Pioneering biodiesel manufacturer Argent Energy sold
23 July 2013
Argent Energy, a pioneer of large-scale commercial production of biodiesel in the UK, has actually been bought 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 market.
The company will remain in personal ownership and will continue to run individually.
Its senior management, consisting of chairman Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to stay with the business.
Souter Investments, the personal investment company of transportation magnate Sir Brian Souter, verified it had its 37% stake in Argent.
'Future capacity'
Mr Walker stated the financial investment by John Swire underlined Argent's strong market position, adding there was now a chance "to take Argent's abilities further afield".
Barnaby Swire, of John Swire, said his business was dedicated to "exploring and buying ingenious and practical green industries".
He added: "We are happy to be obtaining Argent Energy, a company which we think can grow and flourish not only within the UK however also overseas, in particular in Asian markets with which Swire Group companies are familiar.
"John Swire & Sons Ltd sees in Argent Energy's workers a mix of characteristics and values that are compatible with our own, and look forward to dealing with them to maximise Argent Energy's future potential."
Argent was developed in 2001. In 2009 it was bought by a consortium which 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.
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Argent Energy
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Pioneering Biodiesel Producer Argent Energy Sold
Antoine Torrez edited this page 2025-01-12 02:04:38 +08:00