Pioneering biodiesel producer Argent Energy sold
23 July 2013
Argent Energy, a leader of massive industrial production of biodiesel in the UK, has been bought by a firm.
Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for an undisclosed 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 independently.
Its senior management, including chairman Andy Hunter, handling director Jim Walker and financial director Jim Boyd are to remain with the company.
Souter Investments, the personal investment firm of transport magnate Sir Brian Souter, verified it had actually sold its 37% stake in Argent.
'Future potential'
Mr Walker said the financial investment by John Swire highlighted Argent's strong market position, adding there was now an opportunity "to take Argent's skills additional afield".
Barnaby Swire, of John Swire, stated his company was committed to "exploring and purchasing innovative and practical green industries".
He included: "We are thrilled to be acquiring Argent Energy, a business which we believe can grow and prosper not only within the UK however also overseas, in particular in Asian markets with which Swire Group companies are familiar.
"John Swire & Sons Ltd sees in Argent Energy's employees a mix of attributes and values that are compatible with our own, and look forward to dealing with them to maximise Argent Energy's future capacity."
Argent was established in 2001. In 2009 it was purchased by a consortium which 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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Pioneering Biodiesel Producer Argent Energy Sold
rodrigowynne53 edited this page 2025-01-12 18:37:43 +08:00