X-FAB on Track to Resume Production After Cyber Attack
13 Luglio 2020 - 8:30AM
Business Wire
Regulatory News:
X-FAB Silicon Foundries SE (BOURSE:XFAB)
X-FAB Group, whose IT systems and production lines were stopped
to prevent damage following the cyber attack on July 5, resumed
production at one of its manufacturing sites. All other sites will
follow within a week's time frame from now.
The majority of X-FAB's customers and business partners was
notified of the event. X-FAB does not expect a major impact on its
business. Most orders are foreseen to be executed within the third
quarter, only some deliveries may have to be shifted to the fourth
quarter after close alignment with the respective customers. In
response to the production stop after the cyber attack, X-FAB had
pulled forward the two-week fab shutdowns initially planned to take
place later in the third quarter as part of its COVID-19
cost-saving initiative. After a detailed check, X-FAB does not
anticipate damage to the work in progress caused by the sudden stop
of its production lines.
Investigations meanwhile revealed that it was a so-called Maze
ransomware attack. This type of attack is generally known for
demanding a ransom for decryption of data as well as for misusing
data.
The financial impact of the cyber attack is not expected to be
material. There will be an additional investment to improve IT
security. Together with external cyber security experts, X-FAB
worked out a strategy to gradually and safely resume all systems
while making the company's IT infrastructure more robust and secure
going forward.
X-FAB's priority now is to resume production at all
manufacturing sites. All other IT related systems will follow.
Under these circumstances, the publication of the second quarter
results initially planned for July 30 will be postponed to August
27, 2020.
About X-FAB
X-FAB is the leading analog/mixed-signal and MEMS foundry group
manufacturing silicon wafers for automotive, industrial, consumer,
medical and other applications. Its customers worldwide benefit
from the highest quality standards, manufacturing excellence and
innovative solutions by using X-FAB’s modular CMOS processes in
geometries ranging from 1.0 to 0.13 μm, and its special silicon
carbide and MEMS long-lifetime processes. X-FAB’s analog-digital
integrated circuits (mixed-signal ICs), sensors and
micro-electro-mechanical systems (MEMS) are manufactured at six
production facilities in Germany, France, Malaysia and the U.S.
X-FAB employs about 3,800 people worldwide. For more information,
please visit www.xfab.com.
Due to the current unavailability of X-FAB's IT systems, this
press release was distributed via Business Wire only and is
available on the Company's website.
Forward-looking information
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our management’s current intentions, beliefs or expectations
relating to, among other things, X-FAB’s future results of
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Uta Steinbrecher Investor Relations X-FAB Silicon Foundries
+49-361-427-6489
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