KLX Announces New Business Awards Valued at Approximately $300 Million

KLX Inc. announces major new business awards for its Aerospace Solutions Group (“ASG”) business. These new program awards represent significant market share gains and are initially valued at approximately $300 million in the aggregate.

Commenting on the new customer awards, Amin J. Khoury, Chairman and Chief Executive Officer of KLX noted, “We are very pleased to announce that GKN Aerospace, along with one large commercial OEM, two global OEM subcontractors and one military aftermarket customer have chosen to transfer to KLX all or a substantial portion of their supply of aerospace fasteners, engineered products and bin management services.”

Mr. Khoury continued, “These new customer awards highlight our continued focus on having the broadest and deepest portfolio of aerospace consumables parts and inventory management services worldwide, and further solidifies our position as the market leader. In all cases, these new program wins represent significant market share gains that reflect the differential value proposition we deliver to our customers. As indicated on our most recent earnings call, these new program awards were in the process of negotiation during the fourth quarter and have now been officially awarded to KLX. These new programs are expected to generate approximately $60 million per year in additional annual revenues after a 12 month transition period.”