Shares in British engineering company dive as it announces cost of cyberattack

Morgan Advanced Materials, which produces ceramic and carbon parts used in semiconductor manufacturing, told investors on Tuesday that last month’s cyberattack could cost it up to £12 million — prompting its shares to dive.

The British company — one of the 350 most valuable businesses listed on the London Stock Exchange — announced in January that it was “managing a cyber security incident after detecting unauthorized activity on its network.”

The nature of the incident has still not been confirmed, …

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