Pioneering biodiesel producer Argent Energy offered
23 July 2013
Argent Energy, a leader of massive business production of biodiesel in the UK, has actually 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 road fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat industry.
The firm will remain in personal ownership and will continue to run independently.
Its senior management, consisting of chairman Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to stay with the business.
Souter Investments, the private financial investment company of transportation tycoon Sir Brian Souter, validated it had offered its 37% stake in Argent.
'Future capacity'
Mr Walker stated the investment by John Swire underlined Argent's strong market position, including there was now a chance "to take Argent's skills more afield".
Barnaby Swire, of John Swire, stated his company was committed to "exploring and buying innovative and viable green industries".
He included: "We are happy to be getting Argent Energy, a company which our company believe can grow and succeed not only within the UK but likewise overseas, in particular in Asian markets with which Swire Group business are familiar.
" & Sons Ltd sees in Argent Energy's staff members a mix of characteristics and worths that work with our own, and eagerly anticipate working with them to maximise Argent Energy's future capacity."
Argent was established in 2001. In 2009 it was purchased by a consortium that included senior management together with 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
Willis Harries edited this page 2025-01-18 18:37:34 +08:00