An auction will take place Wednesday to pay off the former Mamtek CEO's debt.
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An auction will take place Wednesday to pay off the former Mamtek CEO's debt.

Date: October 23, 2012
By: Jamie Ries
State Capitol Bureau

Intro: 
In a few hours, the remains of a failed international business adventure between a Moberly factory and China leaves the Mamtek CEO locked up and his assets auctioned off.
RunTime:  0:39
OutCue:  SOC

Wrap: A factory in Moberly is auctioning off Mamtek equipment after charges were filed against the CEO.

The charges came after missing the bond payment for the project.

Governor Jay Nixon and Mamtek CEO Bruce Cole announced the factory project together in 2010.

Managing partner Kirk Dove of Heritage Global Partners auctioning company says he expects a small local audience and a large online audience.

Actuality:  AUC3.WAV
Run Time:  00:10
Description: "We have conducted significant presales right now for the company and the remainder of the items will be sold at the public auction."

Dove says his company spent millions on the Mamtek equipment.

Reporting from the state Capitol, I'm Jamie Ries.

Intro: 
A worldwide auctioning company expects Missouri manufacturers to buy equipment from the Moberly auction.
RunTime:  0:41
OutCue:  SOC

Wrap: An Internet auction on Wednesday will pay off former Mamtek CEO's unpaid debts.  

Bruce Cole's unused land and equipment for the project will be auctioned.  

Cole is accused of fraud and theft for transferring over 200,000 dollars into his wife's account from Mamtek.

Managing partner Kirk Dove of Heritage Global Partners auctioning company says he expects original buyers, pharmaceutical companies, and resellers at the auction.

Actuality:  AUC4.WAV
Run Time:  00:09
Description: "This will be great on their factory floors and in their warehouses to go with the inventory. So I think you'll have those three types of buyers participate."
 
He says buyers will most likely buy the equipment for resale purposes.

Reporting from the state Capitol, I'm Jamie Ries.

Intro: 
A worldwide auctioning company will open bargains for former Mamtek CEO's unused lands and equipment.
RunTime:  0:36
OutCue:  SOC

Wrap: Former Mamtek CEO Bruce Cole is in both debt and jail after having fraudulent charges filed against him.

Cole is accused of transferring over 200,000 dollars into his wife's account from Mamtek.

Spokesperson Daniel Abbatoy of Heritage Global Partners says the company does auctions worldwide.

He says the auction will start large and end small.

Actuality:  AUC5.WAV
Run Time:  00:09
Description: "We will be doing a bulk bid and then actual piece mill assets that are for this company."
 
Abbatoy says local biodiesel plants have demonstrated interest in equipment.
 
Reporting from the state Capitol, I'm Jamie Ries.


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