Tractor maker AGCO says its operations at some facilities hit by ransomware attack -Breaking
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© Reuters. FILE PHOTO – People inspect AGCO machinery at the National Farm Machinery Show in Louisville, Kentucky on February 12, 2016. REUTERS/Meredith Davis/File Photograph(Reuters) – AGCO Corp, a maker of agricultural equipment said Friday that it expected some operations to be disrupted for several days or longer following a ransomware attack.
At $125.55, the shares of the company were down by 4%.
AGCO declined to disclose the identities of those affected or the data that was stolen. However, it said it is still investigating the circumstances of Thursday’s attack and would continue working to fix its systems.
The company, which competes with larger rival Deere (NYSE:) & Co to sell tractors and combines, manufactures and assembles products in 42 locations worldwide, including four locations where it operates joint ventures.
According to AGCO’s most recent annual filing, AGCO recorded $11.1 billion net sales in 2021. It has three major manufacturing facilities in America, and other locations such as France, Germany, and China.
Ransomware attacks come at a moment when U.S. farmers are facing persistent supply chain disruptions, which have made it difficult for them to fulfill their equipment demand.
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