B\/E Aerospace, Inc. (BEAV: Quote), a maker of aircraft cabin interior products, said Wednesday that it has completed the previously announced spin-off of KLX Inc. (KLXI: Quote) from the company. Meanwhile, KLX said in a separate statement that its shares will begin regular way trading on the Nasdaq under the ticker symbol \"KLXI\" from today. <\/p>\n
B\/E Aerospace said that on Tuesday, December 16, 2014, it distributed all the outstanding shares of KLX common stock to B\/E Aerospace shareholders at a distribution ratio of one share of KLX common stock for every two shares of B\/E Aerospace common stock held by them on the December 5, 2014 record date. <\/p>\n
Starting Wednesday, December 17, 2014, B\/E Aerospace common stock will no longer include the value of KLX. <\/p>\n
In a separate statement, KLX Inc. (KLXI) said it will commence regular trading from Wednesday following its spin-off from B\/E Aerospace. The company said its shares will trade on the Nasdaq under the ticker symbol \"KLXI\". <\/p>\n
In early June, B\/E Aerospace announced its intention to split into two independent, publicly traded companies, for manufacturing and services. <\/p>\n
The new B\/E Aerospace, or the manufacturing company, will focus on aircraft cabin interior equipment - design, development, manufacturing, certification and direct sales on a global basis. <\/p>\n
KLX, or the services company, will look after distribution, logistics and technical services for the aerospace and energy services markets. KLX is a distributor of aerospace fasteners and consumables, and also a provider of services and products for the oil and gas industry. <\/p>\n
BEAV closed Tuesday's trading at $74.37, up $0.40 or 0.53 percent on a volume of 1.37 million shares. In Wednesday's pre-market activity, the stock is down $19.38 or 26.06 percent to $54.99. <\/p>\n
by RTT Staff Writer <\/p>\n
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