Brazilian company closed shop, minister admits

The Brazilian company at the centre of political controversy since it was mentioned during a debate between the Prime Minister and the Opposition leader last Friday, had now closed shop, Finance Minister Tonio Fenech admitted this morning. Speaking during a visit to ArrowPharma in Hal Far, Mr Fenech admitted that the company, which remained unnamed, had closed shop but said that, at one point, it employed 35 people. He said the company had relocated to Malta from Libya because of the situation there but since the situation in the Arab state had not improved, it had now decided to close shop. Dr Gonzi had first mentioned the arrival of the Brazilian company without naming it in February during a debate with Dr Muscat that was organised by The Times. The Prime Minister had described it as “a very big company” that got to know about the island at the height of the Libya crisis when it evacuated its workers through Malta. CLARIFICATION In a clarification this afternoon, the minister said that 160 new factores had started-up or expanded investing €350 million. This meant the creation of 3,700 jobs over a three-year period.