"Shares in a British automaker supplier plummeted 55% Wednesday as it warned that a cyberattack on Jaguar Land Rover (JLR) was impacting its business, adding to concerns that the incident is sending a "shockwave" through the country's industrial sector, according to a senior politician. Shares in Autins, a company providing specialist insulation components for Jaguar vehicles, opened 55% below its Tuesday closing price on the AIM exchange for smaller companies."
"Shares in Autins, a company providing specialist insulation components for Jaguar vehicles, opened 55% below its Tuesday closing price on the AIM exchange for smaller companies. As of publication the price recovered slightly to a 40% drop. In a trading update the company acknowledged that JLR stopping all production since the cyberattack on September 1 was having a material effect on its own operations. Its chief executive, Andy Bloomer, told investors the attack was "concerning not just for Autins, but the wider automotive supply chain.""
Production at Jaguar Land Rover stopped after a cyberattack on September 1, triggering supply disruptions for component suppliers. Autins, which supplies specialist insulation components for Jaguar vehicles, reported a material impact on its operations from the JLR production halt. Shares in Autins opened 55% below the prior closing price on the AIM exchange and later recovered modestly to a 40% decline. The company issued a trading update acknowledging the significance of the disruption. The incident has raised concerns about broader effects across the country's industrial sector and about vulnerabilities in the automotive supply chain.
Read at DataBreaches.Net
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