Cyberattack Takes Down Systems at Molson Coors

Molson Coors Beverage Co.

announced Thursday that the company was experiencing disruptions due to the cyber attack.

Coors Light and Miller Lite Brewing Company, based in Milwaukee, Wisconsin, stated in a regulated filing that the attack resulted in a system failure that affected brewery operations, production and product shipments.

We have hired a major computer forensics firm to investigate the incident and we are working day and night to get our systems back up and running as quickly as possible, said Adam Collins, director of communications for Molson.

Another spokesperson for the company would not elaborate on the nature of the attack or its timing. The manufacturing sector is a prime target for hackers running ransomware and exploiting vulnerabilities in software.

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Australian brewer Lion Petit. Ltd was hit by a ransomware attack in June 2020 that disrupted production, packaging, distribution, orders and billing. In November 2019, the Ontario-based beverage company will.

Waterloo Brewing Company Ltd.

reported losing C$2.1 million, the equivalent of $1.58 million, in a social engineering attack in which scammers posed as lenders.

A Lion spokesperson recalled the company’s previous public guidance on cyberattacks, which detailed the response and recovery in 17 days.

Waterloo declined comment.

After financial services, manufacturing was the second most attacked sector in 2020, compared to the eighth most attacked sector in 2019, according to the association’s study

International Business Machines Corp.

Deficiencies in the specialized software used by manufacturers, known as industrial control systems, make this sector a target, IBM said. Cybersecurity firm X-Force reported a 49% increase in the number of vulnerabilities discovered in ICS platforms in 2020 compared to 2019.

Cyberattack Takes Down Systems at Molson Coors

Workers are employed in the malting plant of a malt brewery owned by the Australian company Lion.

Photo:

Brandon Thorne/Bloomberg News

The U.S. Cybersecurity and Infrastructure Security Agency released 21 reports Tuesday alone detailing vulnerabilities in various ICS platforms and warns of more than 50 vulnerabilities in these technologies this year.

Cyber attacks that cause system failures can affect both manufacturing and other business processes, said Grant Geyer, director of products at Claroty Ltd, a New York-based company that specializes in cyber security for industrial companies. This includes areas such as finance and human resources management.

Exacerbating the problem is the pandemic of remote users needing access to the environment, he added.

Last month, Molson warned of the risks associated with cyber attacks in its annual report, filed with the Securities and Exchange Commission, saying there had been more than the usual number of attempts to break into its systems.

We have seen an increase in these attacks recently as many of our employees are working remotely and have remote access to our technology infrastructure due to the coronavirus pandemic, the company said.

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Email James Randle at [email protected].

frequently asked questions

Why did MillerCoors become Molson Coors?

The personnel changes in Milwaukee are related to Molson Coors’ plan to simplify its corporate structure and reduce costs. The company will move from one head office and four business units to two business units, one for North America and one for Europe.

Is Molson Coors a good investment?

Conclusion. We believe that the company’s growth initiatives, strong equity portfolio and presence in the agricultural commodities market will ensure strong growth through 2021. This is also supported by the B-value estimate and an expected long-term earnings growth of 3.7%.

Is the Coors Brewery going to close?

The brewery, which opened in 1980, employs around 470 people. 7, 2020. … Denver-based Molson Coors Beverage Company announced plans Monday to stop production at the plant by September 2020, adding that it has reached an agreement with Pabst Brewing Co.

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