Brazilian firm is a four-man operation that’s closing down

A Brazilian company at the centre of political controversy is winding down its four-man operation just six months after opening shop in Sliema. The company was mentioned but not named during a debate last Friday between Prime Minister Lawrence Gonzi and Labour leader Joseph Muscat. Industry sources told The Times the company described by Dr Gonzi as a major Brazilian investment was Odebrecht Solutions. It was registered with the Malta Financial Services Authority in May and employed four people at its office at the Plaza Commercial Centre. The registered address of the company is that of a Maltese firm based in Mrieħel that provides corporate services to international clients. But the company, a subsidiary of a large Brazilian construction and engineering firm, has previous links to Malta. Two sister companies were registered here in 2007 – Odebrecht Construction Malta Ltd and Odebrecht Engineering and Construction Ltd. The Malta operations, more akin to shell companies, will be wound down after a change in the group’s management structure, the sources said, even though they will probably retain their Malta address. Dr Gonzi had first mentioned the arrival of the Brazilian company...