The Weir Group PLC has updated the market of a recent cybersecurity incident. Jon Stanton, Chief Executive, said “We responded quickly and comprehensively to what was a sophisticated external attack on our business. 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. We will continue to focus on the safe restoration of all our systems whilst strengthening our future resilience even further.”The Group is currently managing the consequences of a sophisticated attempted ransomware attack that occurred in the second half of September. Weir’s cybersecurity systems and controls responded quickly to the threat and took robust action. This included isolating and shutting down IT systems including core Enterprise Resource Planning and engineering applications. These applications are now restored on a partial basis, and other applications are being brought back online in a progressive manner in order of business priority. The above actions have led to a number of ongoing but temporary disruptions including engineering, manufacturing and shipment rephasing, which has resulted in revenue deferrals and overhead under-recoveries. Effective capabilities are being progressively restored in the coming weeks but the consequences of the operational disruption and associated inefficiencies are expected to continue into the fourth quarter. 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. We are continuing to liaise with regulators and relevant intelligence services. Weir confirms that neither it, nor anyone associated with Weir, have been in contact with the persons responsible for the cyber-attack.
The Weir Group PLC has updated the market of a recent cybersecurity incident. Jon Stanton, Chief Executive, said “We responded quickly and comprehensively to what was a sophisticated external attack on our business. 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. We will continue to focus on the safe restoration of all our systems whilst strengthening our future resilience even further.”The Group is currently managing the consequences of a sophisticated attempted ransomware attack that occurred in the second half of September. Weir’s cybersecurity systems and controls responded quickly to the threat and took robust action. This included isolating and shutting down IT systems including core Enterprise Resource Planning and engineering applications. These applications are now restored on a partial basis, and other applications are being brought back online in a progressive manner in order of business priority. The above actions have led to a number of ongoing but temporary disruptions including engineering, manufacturing and shipment rephasing, which has resulted in revenue deferrals and overhead under-recoveries. Effective capabilities are being progressively restored in the coming weeks but the consequences of the operational disruption and associated inefficiencies are expected to continue into the fourth quarter. 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. We are continuing to liaise with regulators and relevant intelligence services. Weir confirms that neither it, nor anyone associated with Weir, have been in contact with the persons responsible for the cyber-attack.
