{"id":5514,"date":"2025-02-24T04:25:50","date_gmt":"2025-02-24T09:25:50","guid":{"rendered":"https:\/\/www.packagingindustrynews.com\/?p=5514"},"modified":"2025-02-24T04:25:50","modified_gmt":"2025-02-24T09:25:50","slug":"canadian-packaging-company-imaflex-reports-cybersecurity-breach","status":"publish","type":"post","link":"https:\/\/www.packagingindustrynews.com\/?p=5514","title":{"rendered":"Canadian packaging company Imaflex reports cybersecurity breach"},"content":{"rendered":"


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Imaflex has initiated an investigation to find the cause of the breach. Credit: Media Whale Stock via Shutterstock.<\/figcaption><\/figure>\n<\/p><\/div>\n

Canada-based packaging solutions provider Imaflex has reported a cybersecurity incident, which has impacted certain systems within the corporation.<\/p>\n

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The company noted that it took immediate measures to address the situation and minimise any potential effects on its data and operations.<\/p>\n

Imaflex also said it initiated a comprehensive investigation to determine the source and full extent of the incident.<\/p>\n

To assist with these efforts, the company has teamed up with third-party cybersecurity bodies, adhering to industry best practices.<\/p>\n

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.<\/p>\n

Established in 1994, Imaflex is involved in developing and manufacturing solutions for the flexible packaging industry.<\/p>\n

The company also produces films for the agricultural sector, showcasing its versatility and commitment to serving diverse market needs.<\/p>\n

Its product portfolio is primarily composed of polyethylene films and bags, including metalised plastic film, catering to the industrial, agricultural, and consumer markets.<\/p>\n

Imaflex\u2019s headquarters are located in Qu\u00e9bec, Canada, while its manufacturing facilities are in both Canada and the US.<\/p>\n

In November last year, Imaflex reported a significant revenue increase<\/a> for the third quarter (Q3) of 2024, primarily due to higher volumes and favourable exchange rates.<\/p>\n

For Q3 2024, ending 30 September, revenues totalled $28.4m, reflecting a 24.3% increase from $22.9m in the same period last year.<\/p>\n

The company\u2019s 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\u2019s net income also rose to $1.5m, up $1.3m or 847.1% compared to 2023.<\/p>\n

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