MFA Oil to Buy 33 Acre Mamtek Site in Moberly
MOBERLY - MFA Oil announced late Tuesday it has a contract to buy a 33 acre commercial site, owned by Mamtek, which was originally supposed to house an artificial sweetner factory. The bankruptcy court approved the sale of the property, but a closing date has not been set.
Mark Fenner, chief operating officer of MFA Oil, said the land was bought so the company can upgrade some of its current support operations and explore future business opportunities.
The company indicated it will take significant investment to finish the development.
The site is located near Highway 63. The property includes a 28,000 foot, partially constructed warehouse and a large canopy structure.
MFA Oil Company is a farmer-owned cooperative based in Columbia.
The city of Moberly invested $39 million in the failed facility.