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Chocolate Plant Sold To Company That Sells To Others

A photo of the Nestle plant from around 1995, from the New York Chocolate and Confections website.

A photo of the Nestle plant from around 1995, from the New York Chocolate and Confections website.

Hopes for a revival of chocolate production in Fulton appear slim after Wednesday’s sale of the factory and its equipment to a company that specializes in selling off the parts of the companies it acquires.

GoIndustry DoveBid made a winning bid in U. S. Bankruptcy Court in Syracuse of $2.5 million for the nearly century-old former Nestle factory on the city’s southeast side.

The county’s economic development arm, Operation Oswego County, placed second in the bidding with a bid of $1 million.  The agency has been trying to convince another chocolate or confections company to buy the factory and its equipment, some of which is new, installed by the Ivory Coast company that failed to get up and running in the plant.

If GoIndustry DoveBid fails to close on the purchase of the plant, Operation Oswego County’s second place bid would put it in line to receive the plant.

Though GoIndustry DoveBid could sell the entire plant to a company willing to operate in Fulton, its website is dominated by news of the auctions it is holding to sell off the pieces of various companies.

The company describes itself this way: “GoIndustry DoveBid is a leading provider of asset management services. If surplus or idle assets are no longer needed, we can help you understand what they are worth, whether they can be re-deployed elsewhere in your organisation, and if not, sell them at auction on your behalf.”

A company with ties to the government of the Ivory Coast attempted to restart chocolate production in Fulton to make use of  the country’s vast raw cocoa supplies.  But New York Chocolate and Confections was never able to produce more than a few test batches for public relations purposes as it became mired in internal fighting and lawsuits.

The company recently decided to shut down and declare bankruptcy.   It is fully paid up on its tax bills to local governments.

The first chocolate made in North America was made in the Fulton factory at the turn of the 20th century.  Nestle closed the plant in May, 2003.

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One thought on “Chocolate Plant Sold To Company That Sells To Others

  1. Since Operation Oswego County was willing to spend a million bucks to “save it” for a potential manufacturer, Why not buy it from the firm, level half of it, make some nice green area (which would be a MAJOR improvement) and sell the other half that is left to Cayuga Community College for their Fulton Campus.

    At least that way the community would get something out of it, and the college is looking to purchase a new home… Who knows, may even spur some growth back down 481 through the city…

    Come on city and county officials, let’s get this done and make a positive out of a negative!

    Ralph E. Stacy, Jr.
    4th Ward Resident – City of Fulton

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