© Reuters. FILE PHOTO: Individuals have a look at AGCO gear as they attend Nationwide Farm Equipment present in Louisville, Kentucky, February 12, 2016. REUTERS/Meredith Davis/File Picture
(Reuters) -Agricultural gear maker AGCO Corp mentioned on Friday it expects operations at a few of its manufacturing services to be affected for “a number of days and doubtlessly longer” following a ransomware assault.
The corporate’s shares have been down 4% at $125.55.
AGCO didn’t disclose the names of the services or if any knowledge was stolen, however added it was nonetheless probing the extent of the assault that occurred on Thursday and dealing to restore its programs.
The corporate, which competes with bigger rival Deere (NYSE:) & Co to promote tractors and combines, manufactures and assembles merchandise in 42 areas worldwide, together with 4 areas the place it operates joint ventures.
AGCO, which recorded internet gross sales of $11.1 billion in 2021, has three principal manufacturing areas in america, with services in different international locations corresponding to China, Germany and France, in response to its newest annual submitting.
The ransomware assault comes at a time U.S. agricultural gear makers face persistent provide chain disruptions which have left them unable to fulfill gear demand from farmers.