NHYDY Norsk Hydro ASA (QX)

By Dominic Chopping

Norsk Hydro ASA (NHY.OS) has detected the root cause of Tuesday's ransomware cyberattack that crippled computers and production and is now working on a plan to restart its IT systems, it said Wednesday.

The Norwegian aluminum and energy giant, whose business includes mining, smelting and renewable-energy generation, said that most operations are running which means it can continue to fulfill customer deliveries according to specifications, but it still isn't clear how long it might take restore stable IT operations.

"I'm pleased to see that we are making progress, and I'm impressed to see how colleagues worldwide are working around the clock with dedication to resolve this demanding situation and ensure safe and sound operations," said Hydro's Chief Financial Officer Eivind Kallevik.

Its energy, bauxite and alumina production is running as normal while primary metal production is running normally but with a higher degree of manual operation.

Within its extruded solutions and rolled-products division, the company hopes to restart certain systems Wednesday.

Hydro said it doesn't have a full timeline toward normal operations, and it is still too early to estimate the exact operational and financial impact.

Write to Dominic Chopping at dominic.chopping@wsj.com; @domchopping @WSJNordics

(END) Dow Jones Newswires

March 20, 2019 04:27 ET (08:27 GMT)

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