Engineering company Weir Group to lose £ 5 million due to cyber attack

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email

Although the attack was repelled, the preemptive shutdown of the company’s IT systems led to disruptions in the shipment of goods.

Scottish engineering company Weir Group is addressing the consequences of a ransomware cyberattack. Production and other processes will be restored over the next few weeks, but the company will feel the impact of the disruptions throughout the fourth quarter.

According to the Weir Group, in the second half of last month, attackers tried to attack its computer systems, but its security solutions reacted quickly and the company took immediate action.

In particular, IT systems had to be isolated and shut down, including key engineering and enterprise resource planning applications. Currently, the work of these applications is partially restored, the rest are returning online in accordance with priority business tasks.

The system shutdown caused a series of disruptions in engineering and manufacturing processes, as well as a delay in the shipment of goods. In turn, this led to a delay in revenue and incomplete reimbursement of overhead costs.

Read the article