Mpac: can this phoenix continue to rise
This business has been transformed over recent years, but can the phoenix continue to rise from the ashes and what of the elephant in the room?
Mpac Group (LON:MPAC), the formerly named Molins, has been transformed over recent years from a manufacturer of instrumentation and tobacco machinery into a specialist packaging and automation solutions provider. The valuation looks modest on many levels, but there is good reason for this as we cover here. A little historyMolins moved to AIM from the main Market in June 2014 and 12 months later the shares had fallen 50% following several disappointing trading updates, notably relating to their tobacco machinery division. Things started to change following Tony Steels arrival as CEO in June 2016, when the shares were languishing at…