Pioneering biodiesel manufacturer Argent Energy offered
23 July 2013
Argent Energy, a leader of large-scale industrial production of biodiesel in the UK, has been bought by a green investment business.
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 used cooking oil and tallow from the meat industry.
The firm will remain in personal 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 private financial investment company of transportation tycoon Sir Brian Souter, verified it had offered its 37% stake in Argent.
'Future capacity'
Mr Walker stated the investment by John Swire underlined Argent's position, adding there was now a chance "to take Argent's skills more afield".
Barnaby Swire, of John Swire, said his business was dedicated to "exploring and purchasing innovative and feasible green markets".
He added: "We are happy to be acquiring Argent Energy, a company which we believe can grow and flourish not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group business recognize.
"John Swire & Sons Ltd sees in Argent Energy's staff members a mix of qualities and worths that are compatible with our own, and eagerly anticipate dealing with them to increase Argent Energy's future potential."
Argent was developed in 2001. In 2009 it was bought by a consortium that included senior management in addition to Souter Investments.
Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 50 million litres of biodiesel a year.
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Pioneering Biodiesel Producer Argent Energy Sold
Fran Eskridge edited this page 2025-01-12 16:10:39 +08:00