Pioneering biodiesel producer Argent Energy sold
23 July 2013
Argent Energy, a leader of massive commercial production of biodiesel in the UK, has been bought by a green 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 used cooking oil and tallow from the meat market.
The company will remain in private ownership and will continue to run individually.
Its senior management, consisting of chairman Andy Hunter, handling director Jim Walker and financial director Jim Boyd are to stay with the business.
Souter Investments, the personal investment firm of transport magnate Sir Brian Souter, confirmed it had actually sold its 37% stake in Argent.
'Future capacity'
Mr Walker stated the financial investment by John Swire highlighted Argent's strong market position, adding there was now a chance "to take Argent's abilities additional afield".
Barnaby Swire, of John Swire, stated his company was committed to "checking out and purchasing innovative and viable green industries".
He included: "We are thrilled to be obtaining Argent Energy, a business which our company believe can grow and flourish not only within the UK but also overseas, in particular in Asian markets with which Swire Group business are familiar.
" & Sons Ltd sees in Argent Energy's employees a mix of characteristics and values that are suitable with our own, and look forward to working with them to increase Argent Energy's future potential."
Argent was established in 2001. In 2009 it was purchased by a consortium that 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.
Cooking oil to run buses in trial
4 November 2011
Argent Energy
Souter Investments
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Pioneering Biodiesel Producer Argent Energy Sold
Wilbur Garrison edited this page 2025-01-11 03:18:23 +03:00