Moberly Bank Says Mamtek Owes For 2 Vehicles

7 years 3 weeks 3 days ago Wednesday, September 28 2011 Sep 28, 2011 Wednesday, September 28, 2011 9:47:15 AM CDT September 28, 2011 in News
By: Associated Press

MOBERLY - A Missouri bank says the company behind an unfulfilled promise to build an artificial sweetener plant has defaulted on payments for two vehicles.

Mamtek U.S. Inc. planned to employ several hundred people at a plant in Moberly. The city issued $39 million in bonds, and the state offered $17 million in incentives. The plant is still under construction and Mamtek has missed a bond payment.

The Moberly Monitor-Index reports City Bank and Trust wants Mamtek to pay about $30,000 plus interest for a 2009 Chevy Silverado and 2006 GMC Envoy. The bank also wants the vehicles returned, saying Mamtek defaulted on vehicle payments in July.

The vehicles are on property owned by the Moberly Industrial Development Authority. The chairman of the development authority says the bank has not presented sufficient proof that it owns the vehicles.

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