Pioneering biodiesel manufacturer Argent Energy offered
23 July 2013
Argent Energy, a pioneer of large-scale business production of biodiesel in the UK, has actually been purchased by a green investment company.
Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for an undisclosed sum.
Argent makes green road fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat industry.
The firm will stay in private ownership and will continue to run individually.
Its senior management, consisting of chairman Andy Hunter, managing Walker and monetary director Jim Boyd are to stay with the company.
Souter Investments, the private investment firm of transportation magnate Sir Brian Souter, validated it had sold its 37% stake in Argent.
'Future capacity'
Mr Walker said the financial investment by John Swire underlined Argent's strong market position, adding there was now an opportunity "to take Argent's abilities more afield".
Barnaby Swire, of John Swire, said his business was dedicated to "checking out and buying innovative and practical green markets".
He added: "We are thrilled to be getting Argent Energy, a company which we think can grow and prosper not just within the UK however likewise overseas, in particular in Asian markets with which Swire Group companies recognize.
"John Swire & Sons Ltd sees in Argent Energy's workers a mix of attributes and values that are compatible with our own, and eagerly anticipate working with them to increase Argent Energy's future potential."
Argent was established in 2001. In 2009 it was bought by a consortium which consisted of senior management in addition to Souter Investments.
Its plant at Newarthill, near Motherwell, has the capability to produce up to 50 million litres of biodiesel a year.
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Pioneering Biodiesel Producer Argent Energy Sold
Alicia Partin edited this page 2025-01-13 06:48:21 +08:00