North East parts of historic William Cook acquired by US aerospace giant Heico

The Cook Defence Systems factory in Stanhope, County Durham (Image: Cook Defence Systems)

The North East operations of historic steel business William Cook have been acquired by US defence giant Heico.

The deal, the value of which is undisclosed, sees the formation of a new company Heico-Cook Defence which will encompass Cook Defence Systems, William Cook Stanhope and William Cook Intermodal. The joint venture is 80% owned by Heico and 20% by William Cook Holdings.

Cook Defence Systems - which has played a key role in providing replacement tracks for Ukraine's tank fleet - and its sister companies will continue to operate from their purpose-built factory in Stanhope, which employs about 130 people. The two firms have said contracts with employees, customers and supplies remain unaffected.

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