(Reuters) – Agricultural equipment manufacturer AGCO Corp. said on Friday that they expect the operations of some of its production facilities to be affected for “several days and potentially longer” following a ransomware attack.
The company’s shares fell 4% to $ 125.55.
AGCO did not disclose the names of the facilities or whether any data was stolen, but added that they are still investigating the extent of the attack that occurred on Thursday and are working to repair its system.
The company, which competes with major rival Deere & Co. on the sale of tractors and combine harvesters, manufactures and assembles products at 42 locations worldwide, including four locations where it operates joint ventures.
AGCO, which recorded net sales of $ 11.1 billion in 2021, has three major manufacturing locations in the United States, with facilities in other countries such as China, Germany and France, according to its latest annual application.
The ransomware attack comes at a time when US agricultural equipment manufacturers are facing persistent supply chain disruptions that have made them unable to meet the demand for equipment from farmers.