Glasgow-headquartered Weir Group has revealed it was the victim of a “sophisticated attempted ransomware” attack in September which impacted operations.
In a quarterly trading update issued on 7th October, the engineering firm confirmed the attack took place at the end of Q3 and that robust measures had been taken to minimise disruption.
“We responded quickly and comprehensively to what was a sophisticated external attack on our business,” said Chief Executive Jon Stanton.
“We will continue to focus on the safe restoration of all our systems whilst strengthening our future resilience even further,” he added.
As part of its response, Weir Group isolated and shut down core IT systems, including enterprise resource planning and engineering applications. These applications have now been restored on a “partial basis” while other functions are being brought back online in a progressive manner.
The group confirmed it has been in close contact with regulators following the attack and said there is no evidence so far to suggest any sensitive data has been lost.
“Our forensic investigation of the incident is continuing and so far, there is no evidence that any personal or other sensitive data has been exfiltrated or encrypted,” a statement from the firm read.
“Weir confirms that neither it, nor anyone associated with Weir, have been in contact with the persons responsible for the cyber-attack.”
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While the ransomware threat had been mitigated, Stanton revealed the response had caused some temporary disruption, including engineering, manufacturing and shipping rephasing.
“The robust action to protect our infrastructure and data has led to significant temporary disruption, but our teams have responded magnificently to this challenge and have managed to minimise the impact on our customers,” Stanton added.
As a result of the rephasing of shipments due to the security incident, Weir experienced revenue deferrals of £50m in September in addition to overhead under-recoveries in manufacturing and engineering.
The group warned that operational disruption and inefficiencies are expected to continue into Q4. However, capabilities are being progressively restored and the organisation remains on track to deliver on performance goals that will see the group increase revenues and reduce its environmental footprint.