The board of Wellington-based B/E Aerospace, which makes interior cabins for aircraft, has approved the separation of its distribution and energy services businesses. The new business will be known as KLX Inc.
Amin Khoury, B/E Aerospace’s chairman and co-chief executive, said separating the businesses “will allow each to benefit from increased management focus and operational flexibility.”
For every two shares of B/E Aerospace common stock held, shareholders will receive one share of KLX common stock, the company said Tuesday. The record date for owning B/E Aerospace stock is Dec. 5, and the distribution date of KLX stock is Dec. 16.
After the distribution, KLX will be an independent, publicly traded company, and B/E Aerospace will own no shares of it.
KLX is expected to trade on NASDAQ under the symbol KLXI, the company said.
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