FACC, an Austrian company that develops and produces components and systems made of composite materials for aircraft and aircraft engine manufacturers, suffered a hack attack to the tune of $54.5 million.

The company said the management board notified the Austrian Criminal Investigation Department and engaged forensic investigators.

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They also noted the cyber attack they called “fraudulent activities involving communication and information technologies,” came from outside the company.

A subsequent notice contained more details saying the target was the financial and accounting department, and losses were around €50 million ($54.5 million).

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“FACC’s IT infrastructure, data security, IP rights as well as the operational business of the group are not affected by the criminal activities,” the company said.

“The management board has taken immediate structural measures and is evaluating damages and insurance claims. All production and engineering units operate in an unaffected and normal way. An economic threat to the company concerning liquidity does not exist.”

FACC went on to say, “The management board will decide on further actions after the outcome of the forensic investigations is available.”

Law enforcement officials are continuing their investigation.

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