Pioneering biodiesel producer Argent Energy offered
23 July 2013
Argent Energy, a leader of large-scale commercial production of biodiesel in the UK, has been purchased by a green investment firm.
Argent, based near Motherwell, was offered 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 used cooking oil and tallow from the meat market.
The firm will stay in personal ownership and will continue to run separately.
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 private investment firm of transportation magnate Sir Brian Souter, confirmed it had offered its 37% stake in Argent.
'Future potential'
Mr Walker stated the investment by John Swire underlined Argent's strong market position, including there was now an opportunity "to take Argent's abilities more afield".
Swire, of John Swire, stated his business was committed to "exploring and buying ingenious and practical green markets".
He added: "We are delighted to be getting Argent Energy, a company which we think 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 characteristics and worths that work with our own, and look forward to working with them to maximise Argent Energy's future potential."
Argent was established in 2001. In 2009 it was bought by a consortium that included senior management along with Souter Investments.
Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of biodiesel a year.
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Pioneering Biodiesel Producer Argent Energy Sold
lourdessowers0 edited this page 2025-01-11 11:23:03 +00:00