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JBS USA Holdings Inc. has paid a ransom of $ 11 million to cybercriminals who temporarily destroyed factories last week that process about a fifth of the country’s meat supply, the company’s chief executive said.
The ransom payment, in bitcoin, was made to protect JBS’s meat factories from further disruption and to limit the potential impact on restaurants, grocery stores and farmers who depend on JBS, said Andre Nogueira, Managing Director of Brazilian meat company JBSSAs JBSS3, + 0.96%. American division.
It was very painful to pay the criminals, but we did the right thing for our clients, Nogueira said Wednesday in an interview with the Wall Street Journal. He added that the payment was made after the majority of JBS factories were back up and running.
JBS is the world’s largest meat company in terms of sales, processing of beef, poultry and pork from Australia to South America and Europe. In the United States, the company is the largest beef processor and a major supplier of chicken and pork. Its subsidiary Pilgrims PrideCorp. PPC, + 0.26%, also affected by the attack, is the second US poultry processor.
An extended version of this report appears on WSJ.com.
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