Pioneering biodiesel manufacturer Argent Energy offered
23 July 2013
Argent Energy, a pioneer of massive commercial production of biodiesel in the UK, has actually been purchased by a green investment firm.
Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for an amount.
Argent makes green roadway fuel by recycling wastes and residues such as used cooking oil and tallow from the meat industry.
The firm will remain in private ownership and will continue to run independently.
Its senior management, consisting of chairman Andy Hunter, handling director Jim Walker and financial director Jim Boyd are to remain with the business.
Souter Investments, the private financial investment company of transportation magnate Sir Brian Souter, validated it had offered its 37% stake in Argent.
'Future capacity'
Mr Walker stated the investment by John Swire underlined Argent's strong market position, adding there was now a chance "to take Argent's skills more afield".
Barnaby Swire, of John Swire, stated his business was devoted to "checking out and buying innovative and viable green markets".
He included: "We are thrilled to be obtaining Argent Energy, a business which we think can grow and succeed not only within the UK however also overseas, in particular in Asian markets with which Swire Group business are familiar.
"John Swire & Sons Ltd sees in Argent Energy's employees a mix of characteristics and values that work with our own, and eagerly anticipate working with them to increase Argent Energy's future potential."
Argent was established 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 capability to produce as much as 50 million litres of biodiesel a year.
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Pioneering Biodiesel Producer Argent Energy Sold
Vincent Mauger edited this page 2025-01-12 11:46:23 +08:00