October 10, 2023 at 08:24AM
UK cable manufacturer Volex has been hit by a cyberattack, with unauthorized access to its IT systems and data. The company said there has been minimal disruption to production levels and no material financial impact is expected. Volex has engaged third-party consultants to investigate the incident. It is believed the attack may have been a ransomware attack.
During a recent meeting, it was discussed that Volex, a UK-based cable manufacturing company, has experienced a cyberattack that involved unauthorized access to their IT systems and data. The company has assured that all of its sites remain operational and that the financial impact of the incident is not expected to be significant. However, there has been some minimal disruption to global production levels.
Upon discovering the incident, Volex enacted its IT security protocols and engaged third-party consultants to investigate and respond to the attack. Based on the information provided, it is possible that the company was targeted in a ransomware attack, although no specific ransomware group has claimed responsibility.
Following the news of the breach, Volex shares on the London Stock Exchange’s Alternative Investment Market (AIM) experienced a slight drop.
Volex is a provider of power cords, plugs, connectors, electric vehicle charging solutions, consumer cable harnesses, data transfer cables, and data center power cables. The company has 27 manufacturing locations and employs more than 11,500 individuals across 24 countries.
This incident is reminiscent of previous attacks on companies such as MGM Resorts, Sony, Motel One, and Johnson Controls, highlighting the ongoing threat of cyberattacks in various industries.
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