4/24/2015 10:36:00 AM
NEWS BRIEFS
KLX Expanding Energy Services Group
KLX Inc. announced an additional expansion of its Energy Services Group.
“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,” stated CEO Amin Khoury.
Khoury added that the addition of these personnel and facilities to 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.”
In 2014, revenues at KLX – the former Consumables Management segment of B/E Aerospace – grew 31.3% to $1.7 billion, while adjusted operating earnings increased 15.6% to $303.7 million.
ESG segment revenues were $385.5 million in 2014, which included Q4 sales of $123.7 million.
KLX began trading as an independent public company on December 17, 2014.
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