Assets from Mo. Sweetener Plant to Be Auctioned

Assets from a failed artificial sweetener facility in Moberly will be auctioned this fall, because the bondholder trustee could not find a buyer for the plant, according to UMB Bank.  Bank officials said they spent at least four months searching for a buyer for Mamtek U.S. Inc.’s facility and contacted about 100 potential investors.  Construction on the partially completed plant was halted last fall after Mamtek missed a payment to Moberly.  The city issued $39 million in bonds to finance construction of the plant, and the state offered about $17 million in incentives.  UMB Bank later took control of the plant and filed a lawsuit against Mamtek in federal bankruptcy court.  The project’s failure prompted state lawmakers, Missouri Attorney General Chris Koster, and the federal Securities and Exchange Commission to launch their own investigations.