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The company’s chief executive said JBS USA Holdings Inc paid $11 million in ransom to cybercriminals who last week temporarily shut down factories that process nearly a fifth of the country’s meat supply.
Andre Nogueira, CEO of Brazilian meat company JBS SA’s JBSS3, said the ransom payment, in bitcoin, was made to protect JBS’s meat plants from further disruption and to limit the potential impact on restaurants, grocery stores and farmers who depend on JBS, +0.96% splitting the US .
“Paying criminals has been very painful, 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 stations were operational again.
JBS is the world’s largest meat company by sales and processing of beef, poultry and pork from Australia to South America and Europe. In the United States, the company is the largest manufacturer of beef and the largest supplier of chicken and pork. Also, Pilgrim’s Pride Corp. Its subsidiary PPC, which was hit by 0.26% in the attack, is the second largest poultry manufacturer in the United States.
An expanded version of this report appears on WSJ.com.
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