UK Manufacturer, Morgan Advanced Materials Hit in Cyberattack
UK manufacturing firm, Morgan Advanced Materials plc said Tuesday it is investigating and managing a “cybersecurity incident after detecting unauthorized activity on its network.” “Upon becoming aware of the incident, the company immediately launched an investigation, engaged its specialist support services and has implemented its incident response plans,” the company said in a notice filed with the London Stock Exchange.
August 2023 update: the company told the London Stock Exchange that some applications were still being recovered and that the incident had a £23 million (approximately $28 million) impact on the first half of 2023’s operating profit. Although the company did not provide information on the type of cyberattack it has experienced, taking systems offline is typically the response to a ransomware attack.
Incident Date
January 10, 2023
Location
Estimated Cost
The incident had a £23 million (approximately $28 million) impact on the first half of 2023’s operating profit.