Pioneering biodiesel manufacturer Argent Energy sold
23 July 2013
Argent Energy, a leader of massive business production of biodiesel in the UK, has actually been purchased by a firm.
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 individually.
Its senior management, consisting of chairman Andy Hunter, managing director Jim Walker and monetary director Jim Boyd are to stay with the company.
Souter Investments, the private financial investment business of transportation tycoon Sir Brian Souter, confirmed it had actually 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 a chance "to take Argent's abilities more afield".
Barnaby Swire, of John Swire, stated his business was devoted to "checking out and buying ingenious and feasible green industries".
He added: "We are happy to be getting Argent Energy, a company which we think can grow and prosper not just within the UK however likewise overseas, in specific in Asian markets with which Swire Group companies are familiar.
"John Swire & Sons Ltd sees in Argent Energy's employees a mix of attributes and values that work with our own, and look forward to dealing with them to maximise Argent Energy's future capacity."
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 up to 50 million litres of biodiesel a year.
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Pioneering Biodiesel Producer Argent Energy Sold
Kasha Jeffers edited this page 2025-01-18 23:39:05 +08:00