Weir Group PLC Rotten Score Breakdown

In December 2010, The Weir Group PLC pleaded guilty in Scotland to two charges of breaching United Nations sanctions in connection with contracts awarded under the Iraq Oil-for-Food programme. Weir's own 2010 annual report states that the offences concerned contracts awarded between 2000 and 2002 and resulted in a £13.9 million confiscation order and a £3 million fine. The World Bank's Stolen Asset Recovery Initiative, citing the Crown Office and Procurator Fiscal Service, records that Weir paid more than £3 million in kickbacks through a Swiss bank account in return for contracts from Saddam Hussein's government. Weir subsequently stated that the conduct was wrong and that it had overhauled its compliance procedures. Sources: The Weir Group PLC — 2010 Annual Report https://www.global.weir/globalassets/investors/reporting-centre/2011/weirgroup_2010_ara_complete.pdf World Bank StAR — Weir Group plc case summary https://star.worldbank.org/asset-recovery-watch-database/weir-group-plc