Pioneering biodiesel manufacturer Argent Energy sold
23 July 2013
Argent Energy, a pioneer of large-scale business 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 an undisclosed 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 private ownership and will continue to run individually.
Its senior management, including chairman Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to remain with the business.
Souter Investments, the private investment firm of transport magnate Sir Brian Souter, validated it had actually sold its 37% stake in Argent.
'Future capacity'
Mr Walker said the financial investment by John Swire highlighted Argent's strong market position, adding there was now an opportunity "to take Argent's skills additional afield".
Barnaby Swire, of John Swire, said his business was dedicated to "checking out and investing in innovative and viable green markets".
He included: "We are happy to be acquiring Argent Energy, a company which our company believe can grow and prosper not only within the UK however likewise overseas, in specific in Asian markets with which Swire Group business are familiar.
" & Sons Ltd sees in Argent Energy's staff members a mix of characteristics and worths that work with our own, and look forward to working with them to maximise Argent Energy's future capacity."
Argent was developed in 2001. In 2009 it was bought by a consortium which included senior management along with 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
Forrest Mercer edited this page 2025-01-12 05:57:17 +08:00