Mamtek Update

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Moberly - There continues to be a lot of confusion tonight about the job market in Moberly. Mamtek, a China based company, promised 160 jobs in phase one of the project. The problem is Mamtek failed to make its first bond payment.

The vacant Mamtek plant was supposed to make sucralose, a sugar like substance.

Signs even claim there is a future for Mamtek in Moberly. But that future is getting dim. On Monday, mamtek was set to meet with UMB bank, the trustee of the bonds. Last minute plans changed. Company representatives called the day before and cancelled.There was a conference call Tuesday for the bondholders and KOMU tried to reach a spokesperson for UMB bank but calls went unreturned.

It's unclear whether the city will pay more money to prevent the company from going under and not meeting its promise for jobs.

In a notice to the bank, Mamtek says it feels the project as a whole is still viable. It needs another $20 to $44 million to finish the job.

 

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