European Commission Clears Acquisition of KLX by Boeing

The European Commission has approved, under the EU Merger Regulation, the acquisition of KLX Inc. by The Boeing Company, both of the US. KLX is a distributor of aerospace parts and chemicals, including in particular aerospace fasteners. Boeing is active in the aircraft, defence and space industries and related services, and is also a supplier of security systems and provider of aftermarket services for the aerospace market, including the distribution of aerospace parts and chemicals. Both companies are active across the European Economic Area, as well as worldwide. The Commission concluded that the proposed acquisition would raise no competition concerns because the companies' activities in the distribution of aerospace parts are, to a large extent, complementary, and they face the constraint of several alternative competitors. The transaction was examined under the normal merger review procedure.