A GLASGOW engineering giant today sparked an angry reaction when it announced record profits and a bumper order book.
The Weir Group revealed pre-tax profits have soared by 40% to a new high of £87.1million and its order book is worth more than £1billion.
The trading figures came as the group is finalising the sale of its Cathcart-based subsidiary, Weir Pumps, to a foreign rival for £48m amid fears of massive job cuts.
The South Side firm revealed its £1bn order book was up 23% on 2005. Income rose 19% to £940.9m, while group debt was slashed by almost £70m to a new low of £7.1m.
John Quigley, the Scottish leader of Amicus, reacted angrily to the figures. He said: "As usual the workforce has kept up its end of the bargain by still producing at a time of uncertainty.
"Meantime the company conned the workforce, the city council and the Executive with the promise of investing in a new site in the Glasgow area. Instead it is selling out the workforce and the community."
gordon.thomson@eveningtimes.co.uk
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