KLX Inc. Businesses Modestly Impacted by Hurricanes Harvey and Irma
September 18 2017 - 08:30AM
KLX Inc. (the “Company”) (NASDAQ:KLXI), a leading distributor and
value added service provider of aerospace fasteners and
consumables, and a provider of services and products to the oil and
gas exploration and production industry, today responded to
questions regarding the impact of Hurricanes Harvey and Irma on the
Company’s operations. Both the Aerospace Solutions Group Segment
(“ASG”), which is headquartered in Miami, FL, and the Energy
Services Group Segment (“ESG”), which is headquartered in Houston,
TX, were modestly impacted by the recent hurricanes that hit Texas
and Florida. ASG’s Miami based headquarters and distribution
facility sustained minimal damage and has resumed normal operations
as of Monday, September 18, 2017 after having been shut down on
Friday, September 8, 2017. ESG’s Houston headquarters and
operations in South Texas were also temporarily down for about one
week, but are now up and running smoothly.
Commenting on the effects of these storms, Amin J. Khoury, KLX’s
Chairman and Chief Executive Officer stated, “We are thankful to
report that while numerous KLX employees suffered significant
hardship during these storms, all are safe and accounted for. While
it is too early to estimate the financial impact these storms may
have had on our business, we do not expect it to have a material
impact on our financial results for the third quarter. Our service
teams are back to full capability and are fully committed to
serving our customers with the exceptional performance they have
come to expect from KLX.”
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 Exchange Act. 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 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 a 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
Director, Investor Relations
KLX Inc.
(561) 791-5435
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