Pioneering biodiesel manufacturer Argent Energy sold
23 July 2013
Argent Energy, a leader of large-scale business production of biodiesel in the UK, has been purchased by a green investment firm.
Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a concealed amount.
Argent makes green roadway 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 separately.
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 transport magnate Sir Brian Souter, validated it had actually offered its 37% stake in Argent.
'Future capacity'
Mr Walker said the by John Swire underlined Argent's strong market position, including there was now a chance "to take Argent's abilities more afield".
Barnaby Swire, of John Swire, stated his company was dedicated to "exploring and investing in ingenious and feasible green markets".
He added: "We are pleased to be acquiring Argent Energy, a business which we think can grow and succeed not just within the UK however 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 characteristics and values that are suitable with our own, and look forward to working with them to maximise Argent Energy's future capacity."
Argent was established in 2001. In 2009 it was bought by a consortium which included senior management together with Souter Investments.
Its plant at Newarthill, near Motherwell, has the capability 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
Pedro Mcdougall edited this page 7 days ago