Summary
ONE of Scotland's biggest engineering groups yesterday admitted that its contracts signed under the United Nations Oil for Food programme may have been exploited to provide funds for Saddam Hussein's regime.
Having initially rejected suggestions that there was a case to answer about illegal arrangements with Iraq to gain one contract, the Weir Group yesterday confirmed that (pounds) 4.5m received through the UN programme for carrying out work in Iraq had been directed to as yet unknown beneficiaries.See the full content of this document
Extract
Weir Group Admits Iraq Oil for Food Contracts Were Inflated
Weir shares fell by 2% at the close of trading to stand at 276.5p, down 5.25p, but at one stage during the day they stood as low as 265p.
Weir, whose board includes L...See the full content of this document
Sponsored links
