Pioneering biodiesel producer Argent Energy sold
23 July 2013
Argent Energy, a leader of massive commercial production of biodiesel in the UK, has actually been bought by a green investment company.
Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for an undisclosed sum.
Argent makes green roadway fuel by recycling wastes and residues such as used cooking oil and tallow from the meat market.
The firm will stay in personal ownership and will continue to run independently.
Its senior management, including chairman Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to stay with the company.
Souter Investments, the firm of transport magnate Sir Brian Souter, confirmed it had sold its 37% stake in Argent.
'Future potential'
Mr Walker said the financial investment by John Swire underlined Argent's strong market position, including there was now a chance "to take Argent's abilities more afield".
Barnaby Swire, of John Swire, stated his business was committed to "checking out and buying innovative and viable green markets".
He added: "We are delighted to be acquiring Argent Energy, a company which our company believe can grow and prosper not just within the UK however also overseas, in specific 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 look forward to dealing with them to maximise Argent Energy's future potential."
Argent was established in 2001. In 2009 it was purchased by a consortium which included senior management in addition to 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
Retha Mazure edited this page 2025-01-11 20:43:33 -05:00