Mamtek Factory Goes to Auction
MOBERLY - The Mamtek factory goes to auction Wednesday while the case against former CEO Bruce Cole continues. Cole promised to bring Moberly 619 jobs with the Mamtek sucralose factory. The criminal investigation started in September of 2011 after Cole missed a $3.2 million payment on his $69 million bond fund loan.
The factory has been sitting unused, and the auctioneer, Heritage Global Partners, will try to sell it as a unit. There was a two-day on-site preview Monday and Tuesday for interested parties to view the factory, land, and equipment. Heritage Global Partners said five to 10 people attended the preview. It will also offer the equipment piece by piece. Depending on what brings the most bidders while decide how it is sold. Some of the equipment has been sitting outside and has weather affects. Rust spots are viewable on one of the tanks.
The auction begins at 10 a.m. Though there is a live auction at the Best Western in Moberly, Heritage Global Partners expects most of the bids to come over the phone or on-line. It's website features photos of the land, factory, and different pieces of equipment.