Pioneering biodiesel producer Argent Energy offered
23 July 2013
Argent Energy, a pioneer of massive commercial production of biodiesel in the UK, has actually been purchased 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 road fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat market.
The firm will remain in personal ownership and will continue to run separately.
Its senior management, consisting of chairman Andy Hunter, managing Walker and monetary director Jim Boyd are to stay with the business.
Souter Investments, the private financial investment company of transport magnate Sir Brian Souter, verified it had sold its 37% stake in Argent.
'Future capacity'
Mr Walker said the financial investment by John Swire underlined Argent's strong market position, adding there was now an opportunity "to take Argent's abilities more afield".
Barnaby Swire, of John Swire, said his company was dedicated to "exploring and buying innovative and feasible green industries".
He added: "We are pleased to be obtaining Argent Energy, a company which we think can grow and flourish not only within the UK but also overseas, in particular in Asian markets with which Swire Group business recognize.
"John Swire & Sons Ltd sees in Argent Energy's staff members a mix of characteristics and worths that are suitable with our own, and look forward to working with them to maximise Argent Energy's future capacity."
Argent was established in 2001. In 2009 it was purchased by a consortium that included senior management together with 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
Leonora Tejeda edited this page 2025-01-12 06:15:02 +08:00