B/E Aerospace, Inc. (“B/E” or the “Company”) (NASDAQ:BEAV) announced
today a further step in its previously announced separation of its
Consumables Management Segment, consisting of the Company’s aerospace
distribution and energy services businesses, through a distribution, or
spin-off, to the Company’s shareholders. The Company’s subsidiary KLX
Inc. (“KLX”), to which the separated businesses will be transferred
prior to the distribution, filed today a registration statement on Form
10 with the Securities and Exchange Commission. The spin-off would take
the form of a pro rata distribution of all shares of common stock of KLX
to B/E shareholders. The Company expects the receipt of shares of KLX
common stock by B/E shareholders to be tax-free for U.S. federal income
tax purposes, except for cash received in lieu of fractional shares. The
spin-off is subject to the approval of the Board of Directors of B/E and
the satisfaction of certain other conditions. B/E may, at any time until
the spin-off, decide to abandon the spin-off or modify or change the
terms of the spin-off. Holders of B/E common stock as of the record date
for the spin-off will not be required to make any payment, surrender or
exchange any shares of B/E common stock or take any other action to
participate in the spin-off. Additional information concerning KLX and
the proposed spin-off is contained in the registration statement on Form
10.
This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements involve risks and uncertainties. The
Company’s actual experience and results may differ materially from the
experience and results anticipated in such statements. Factors that
might cause such a difference include those discussed in the Company’s
filings with the Securities and Exchange Commission (SEC), which include
its Proxy Statement, Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q and Current Reports on Form 8-K. For more information, see the
section entitled “Forward-Looking Statements” contained in the Company’s
Annual Report on Form 10-K and in other filings. The forward-looking
statements included in this news release are made only as of the date of
this news release and, except as required by federal securities laws and
rules and regulations of the SEC, the Company undertakes no obligation
to publicly update or revise any forward-looking statements, whether as
a result of new information, future events or otherwise.
About B/E Aerospace, Inc.
B/E Aerospace is the world’s leading manufacturer of aircraft cabin
interior products and the world’s leading provider of aerospace
fasteners, consumables and logistics services. B/E Aerospace designs,
develops and manufactures a broad range of products for both commercial
aircraft and business jets. B/E Aerospace manufactured products include
aircraft cabin seating, lighting systems, oxygen systems, food and
beverage preparation and storage equipment, galley systems, and modular
lavatory systems. The Company also provides cabin interior
reconfiguration, program management and certification services. The
Company provides aerospace fasteners, consumables and logistics services
as well as oilfield services and associated rental equipment. B/E
Aerospace sells and supports its products through its own global direct
sales and product support organization. For more information, visit the
B/E Aerospace website at www.beaerospace.com.
![](http://cts.businesswire.com/ct/CT?id=bwnews&sty=20140829005669r1&sid=ntxv4&distro=nx&lang=en)
Copyright Business Wire 2014