WELLINGTON, Fla., June 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 a very successful 2015 Paris Air Show for its Aerospace Solutions Group (ASG) business, and significant additions to its Energy Services Group (ESG) business.
"We are pleased to announce that the 2015 Paris Air Show was our most successful in the Company's history. We met with over 100 customers resulting in several new awards and/or extension of existing contracts, and we identified a number of important follow up opportunities," stated Amin Khoury, Chairman and Chief Executive Office of KLX.
Commenting on the expansion of services within the ESG business, Mr. Khoury stated, "In spite of the challenging current market conditions that are forcing our competitors to downsize and regroup, we continue to focus on identifying and attracting industry leading specialists with deep technical knowledge and strong customer relationships, who add new and complementary capabilities which strengthen and expand both our competitive position and our geographic footprint. During the quarter, we have been able to attract a significant number of experienced specialists with outstanding completion, production and well construction services capabilities and strong ties to a substantially expanded customer base, operating in two of our major regions, the Permian and the Rockies." Mr. Khoury stated, "We welcome this outstanding group of specialists who have an extensive history of delivering high quality services to a broad range of loyal customers. Our expanded capabilities and services will initially be offered in the Hobbs, New Mexico, Midland, Texas, Vernal, Utah and Powell, Wyoming markets. In addition, we will offer these expanded services to our existing operations, beginning with the Johnston, Colorado, Williston, North Dakota and Rock Springs, Wyoming markets. The addition of these personnel and capabilities to our existing ESG business is a continuation of our investment strategy to build an industry-leading company in the segments of the North American onshore oil field services industry within which we compete. These actions are consistent with our previously announced investments, and our focus on adding new service technologies which will help us to better serve our customers 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. For more information, visit the KLX website at www.klx.com.
CONTACT: Michael Perlman Assistant Treasurer KLX (561) 383-5100