Haynes reports all manufacturing operations ‘running now’

Haynes International provided an update regarding its operational restoration efforts following the recent cybersecurity incident. As disclosed last week, on June 10, 2023, the Company began experiencing a network outage indicative of a cybersecurity incident. Upon detection of the incident, the Company engaged third-party specialists to assist in investigating the source of the outage, determine its potential impact on the Company’s systems, and securely restore full functionality to the Company’s systems. Although various aspects of the Company’s networks were down while the Company retained specialists and remediated the incident, all of the Company’s manufacturing operations are now running, albeit with some operating inefficiencies. In addition, the Company has substantially restored its administrative, sales, financial, and customer service functions. While the Company has determined that some data was copied from the network, at this stage, there is no evidence that either customer or employee information was accessed. Although the incident and the Company’s response efforts caused some delay in product shipments, it is not yet possible to determine the full impact on the Company’s quarterly financial results. The investigation into this incident and the Company’s restoration efforts are ongoing.