MOBERLY, Mo. - On Monday MFA Oil officially confirmed their purchase of a failed Mid-Missouri artificial sweetner plant. The announcement was made public in December and recently finalized.
"This property provides MFA Oil with some strategic opportunities," said Chief Operating Officer Mark Fenner in a previous statement. "The site has convenient access to 63 Highway and will allow us to upgrade some of our current support operations and explore future business opportunities. We look forward to partnering with the city of Moberly to turn this property into economic engine that it was originally designed to be."
The company says it will take a "significant investment" to finish development on the site. MFA spokesman Tom May told ABC 17 News on Monday the company will move a maintenance warehouse, truck shop and lab from Columbia to Moberly. He says construction will begin this spring and will take at least 8 months to complete.
"It certainly is a good sign," Moberly City Manager Andrew Morris said in December. "It will help us out financially certainly on the city's end though our finances are still in pretty good shape."