022, US department of defense said in a statement Thursday
Boeing, through its subsidiary Aviall, will help production of the Advanced High-Performance Reconnaissance Light Aircraft (AHRLAC), developed by South African Paramount Group in the US. Aviall also is joining the recently launched industry team Bronco Combat Systems to bring the Bronco II aircraft to the US market
Israel Gets Two More F-35 “Adir” Jets
Israel Aerospace Secures $50M MRSAM Missile Maintenance Deal with Indian Navy
F-35 Cost to Rise if Turkey Expelled From Program: Former Turkish Foreign...
China Develops Tech to Reduce Fatigue of Helicopter Rotors
China Displays ‘Upgraded’ FC-31 Stealth Jet Model at Paris Airshow 2019
Dearth of Fighter Jets In Paris Air Show Aerial Displays
India To Give The Final Go-ahead To $1.7 Billion C-295 Transport Aircraft
Design of Russian-made 'World's Fastest Helicopter' Ready
US companies sanctioned by China for supplying weapons to Taiwan may be denied rare earth elements (REEs), which have critical...
While the US F-35 stealth aircraft has become one the fastest selling fighter jets in the world aircraft market, thanks...
Russian state-run Almaz-Antey has released additional data on its latest export-version of Buk-M3 Viking air defense missile system (ADMS)
The MiG-29, one of Russias most exported military jet has been upgraded in India that expands its capabilities from an...
Russian fifth generation fighter aircraft (FGFA) Su-57 will for the first time perform flights during the ARMY 2018 event near...
The American-made Patriot and Russian S-400 Triumf air defense systems are currently hogging international orders despite their price tags running...