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Stock Market & Financial Investment News

News Breaks
December 10, 2012
05:27 EDTBEAVBE Aerospace announces awards initially valued at $250M
BE Aerospace announced that it has been awarded four major aircraft cabin interior programs. The first of these is a lie-flat business class seating program to outfit a major international airline's new-buy Boeing 787 fleet. In addition, BE Aerospace will provide retrofit LED lighting for this same airline's Boeing 737, 767 and 777 aircraft. The second is a full cabin interior retrofit program to outfit a major global airline's long haul aircraft with lie-flat business class seating, Pinnacle main cabin seating, and LED lighting. The third award includes a business class seating program, a Pinnacle main cabin seating program and a comprehensive food and beverage preparation and storage equipment program to outfit new-buy wide-body aircraft for a major Chinese airline. Finally, BE Aerospace has won a Pinnacle main cabin seating program and a comprehensive food and beverage preparation and storage equipment program to outfit a Russian airline's new-buy 737 and A320 aircraft. These awards are initially valued at approximately $250M.
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August 29, 2014
16:21 EDTBEAVBE Aerospace files registration statement for spin-off of consumables segment
B/E Aerospace announced a further step in its previously announced separation of its Consumables Management Segment, consisting of the company’s aerospace distribution and energy services businesses, through a distribution, or spin-off, to the company’s shareholders. The company’s subsidiary KLX, to which the separated businesses will be transferred prior to the distribution, filed today a registration statement on Form 10 with the SEC. The spin-off would take the form of a pro rata distribution of all shares of common stock of KLX to B/E shareholders. The company expects the receipt of shares of KLX common stock by B/E shareholders to be tax-free for U.S. federal income tax purposes, except for cash received in lieu of fractional shares. The spin-off is subject to the approval of the Board of Directors of B/E and the satisfaction of certain other conditions. B/E may, at any time until the spin-off, decide to abandon the spin-off or modify or change the terms of the spin-off. Holders of B/E common stock as of the record date for the spin-off will not be required to make any payment, surrender or exchange any shares of B/E common stock or take any other action to participate in the spin-off. Additional information concerning KLX and the proposed spin-off is contained in the registration statement on Form 10.
August 27, 2014
08:30 EDTBEAVMorgan Stanley believes aerospace cycle concerns are overblown
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