Assets from Mamtek Mo. sweetener plant to be auctioned

Jul 27, 2012

UMB Bank says assets from a failed artificial sweetener facility in Moberly will be auctioned this fall.

The bank is the bondholder trustee for the central Missouri project that was to be operated by Mamtek U.S. Inc.

Moberly issued $39 million in bonds to finance construction of the plant, and the state offered about $17 million in incentives. Work stopped last fall on the partially built factory after Mamtek missed a bond payment to Moberly. No state incentives were paid.

The Columbia Daily Tribune reports UMB Bank could not find a buyer after spending at least four months looking.

Moberly and Moberly Area Economic Development Corp. officials say UMB Bank was unwilling to consider certain offers. Moberly has received 10 inquiries about the property.

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