JBS Meat Plants Mostly Back Online Following Cyberattack

JBS says most of its meatpacking plants are back in operation after a ransomware attack took them down earlier this week.
Author:
Publish date:

Meatpacker JBS  (JBSAY)  said it had made "significant progress" to resolve a ransomware cyberattack that put its global operations at risk. 

The Sao Paulo, Brazil, company says that given the progress its IT team has made to neutralize the cyberbreach, it expects the vast majority of its beef, pork, poultry and prepared foods plants to be operational Wednesday.

“Our systems are coming back online and we are not sparing any resources to fight this threat," Andre Nogueira, chief executive of JBS USA, said in a statement. 

"We have cybersecurity plans in place to address these types of issues and we are successfully executing those plans." 

Read More: Protecting Your Portfolio With Cybersecurity Stocks- Real Money

The company also says the White House, FBI, U.S. Department of Agriculture, and Australian and Canadian governments have all assisted the company over the past two days. 

Earlier this week, JBS, the world's largest meat producer, shuttered its nine U.S.-based beef plants while responding to an "organized cybersecurity attack." The attack on Sunday affected its computers systems in North America and Australia. 

The company has not disclosed the origin of the attack, but the White House said earlier this week that the ransom demand came from a criminal organization "likely based in Russia."

JBS American depositary receipts closed Tuesday trading up 4.2% at $12.14. They'd touched a 52-week high $13.12 on April 23.

At last check peer meatpackers Tyson Foods  (TSN) - Get Report eased 0.2% while Hormel Foods (HRL) - Get Report slipped 0.1%. 

Tyson Foods CEO Steps Down After Less Than a Year