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Scottish independence: Business giant plans report

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  • by KRISTY DORSEY
 

ONE of Scotland’s biggest companies, Weir Group, is to produce a report on the impact that independence is likely to have on its business.

Weir Group, one of six FTSE 100 companies with headquarters in Scotland, has commissioned an independent economic consultancy to assess the potential advantages and pitfalls should Scots vote to end their 307-year union with the rest of the UK. Weir intends to publicly circulate its findings by the beginning of April.

Chief executive Keith Cochrane said the study was a “serious piece of work” that should move the debate forward. Depending on findings, the group may publicly throw its support behind the “Yes” or “No” sides.

“We will see where the report gets us to, but we will certainly be putting a Weir perspective on it,” Mr Cochrane said.

“What all of us are being asked to do is make a very big decision on 18 September, and the best way to make that decision is to be as factually informed as possible. We felt this was the best way we could contribute to the debate.”

Glasgow-based Weir makes heavy equipment for the oil, mining and industrial sectors, and employs 15,000 people in more than 70 countries. About 600 of those work in Scotland.

Giving evidence before a Holyrood enquiry yesterday, Aggreko chief executive Rupert Soames said international investors were getting increasingly nervous in light of recent opinion polls showing growing support for separation.

 

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