Pioneering biodiesel producer Argent Energy sold
23 July 2013
Argent Energy, a pioneer of large-scale industrial production of biodiesel in the UK, has actually been purchased by a green investment firm.
Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for an undisclosed sum.
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 .
Its senior management, including chairman Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to remain with the company.
Souter Investments, the private investment firm of transportation magnate Sir Brian Souter, verified it had actually offered its 37% stake in Argent.
'Future capacity'
Mr Walker said the financial investment by John Swire highlighted Argent's strong market position, including there was now an opportunity "to take Argent's skills further afield".
Barnaby Swire, of John Swire, said his company was dedicated to "checking out and buying ingenious and practical green industries".
He added: "We are thrilled to be obtaining Argent Energy, a business which we believe can grow and succeed not just 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 workers a mix of characteristics and worths that work with our own, and eagerly anticipate working with them to increase Argent Energy's future potential."
Argent was developed in 2001. In 2009 it was purchased by a consortium which 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.
Cooking oil to run buses in trial
4 November 2011
Argent Energy
Souter Investments
1
Pioneering Biodiesel Producer Argent Energy Sold
gilbertthomas edited this page 2025-01-11 22:08:07 +01:00