Pioneering biodiesel producer Argent Energy sold
23 July 2013
Argent Energy, a leader of massive commercial production of biodiesel in the UK, has actually been bought by a green financial investment business.
Argent, based near Motherwell, was offered 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 personal ownership and will continue to run separately.
Its senior management, consisting of chairman Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to stay with the company.
Souter Investments, the private investment firm of transportation tycoon Sir Brian Souter, confirmed it had its 37% stake in Argent.
'Future potential'
Mr Walker stated the financial investment by John Swire underlined Argent's strong market position, adding there was now an opportunity "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 included: "We are pleased to be getting Argent Energy, a company which we believe can grow and succeed not only within the UK but likewise overseas, in specific in Asian markets with which Swire Group business recognize.
"John Swire & Sons Ltd sees in Argent Energy's workers a mix of attributes and worths that are compatible with our own, and look forward to working with them to maximise Argent Energy's future capacity."
Argent was developed in 2001. In 2009 it was bought by a consortium which included senior management together 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
Mattie Bray edited this page 2025-01-18 14:04:12 +08:00