moberly. artificial sweetner

Politics
5:41 pm
Thu April 25, 2013

Moberly, Mo., takes costly financial hit this month due to Mamtek

Moberly has taken close to a sixty thousand dollar hit this month because of Mamtek, the failed artificial sweetener plant.  

Throughout April, the city has spent that sum in legal fees due to the Mamtek fiasco.

These legal costs include attorneys’ fees that Moberly is paying in their fight against Mamtek in court.

The spent funds will take away from money that could have gone toward other departments in the city, such as the police and fire departments. That’s according to City Director of Finance Greg Hodge.

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Business
7:59 am
Wed October 24, 2012

Mamtek leftovers go on sale at Moberly auction

File Photo Flickr

The northern Missouri artificial sweetener plant project that turned sour when its financing collapsed last year is holding an out-of-business sale.

Mamtek U.S. received $39 million of industrial development bonds from the city of Moberly and could have earned up to $17 million of state tax incentives to build the factory. Construction ceased on the partially complete factory after Mamtek missed a bond payment in August 2011. Former CEO Bruce Cole faces fraud and stealing charges and remains in the Randolph County Jail awaiting trial.

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