Aurubis AG, Europe’s biggest copper producer, was hit by a cyberattack overnight that prompted a preventative shutdown of its IT systems.
(Bloomberg) — Aurubis AG, Europe’s biggest copper producer, was hit by a cyberattack overnight that prompted a preventative shutdown of its IT systems.
The scope of the attack is being investigated and the company’s internal systems are being examined, Aurubis said on Friday, without giving more details.
The company’s shares fell as much as 4.2%.
Industrial companies around the world are facing a rising threat from cyberattacks that can wreak havoc on production and supply lines. In 2019, European aluminum producer Norsk Hydro ASA was forced to run its operations manually while it scrambled to recover from a ransomware attack, while a 2017 attack on pharmaceutical giant Merck & Co.
caused $1.3 billion in losses.
Aurubis has fared better than some producers of other metals including aluminum and zinc, which have been forced to cut back their highly power-intensive production processes.
The company has also been looking to cutting gas usage and secure alternative supplies, and is in the process of winding down purchases of Russian copper.
“We can ensure our client base that we are going to meet all our commitments in metal supply in the next calendar year and thereafter without Russian cathodes,” Chief Executive Officer Roland Harings said in an interview in London on Wednesday.
“In the case of copper, there’s no need for Europe to take Russian metal.”
(Updates with more details throughout.)
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