Pioneering biodiesel producer Argent Energy offered
23 July 2013
Argent Energy, a pioneer of large-scale commercial production of biodiesel in the UK, has been bought by a green financial investment business.
Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for an undisclosed sum.
Argent makes green roadway fuel by and residues such as used cooking oil and tallow from the meat industry.
The company will remain in personal ownership and will continue to run independently.
Its senior management, including chairman Andy Hunter, managing director Jim Walker and monetary director Jim Boyd are to stay with the company.
Souter Investments, the personal financial investment company of transportation tycoon Sir Brian Souter, confirmed it had offered its 37% stake in Argent.
'Future potential'
Mr Walker stated the investment by John Swire highlighted Argent's strong market position, including there was now a chance "to take Argent's skills further afield".
Barnaby Swire, of John Swire, stated his company was devoted to "exploring and purchasing innovative and viable green markets".
He included: "We are thrilled to be acquiring Argent Energy, a company 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 are familiar.
"John Swire & Sons Ltd sees in Argent Energy's employees a mix of qualities and values that are suitable with our own, and look forward to dealing with them to increase Argent Energy's future potential."
Argent was established in 2001. In 2009 it was bought by a consortium which included senior management in addition to Souter Investments.
Its plant at Newarthill, near Motherwell, has the capability to produce as much as 50 million litres of biodiesel a year.
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Pioneering Biodiesel Producer Argent Energy Sold
finleyabney02 edited this page 2025-01-11 11:05:27 -07:00