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Tractor Maker AGCO Says Ransomware Hit Has Days-Long Impact (1)

May 6, 2022, 1:52 PM

AGCO Corp., an agricultural machinery producer, said it was subject to a ransomware attack that will slow production at its manufacturing plants for several days.

The Duluth, Georgia, company said in a statementit’s still investigating the extent of the attack and full resumption of production will depend on how quickly it can repair the systems. The attack, which occurred on May 5, comes days after AGCO boosted its full-year sales and profit outlook.

Shares of AGCO dropped 3.2% at 9:46 a.m. in New York, but remain up 9.1% for the year.

Ransomware attacks have been increasing in recent ...

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