Low Interest in Mamtek Leftovers at Mo. Auction

5 years 11 months 3 weeks ago Wednesday, October 24 2012 Oct 24, 2012 Wednesday, October 24, 2012 11:27:00 AM CDT October 24, 2012 in News
By: Associated Press

MOBERLY - An auction of assets left from a failed artificial sweetener factory in Moberly is drawing curious onlookers but few big buyers.

The auction of Mamtek U.S. property drew more than 20 prospective bidders Wednesday morning to a Moberly hotel ballroom, joined by online participants.

Buyers sought deals on individual pieces of equipment owned by Mamtek, but no one submitted a big for the company's real estate or its intellectual property.

The company's financing collapsed last year after it receievd $39 million of industral development bonds from the city of Moberly. Mamtek also hoped to collect up to $17 million of state tax incentives to build the factory.

Former Mamtek CEO Bruce Cole faces fraud and stealing charges and remains in the Randolph County Jail awaiting trial.

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