Volex said attackers accessed IT systems and data at international sites

Volex, the UK listed manufacturer of power cords, cable assemblies and connectivity products used in data centres, electric vehicles and medical equipment, told the market on October 9, 2023 that attackers had gained unauthorized access to some of its IT systems and data. The company said the intrusion touched several of its international sites and had been detected over the preceding weekend.

In its statement Volex said it had enacted its established IT security protocols and taken immediate steps to stop the unauthorized access to its systems and data. It engaged specialist external consultants to assess the scope of the incident and manage the response. The company did not describe what categories of data had been reached.

Volex said all of its manufacturing sites remained operational with minimal disruption to global production levels, and that it did not expect any financial impact from the incident to be material. It operates 27 manufacturing locations across 24 countries and reported revenue of more than 720 million dollars for its 2023 financial year.

Shares in Volex, which trade on the London Stock Exchange's AIM market, fell more than four percent on the morning of the announcement. SecurityWeek noted that no ransomware operation had listed the company on a leak site at the time of reporting, and no group publicly claimed the attack in the days that followed.