Pioneering biodiesel Energy sold
23 July 2013
Argent Energy, a leader of massive business production of biodiesel in the UK, has actually been bought by a green investment business.
Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for an undisclosed amount.
Argent makes green roadway fuel by recycling wastes and residues such as used cooking oil and tallow from the meat market.
The company will remain in personal ownership and will continue to run independently.
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 investment business of transportation magnate Sir Brian Souter, validated it had actually offered 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 further afield".
Barnaby Swire, of John Swire, stated his business was committed to "exploring and investing in ingenious and viable green markets".
He included: "We are delighted to be acquiring Argent Energy, a business which we believe can grow and succeed not only within the UK but also overseas, in particular in Asian markets with which Swire Group companies recognize.
"John Swire & Sons Ltd sees in Argent Energy's workers a mix of attributes and worths that are suitable with our own, and anticipate working with them to maximise Argent Energy's future potential."
Argent was developed in 2001. In 2009 it was purchased by a consortium that 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
helenwvl131835 edited this page 2025-01-12 04:11:50 +08:00