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UPDATE: Auction of Mamtek assets draws few big buyers

Wednesday, October 24, 2012 | 11:45 a.m. CDT; updated 12:55 p.m. CDT, Wednesday, October 24, 2012

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 bid for the company's real estate or its intellectual property.

The company's financing collapsed last year after it received $39 million of industrial 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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