AGCO Announces Ransomware Attack

AGCO (NYSE:AGCO), a leading agricultural equipment manufacturer, announced a ransomware attack on May 5, 2022, affecting its production facilities.

Rhea-AI Impact

(Neutral)

Rhea-AI Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Tags

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

05/06/2022 - 08:55 AM EDT

DULUTH, Ga.--(BUSINESS WIRE)-- AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment, announced today that on May 5, 2022, it was subject to a ransomware attack that has impacted some of its production facilities. AGCO is still investigating the extent of the attack, but it is anticipated that its business operations will be adversely affected for several days and potentially longer to fully resume all services depending upon how quickly the Company is able to repair its systems. The Company will provide updates as the situation progresses.

Cautionary Statements Regarding Forward-Looking Information

Our expectations with regard to resolving the issues are forward-looking statements, and actual results could be materially different due to a number of factors, including our ability to successfully reinstall software and restore IT operations at the effected sites.

About AGCO

AGCO (NYSE:AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers customer value through its differentiated brand portfolio including core brands like Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra®. Powered by Fuse® smart farming solutions, AGCO’s full line of equipment and services help farmers sustainably feed our world. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of $11.1 billion in 2021. For more information, visit www.AGCOcorp.com. For company news, information and events, please follow us on Twitter: @AGCOCorp. For financial news on Twitter, please follow the hashtag #AGCOIR.

Please visit our website at www.agcocorp.com