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Filing: SEC investigating Mo. sweetener project

Filing: SEC investigating Mo. sweetener project

September 30th, 2011 in News

COLUMBIA, Mo. (AP) - A recent disclosure indicates the Securities and Exchange Commission is investigating a so-far unfulfilled project to produce artificial sweetener in central Missouri.

Mamtek U.S. Inc. planned to employ several hundred people at a sweetener plant in Moberly. The city issued $39 million in industrial development bonds and the state offered more than $17 million in incentives, though no state funds went to the company.

The plant still is under construction, but Mamtek has laid off its employees and the company missed a bond payment.

The Columbia Daily Tribune reports (http://bit.ly/n5cyEc ) bond trustee UMB Bank disclosed in a filing that the SEC has been investigating Mamtek. Moberly City Manager Andy Morris says the city has provided documents the federal commission requested.

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Information from: Columbia Daily Tribune, http://www.columbiatribune.com