A closed down BAE Systems tank factory located in Newcastle has been purchased by the Reece Group for an undisclosed amount in order to transfer work from existing Reece Group sites, according to a BBC article.
Reece Group chairman John Reece said the company will also acquire plant and machinery from the Scotswood, Newcastle facility in Northeast England.
Reece added that the facility will now support the Reece Group's “activities in the oil and gas and the subsea markets.“
“We place great emphasis on research and development and our investment in Scotswood will include the establishment of the Reece Innovation Centre, whose focus will be to design the group’s next generation of innovative engineering products,” said Reece
According to the article, BAE closed the factory in May 2012 due to fewer orders from the Ministry of Defense.