Pioneering biodiesel producer Argent Energy offered
23 July 2013
Argent Energy, a pioneer of large-scale commercial production of biodiesel in the UK, has actually been bought by a green financial investment business.
Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a concealed amount.
Argent makes green road fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat market.
The firm will remain in personal ownership and will continue to run independently.
Its senior management, including chairman Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to remain with the business.
Souter Investments, the investment business of transport tycoon Sir Brian Souter, validated it had offered its 37% stake in Argent.
'Future potential'
Mr Walker stated the financial investment by John Swire highlighted Argent's strong market position, including there was now an opportunity "to take Argent's skills further afield".
Barnaby Swire, of John Swire, stated his business was devoted to "checking out and buying ingenious and viable green industries".
He included: "We are pleased to be obtaining Argent Energy, a company which we believe can grow and prosper not just within the UK however likewise overseas, in particular in Asian markets with which Swire Group business are familiar.
"John Swire & Sons Ltd sees in Argent Energy's staff members a mix of qualities and values that work with our own, and eagerly anticipate working with them to maximise Argent Energy's future capacity."
Argent was developed 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 approximately 50 million litres of biodiesel a year.
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Pioneering Biodiesel Producer Argent Energy Sold
Rosetta Osburn edited this page 2025-01-11 21:12:35 +08:00