Pioneering biodiesel manufacturer Argent Energy sold
23 July 2013
Argent Energy, a leader of large-scale commercial production of biodiesel in the UK, has actually been purchased by a green investment business.
Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for a concealed sum.
Argent makes green road fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat market.
The company 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 stay with the company.
Souter Investments, the personal financial investment company of transport magnate Sir Brian Souter, it had sold its 37% stake in Argent.
'Future potential'
Mr Walker stated the investment by John Swire underlined Argent's strong market position, adding there was now a chance "to take Argent's abilities more afield".
Barnaby Swire, of John Swire, stated his company was committed to "exploring and purchasing ingenious and viable green markets".
He added: "We are thrilled to be obtaining Argent Energy, a company which we believe can grow and succeed not just within the UK however likewise overseas, in particular in Asian markets with which Swire Group business recognize.
"John Swire & Sons Ltd sees in Argent Energy's employees a mix of qualities and values that work with our own, and anticipate dealing with them to increase Argent Energy's future potential."
Argent was established in 2001. In 2009 it was purchased by a consortium which consisted of 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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4 November 2011
Argent Energy
Souter Investments
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Pioneering Biodiesel Producer Argent Energy Sold
Melvina Holte edited this page 2025-01-14 04:17:35 -05:00