Pioneering biodiesel manufacturer Argent Energy sold
23 July 2013
Argent Energy, a leader of large-scale industrial production of biodiesel in the UK, has 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 fuel by recycling wastes and residues such as used cooking oil and tallow from the meat market.
The company will stay in personal ownership and will continue to run separately.
Its senior management, consisting of chairman Andy Hunter, managing 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 offered its 37% stake in Argent.
'Future capacity'
Mr Walker stated the investment by John Swire highlighted Argent's strong market position, adding there was now a chance "to take Argent's abilities more afield".
Barnaby Swire, of John Swire, stated his company was devoted to "exploring and investing in innovative and practical green markets".
He included: "We are happy to be getting Argent Energy, a company which we believe can grow and succeed not just within the UK but likewise overseas, in particular in Asian markets with which Swire Group business are familiar.
"John Swire & Sons Ltd sees in Argent Energy's staff members a mix of attributes and worths that are suitable with our own, and eagerly anticipate working 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 along with Souter Investments.
Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 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
lawerencedame9 edited this page 2025-01-12 03:50:22 +08:00