Pioneering biodiesel producer Argent Energy sold
23 July 2013
Argent Energy, a pioneer of massive industrial production of biodiesel in the UK, has been bought by a green investment firm.
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 industry.
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 stay with the business.
Souter Investments, the personal investment business of transport magnate Sir Brian Souter, validated it had actually sold its 37% stake in Argent.
'Future potential'
Mr Walker said the investment by John Swire highlighted Argent's strong market position, there was now a chance "to take Argent's skills additional afield".
Barnaby Swire, of John Swire, stated his company was dedicated to "exploring and buying innovative and feasible green markets".
He added: "We are thrilled to be getting Argent Energy, a company which our company believe can grow and succeed not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group business are familiar.
"John Swire & Sons Ltd sees in Argent Energy's workers a mix of attributes and worths that are suitable with our own, and eagerly anticipate dealing with them to maximise Argent Energy's future potential."
Argent was developed in 2001. In 2009 it was bought by a consortium which consisted of senior management along with Souter Investments.
Its plant at Newarthill, near Motherwell, has the capability to produce as much as 50 million litres of biodiesel a year.
Cooking oil to run buses in trial
4 November 2011
Argent Energy
Souter Investments
1
Pioneering Biodiesel Producer Argent Energy Sold
olgamicklem31 edited this page 2025-01-11 21:35:20 +01:00