Mamtek called Governor Holden last week to reassure the project
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Mamtek called Governor Holden last week to reassure the project

Date: September 13, 2011
By: Tong Gao
State Capitol Bureau

 
Intro: 
Moberly's partnership with the artificial sweetener manufacturer Mamtek seems to be turning sour.
RunTime:  0:53
OutCue:  SOC

Wrap: Just a few days after the former Governor Bob Holden cited Mamtek as a successful project that benefits local economy in Moberly, the Columbia Daily Tribune reports the company is now in financial trouble.

Holden says Mamtek CEO Bruce Cole called him last week to reassure him that Mamtek will stick with the Moberly project.

Actuality:  MAMTEK1.WAV
Run Time:  00:19
Description: "As I understand it, they missed their September payment. But the conversations I've heard about they indicated that they were still perceiving with the project. There is a discussion, or negotiation, I don't know what to call it, between Moberly and Mamtek as we speak."

However, Senate Committees Appropriations Chair Kurt Schaefer says, it's his understanding that the company was in default since July.

Schaefer says they will continue to find out the information about this issue.

Reporting from the state capitol, I'm Tong Gao.

 

 

Intro: 
Midwest US China Association chairman says they are not engaging in Mamtek-Moberly negotiation.
RunTime:  0:47
OutCue:  SOC

Wrap: 

Just a few days after the former Governor Bob Holden cited Mamtek as a successful project that benefits local economy in Moberly, the Columbia Daily Tribune reports the company is now in financial trouble.

Holden is serving as the chair of Midwest US China Association, which helped with Mamtek-Moberly business partnership.

Actuality:  MAMTEK2.WAV
Run Time:  00:18
Description: "What we do is getting information out, and if the parties want to talk, we encourage them to talk and whom to talk, and we step out of the discussion. We do not get involved with the negotiation, the contract and the legal financial activities. "

Holden says his association passed Mamtek's information to the 12 states in Midwest, but didn't check the company's financial status.

Reporting from the state capitol, I'm Tong Gao.

Intro: 
Senate Committees Appropriations Chair Kurt Schaefer says Mamtek has been in default since July.
RunTime:  0:42
OutCue:  SOC

Wrap:  Moberly's partnership with the artificial sweetener manufacturer Mamtek seems to be turning sour.

The Cici-award winner, Mamtek-Moberly project was expected to create 600 new jobs, but now is sticking the city with payments on a $39 million bond deal.

Senate Committees Appropriations Chair Kurt Schaefer says it's going to hurt local taxpayers.

Actuality:  MAMTEKS2.WAV
Run Time:  00:15
Description: "Obviously it's sponsored by the City of Moberly, and then there's a default. I don't know the details of the arrangement. What we are trying to find out now is what are the details of the backings and the bonds. But potentially that could lead to a real issue for tax payers of Moberly and Randolph County."

Schaefer says it's his understanding that Mamtek was in default since July.

Reporting from the State Capitol, I'm Tong Gao.


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