Norsk Hydro set to restart systems after cyber attack

Bloomberg

Norsk Hydro ASA said it made progress in securing its computer systems after the Norwegian aluminum maker was hit by a ransomware cyber attack.
The company plans to restart overnight some systems in divisions that make finished metal, which should help it continue deliveries to customers. It has detected the “root cause” of the attack, but doesn’t know how long it would take to restore stable computer systems.
“We are optimistic that we will be able to produce and deliver as planned,” Chief Financial Officer Eivind Kallevik said in Oslo on Wednesday, adding that it’s still
too early to estimate the operational or financial impact. “So far we have no indication that we are losing business.”
The Norwegian police said it has opened an investigation into the attack, which began in the early hours and forced one of the world’s top aluminum makers to shut down several automated product lines and switch smelters to manual mode. Hydro said that it didn’t know the identity of the hackers and believes the attack originated in the US. The shares recovered after the losses, edging higher by 1.1 percent by 2:50 pm in Oslo.
The attack is the latest to hit the commodities sector, where disruptions can quickly cascade down the supply chain. Kallevik reiterated the company hasn’t received demands for any specific amount and no ransom has been paid. He added that the company has “good and strong” cyber insurance in place, which covers business interruptions, while
declining to elaborate further.