Pioneering biodiesel producer Argent Energy sold
23 July 2013
Argent Energy, a pioneer of massive business production of biodiesel in the UK, has actually been purchased by a green investment firm.
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 industry.
The firm will remain in personal ownership and will continue to run independently.
Its senior management, including chairman Andy Hunter, managing director Jim Walker and financial director Jim Boyd are to stay with the business.
Souter Investments, the personal investment business of transportation magnate Sir Brian Souter, confirmed it had actually sold its 37% stake in Argent.
'Future capacity'
Mr Walker said the investment by John Swire highlighted Argent's strong market position, including there was now a chance "to take Argent's abilities further afield".
Barnaby Swire, of John Swire, stated his business was devoted to "exploring and purchasing innovative and viable green markets".
He included: "We are happy to be acquiring Argent Energy, a company which we believe can grow and prosper not just 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 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 together 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
Souter Investments
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Pioneering Biodiesel Producer Argent Energy Sold
Bradley Chave edited this page 2025-01-12 09:15:20 +08:00