WELLINGTON, Fla., April 24, 2015 (GLOBE NEWSWIRE) -- KLX Inc. ("KLX") (Nasdaq:KLXI), the world's leading distributor and value added service provider of aerospace fasteners and consumables, and a provider of services and products for the oil and gas industry, announces an additional expansion of its ESG business.
Amin Khoury, Chairman and Chief Executive Officer of KLX commented, "While industry peers are scaling back operations in reaction to lower oil prices and the budget cuts related thereto, we have been able to capitalize on several unique opportunities by bringing on a number of excellent, experienced industry specialists, and expanding our business into the Casper, Riverton and Rock Springs, Wyoming markets." Mr. Khoury continued, "The addition of these personnel and facilities to our existing operations in Wyoming, Colorado and New Mexico has solidified KLX's position as one of the leading service providers in one of the top producing regions in the country. These actions are consistent with similar investments which we have made in our other geographic regions during this period of contraction by essentially all of our competition. In addition, we are continuing to identify and evaluate new service technologies which will help us to expand our service offerings in new and existing markets."
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 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 KLX Inc.
KLX Inc., through its two operating segments, provides mission critical products and complex logistical solutions to support its customers' high value assets. KLX serves its customers in demanding environments that face high cost of downtime and require dependable, high quality just-in-time customer support. The Aerospace Solutions Group is the world's leading distributor and value added service provider of aerospace fasteners and consumables offering the broadest range of aerospace hardware and consumables and inventory management services worldwide. The Energy Services Group provides vital services and products to the oil and gas industry on an episodic, 24/7 basis focused on reducing our customers' exposure to non-productive time ("NPT"). For more information, visit the KLX website at www.klx.com.
CONTACT: Michael Perlman Assistant Treasurer KLX (561) 383-5100