Mamtek Investigations Continue for Second Day at Capitol

6 years 5 months 4 weeks ago Thursday, January 19 2012 Jan 19, 2012 Thursday, January 19, 2012 2:37:00 PM CST January 19, 2012 in News
By: Brian Bondus
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JEFFERSON CITY -  The House Government Oversight Committee on Thursday questioned the decision making process that went into the failed Mamtek Moberly project.

Committee Chairman Jay Barnes, R-Jefferson City, led the interview of Michael Wise, Mamtek's patent attorney, over a video conference in a committee hearing.  

The committee members asked Wise about his visits to the Mamtek factory in China prior to the final closure of the bonds. Wise did visit the factory, but never clearly stated he saw the production of sucralose. He said he assumed the lines were producing in his 2007 and 2009 visits, despite seeing fewer than 20 employees every time he visited the factory. 

Committee Chairman Jay Barnes is worried about Missouri if the bonds do default. 

"The failure of Mamtek has a local impact and very potentially a state wide impact on local communities to borrow money for important public infrastructure projects," Barnes said.

The Senate committee for government oversight questioned members from the Department of Economic Development Wednesday and were concerned with their ability to protect Missouri citizens. 

Both the Senate and House committees plan to have more hearings. Committee Chairman Barnes said after these fact finding hearings he wants the committee to draft legislation to protect Missouri from another failed investment like Mamtek. 

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