Pioneering biodiesel producer Argent Energy offered
23 July 2013
Argent Energy, a leader of massive 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 a concealed sum.
Argent makes green roadway fuel by recycling wastes and residues such as oil and tallow from the meat industry.
The company will remain in personal ownership and will continue to run individually.
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 tycoon Sir Brian Souter, verified it had actually sold its 37% stake in Argent.
'Future potential'
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, said his company was dedicated to "exploring and buying ingenious and viable green industries".
He included: "We are delighted to be acquiring Argent Energy, a business which our company believe can grow and prosper not only within the UK but likewise overseas, in specific in Asian markets with which Swire Group business recognize.
"John Swire & Sons Ltd sees in Argent Energy's staff members a mix of qualities and values that are suitable 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 purchased by a consortium that included senior management in addition to Souter Investments.
Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 50 million litres of biodiesel a year.
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Pioneering Biodiesel Producer Argent Energy Sold
Catharine Creswick edited this page 2025-01-13 08:52:06 +08:00