X-FAB on track to resume production after cyber attack

X-Fab says that all other sites will follow within a week’s time frame from now. The company does not expect that the attack will have any 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, which were initially planned to take place later in the third quarter as part of its COVID-19 cost-saving initiative. Following a detailed check, X-Fab says it does not anticipate any 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. However, 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 its IT infrastructure more robust and secure going forward. The priority now is to resume production at all manufacturing sites and all other IT related systems will follow.