SEATTLE --- The Boeing Company has concluded its purchase of Aviall, Inc., the largest independent provider of new aviation parts and related aftermarket services in the aerospace industry. Aviall supports Boeing's strategy of providing a wide array of value-added products and services that help our commercial and military customers operate more efficiently.
Boeing has purchased Aviall Inc. for $48 per share or $1.7 billion, plus the assumption of debt, net of cash existing on Aviall's balance sheet, of $448 million. Aviall's capabilities include global parts distribution and supply chain services for aerospace, defense and marine industries worldwide.
"We are excited to welcome the Aviall team to Boeing," said Lou Mancini, vice president and general manager of Boeing Commercial Aviation Services. "We will add Aviall's great products and people to our expanding Integrated Materials Management program that is so important to our customers."
"We are delighted to become part of The Boeing Company," said Paul Fulchino, chairman, president and chief executive officer of Aviall. "Our combined industry knowledge creates a dynamic team that will continue to enable our customers to achieve greater efficiency, operational savings and profitability."
Aviall will report to Boeing Commercial Aviation Services and operate as a wholly-owned subsidiary. Commercial Aviation Services offers Integrated Materials Management services to airline customers. Through this program, Boeing and selected suppliers maintain an airline's inventory of maintenance supplies -- including spare parts -- and provide items only as needed, reducing the airline's cost and complexity of doing business. Aviall's parts ordering and supply chain management capabilities will also be utilized by Boeing's Integrated Defense Systems' Support Systems business.
"This is an exciting time for Boeing with the addition of Aviall's capabilities," said Pat Finneran, president of Support Systems. "Their strengths and abilities are well aligned with our current business strategies and I look forward to leveraging our combined strengths to improve our supply chain services for our customers."
With approximately 1,000 employees, Aviall is headquartered in Dallas with customer service centers located in North America, Europe and Asia. As the world's largest independent provider of new aviation parts and related aftermarket services, Aviall markets and distributes products for approximately 220 manufacturers and offers approximately 700,000 catalog items. Aviall also offers a full line of aviation batteries, hoses, wheels and brakes, and paint services.