Canada-based packaging solutions provider Imaflex has reported a cybersecurity incident, which has impacted certain systems within the corporation.
The company noted that it took immediate measures to address the situation and minimise any potential effects on its data and operations.
Imaflex also said it initiated a comprehensive investigation to determine the source and full extent of the incident.
To assist with these efforts, the company has teamed up with third-party cybersecurity bodies, adhering to industry best practices.
The company assures that it is still manufacturing, shipping, and performing back-office functions to meet business requirements, albeit with some temporary measures in place.
Established in 1994, Imaflex is involved in developing and manufacturing solutions for the flexible packaging industry.
The company also produces films for the agricultural sector, showcasing its versatility and commitment to serving diverse market needs.
Its product portfolio is primarily composed of polyethylene films and bags, including metalised plastic film, catering to the industrial, agricultural, and consumer markets.
Imaflex’s headquarters are located in Québec, Canada, while its manufacturing facilities are in both Canada and the US.
In November last year, Imaflex reported a significant revenue increase for the third quarter (Q3) of 2024, primarily due to higher volumes and favourable exchange rates.
For Q3 2024, ending 30 September, revenues totalled $28.4m, reflecting a 24.3% increase from $22.9m in the same period last year.
The company’s gross profit rose notably to $4.6m, or 16.2% of sales, compared to $2.1m, or 9.1% of sales, in 2023. During this period, Imaflex’s net income also rose to $1.5m, up $1.3m or 847.1% compared to 2023.
