Pioneering biodiesel manufacturer Argent Energy sold
23 July 2013
Argent Energy, a leader of large-scale industrial production of biodiesel in the UK, has actually been purchased by a green investment company.
Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a concealed sum.
Argent makes green roadway 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 independently.
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 firm of transport tycoon Sir Brian Souter, verified it had offered its 37% stake in Argent.
'Future potential'
Mr Walker said the financial investment by John Swire highlighted Argent's strong market position, including there was now a chance "to take Argent's abilities additional afield".
Barnaby Swire, of John Swire, said his business was devoted to "checking out and investing in ingenious and viable green markets".
He added: "We are thrilled to be acquiring Argent Energy, a business which our company believe can grow and prosper not only within the UK but also overseas, in specific in Asian markets with which Swire Group business are familiar.
" & Sons Ltd sees in Argent Energy's workers a mix of qualities and worths that work with our own, and eagerly anticipate dealing with them to increase Argent Energy's future capacity."
Argent was developed in 2001. In 2009 it was bought by a consortium that 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
Kerstin Daugherty edited this page 2025-01-18 00:54:12 -05:00