Pioneering biodiesel manufacturer Argent Energy sold
23 July 2013
Argent Energy, a leader of large-scale business production of biodiesel in the UK, has actually been bought by a green investment firm.
Argent, based near Motherwell, was offered to a of London-based John Swire & Sons for an undisclosed amount.
Argent makes green roadway fuel by recycling wastes and residues such as used cooking oil and tallow from the meat market.
The company will remain in personal ownership and will continue to run separately.
Its senior management, including chairman Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to remain with the company.
Souter Investments, the private investment company of transportation magnate Sir Brian Souter, confirmed it had actually offered its 37% stake in Argent.
'Future potential'
Mr Walker stated the investment by John Swire highlighted Argent's strong market position, adding there was now a chance "to take Argent's skills further afield".
Barnaby Swire, of John Swire, stated his business was devoted to "checking out and investing in ingenious and feasible green markets".
He included: "We are happy to be obtaining Argent Energy, a company which our company believe can grow and succeed not only within the UK but likewise overseas, in specific in Asian markets with which Swire Group business are familiar.
"John Swire & Sons Ltd sees in Argent Energy's employees a mix of qualities and values that are suitable with our own, and eagerly anticipate dealing with them to increase Argent Energy's future potential."
Argent was established in 2001. In 2009 it was purchased by a consortium which included senior management in addition to 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
Antje Gragg edited this page 2025-01-12 06:54:54 +08:00