Brazil’s Grupo Masipack, which manufactures machinery for the pharma sector, is in financial crisis. The president of the company blames the problems on the recession in Brazil.
Brazil’s Grupo Masipack, which manufactures machinery for the pharma sector, is suffering a financial crisis that is affecting delivery times for its products.
As far as Pharmabiz could learn, the company is responding to the situation and has sent out a letter of clarification to explain the current state of affairs. See below.
The company blames the recessionary economic situation in Brazil and, at the same time, claims an aggravating factor is the difficulty to access credit lines along with the high costs of finance.
the letter signed by the company’s president Maurício Sanches Moreno also mentions that Masipack has begun a request for Judicial rehabilitation with the objective to maintain its operations and staff, and has made changes to the group’s capital structure.
According to sources consulted by Pharmabiz, the Brazilian firm Fabrima – acquired by Masipack in 2011 – was part of the group most affected when it opened imports of machinery, including reconditioned machines.