Pioneering biodiesel producer Argent Energy sold
23 July 2013
Argent Energy, a leader of massive commercial production of biodiesel in the UK, has been purchased by a green financial investment business.
Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for an undisclosed amount.
Argent makes green road fuel by recycling wastes and residues such as used cooking oil and tallow from the meat industry.
The company will stay in personal ownership and will continue to run individually.
Its senior management, consisting of chairman Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to stay with the business.
Souter Investments, the firm of transportation magnate Sir Brian Souter, verified it had offered its 37% stake in Argent.
'Future capacity'
Mr Walker stated the financial investment by John Swire underlined Argent's strong market position, including there was now a chance "to take Argent's skills additional afield".
Barnaby Swire, of John Swire, said his business was devoted to "checking out and investing in ingenious and viable green industries".
He added: "We are thrilled to be acquiring Argent Energy, a business which we think can grow and flourish not only 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 employees a mix of attributes and worths that work with our own, and anticipate dealing with them to maximise Argent Energy's future capacity."
Argent was established in 2001. In 2009 it was purchased by a consortium which consisted of senior management along with Souter Investments.
Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of biodiesel a year.
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Argent Energy
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Pioneering Biodiesel Producer Argent Energy Sold
annettmasel463 edited this page 2025-01-12 04:22:18 +08:00