B/E Aerospace Unveils Spin-Off Fastener Co. Plans
FEATURES
B/E Aerospace was trying to shop the company around to potential buyers when it decided in June to spin-off its Consumables Management business – primarily fasteners.
If B/E’s board members approve the move, the company would transfer Consumables operations to a newly created company, KLX Inc., according to documents file with the Securities and Exchange Commission.
The spin-off reportedly would take the form of a pro rata distribution of all shares of common stock of KLX to B/E shareholders.
KLX would sell fasteners and other consumable products to over 4,700 global customers using “the broadest and deepest product portfolio in the world with over one million SKUs valued at over $1 billion.”
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FIN subscribers can also view the last six years of B/E Aerospace’s fastener-business results by visiting the FIN Stock Review page on GlobalFastenerNews.com.
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