Pioneering biodiesel producer Argent Energy offered
23 July 2013
Argent Energy, a pioneer of large-scale business production of biodiesel in the UK, has been bought by a green investment company.
Argent, based near Motherwell, was sold 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 industry.
The company will remain in personal ownership and will continue to run individually.
Its senior management, including chairman Andy Hunter, managing director Jim Walker and monetary director Jim Boyd are to remain with the business.
Souter Investments, the personal investment company of transport magnate Sir Brian Souter, verified it had offered its 37% stake in Argent.
'Future capacity'
Mr Walker stated the by John Swire highlighted Argent's strong market position, including there was now a chance "to take Argent's skills additional afield".
Barnaby Swire, of John Swire, stated his company was devoted to "checking out and purchasing innovative and feasible green markets".
He included: "We are happy to be getting Argent Energy, a business which we think can grow and flourish not just within the UK but likewise overseas, in specific in Asian markets with which Swire Group companies recognize.
"John Swire & Sons Ltd sees in Argent Energy's workers a mix of qualities and values that are suitable with our own, and anticipate working with them to maximise Argent Energy's future capacity."
Argent was developed in 2001. In 2009 it was bought by a consortium that included senior management together with Souter Investments.
Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of biodiesel a year.
Cooking oil to run buses in trial
4 November 2011
Argent Energy
Souter Investments
1
Pioneering Biodiesel Producer Argent Energy Sold
Carlton Howden edited this page 2025-01-11 17:33:21 +01:00