Pioneering biodiesel producer Argent Energy sold
23 July 2013
Argent Energy, a pioneer of large-scale business production of biodiesel in the UK, has actually been purchased by a green financial investment business.
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 utilized cooking oil and tallow from the meat industry.
The firm will remain in private ownership and will continue to run individually.
Its senior management, including chairman Andy Hunter, handling director Jim Walker and financial director Jim Boyd are to remain with the business.
Souter Investments, the personal financial investment company of transport tycoon Sir Brian Souter, verified it had sold its 37% stake in Argent.
'Future potential'
Mr Walker stated the financial investment by John Swire underlined Argent's strong market position, adding there was now an opportunity "to take Argent's abilities additional afield".
Barnaby Swire, of John Swire, said his company was devoted to "exploring and purchasing ingenious and practical green markets".
He added: "We are happy to be getting 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 companies recognize.
"John Swire & Sons Ltd sees in Argent Energy's workers a mix of attributes and worths that work with our own, and anticipate working with them to maximise Argent Energy's future capacity."
Argent was established in 2001. In 2009 it was purchased by a consortium that 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.
Cooking oil to run buses in trial
4 November 2011
Argent Energy
Souter Investments
1
Pioneering Biodiesel Producer Argent Energy Sold
daniellacastle edited this page 2025-01-18 13:02:11 +01:00