British company that helps make semiconductors hit by cyber incident
Image: Alexandre Debieve/Unsplash
Alexander Martin January 10, 2023

British company that helps make semiconductors hit by cyber incident

Alexander Martin

January 10, 2023

British company that helps make semiconductors hit by cyber incident

The British company Morgan Advanced Materials, which produces ceramic and carbon parts used in semiconductor manufacturing, filed a cyber security incident notice on Tuesday with the London Stock Exchange.

According to the notice, the company — one of the 350 most valuable businesses listed on the exchange — is “currently managing a cyber security incident after detecting unauthorized activity on its network.”

The nature of the attack has not been disclosed, but Morgan said it had taken precautionary measures within its IT infrastructure to “contain the incident” and added that “actions are being taken to remediate and restore systems.”

The company, which was founded in 1856, has become one of the United Kingdom’s leading manufacturers of specialist materials with nearly 7,800 employees globally and annual revenues of just over £950 million ($1.15 billion).

Shares in the company, which engineers industrial components alongside materials used in electric vehicles, solar panels and the semiconductor manufacturing process, were trading down 1.78% on Tuesday morning following the disclosure.

No explanation of the attack’s impact on Morgan’s business operations has yet been disclosed, nor has the nature of the attack. The company stated it is “taking steps to ensure that its businesses can continue to trade with its customers and suppliers.”

Alexander Martin is the UK Editor for Recorded Future News. He was previously a technology reporter for Sky News and is also a fellow at the European Cyber Conflict Research Initiative.