Pioneering biodiesel manufacturer Argent Energy sold
23 July 2013
Argent Energy, a leader of large-scale business production of biodiesel in the UK, has actually been purchased by a green financial investment company.
Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for a concealed amount.
Argent makes green road fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat market.
The firm will remain in personal ownership and will continue to run separately.
Its senior management, consisting of chairman Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to remain with the business.
Souter Investments, the private investment company of transportation tycoon Sir Brian Souter, verified it had actually offered its 37% stake in Argent.
'Future potential'
Mr Walker said the investment by John Swire underlined Argent's strong market position, there was now a chance "to take Argent's abilities additional afield".
Barnaby Swire, of John Swire, stated his business was devoted to "exploring and buying ingenious and viable green industries".
He included: "We are happy to be getting Argent Energy, a business which we believe can grow and flourish not just within the UK however also overseas, in particular in Asian markets with which Swire Group business recognize.
"John Swire & Sons Ltd sees in Argent Energy's workers a mix of qualities and values that work with our own, and eagerly anticipate dealing with them to increase Argent Energy's future potential."
Argent was established in 2001. In 2009 it was bought by a consortium that 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.
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4 November 2011
Argent Energy
Souter Investments
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Pioneering Biodiesel Producer Argent Energy Sold
Candelaria Amaral edited this page 2025-01-12 06:22:26 +08:00