European Company Ardagh Group has been hit by a cyberattack recently and is said to be on road to recovery. A source from the Glass and Metal-based packaging giant said that the attack was of a malware variant, but failed to acknowledge it as a ransomware attack as the investigation was still going on the issue.
Ardagh issued a public statement on this issue on May 17th,2021, and stated that it has hired the services of a security firm in this regard to probe down the incident and has chosen to shut down its IT systems and applications to contain the spread.
Regular production operations haven’t been affected by the attack. But the attack has caused shipping delays and interruption to supply chain operators said the company that is into the business of sustainable and recyclable packaging.
Since Ardagh is covered by a Cyber insurance policy it might not show any effect on the operational costs of the company. But trade experts say that every cyber attack does have the potential to negatively affect the profit margins and this implies small and medium scale businesses as well.
Note- Ardagh was founded in 1932 and happens to be one of the oldest companies in North America. It started as a glass bottle company and then acquired a metal packaging firm of Impress Group for 1.7 billion euros after which it was being recognized as a business that offers glass and bottle packaging units that are 100% sustainable and infinitely recyclable.