Yet another large company is experiencing the effects of ransomware. AGCO Corp is a United States agriculture company that manufactures farming equipment. The attack comes at a critical time for the industry, with planting season just around the corner.
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Georgia-based AGCO Corp said in a statement it expects operations at some facilities to be affected for “several days and potentially longer.”
The ransomware attack comes at a time U.S. agricultural equipment makers were already facing persistent supply chain disruptions and labor strikes that left them unable to meet equipment demand from farmers. read more
AGCO Corp did not disclose the names of the facilities or if any data was stolen, but said it was still probing the extent of the attack that occurred on Thursday and working to repair its systems.
Tim Brannon, president and owner of B&G Equipment Inc in Tennessee, told Reuters he has not been able to access AGCO’s website for ordering and looking up parts since Thursday morning.
“We just have to trust that it will be over as soon as possible because we are coming into our busiest time of the year and it will be very damaging to our business and customers,” Brannon said.
AGCO, which competes with larger rival Deere & Co (DE.N), sells tractors and combines, manufactures and assembles products in 42 locations worldwide with 1,810 dealerships in North America.Reuters
This hit on AGCO Corp is concerning given that the agriculture industry is already reeling from the supply strain from the war on Ukraine.
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Last Updated on May 7, 2022.