Pioneering biodiesel manufacturer Argent Energy sold
23 July 2013
Argent Energy, a pioneer of large-scale business production of biodiesel in the UK, has actually been bought by a green investment company.
Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for an undisclosed amount.
Argent makes green roadway fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat market.
The company will stay in private ownership and will continue to run individually.
Its senior management, including chairman Andy Hunter, managing director Jim Walker and financial director Jim Boyd are to stay with the business.
Souter Investments, the personal financial investment company of transport tycoon Sir Brian Souter, validated it had actually offered its 37% stake in Argent.
'Future potential'
Mr Walker stated the investment by John Swire underlined Argent's strong market position, adding there was now an opportunity "to take Argent's skills more afield".
Barnaby Swire, of John Swire, said his company was devoted to "exploring and buying innovative and viable green industries".
He added: "We are thrilled to be obtaining Argent Energy, a company which our company believe can grow and prosper not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.
"John Swire & Sons Ltd sees in Argent Energy's staff members a mix of attributes and worths that are compatible with our own, and eagerly anticipate dealing with them to maximise Argent future capacity."
Argent was established in 2001. In 2009 it was purchased by a consortium which included senior management along with Souter Investments.
Its plant at Newarthill, near Motherwell, has the capacity to produce up to 50 million litres of biodiesel a year.
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Pioneering Biodiesel Producer Argent Energy Sold
Sadie Gooding edited this page 2025-01-12 08:01:06 +08:00