producer Argent Energy sold
23 July 2013
Argent Energy, a pioneer of large-scale business production of biodiesel in the UK, has been bought by a green financial investment company.
Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for an undisclosed amount.
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 private 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 personal investment firm of transport magnate Sir Brian Souter, verified it had offered its 37% stake in Argent.
'Future potential'
Mr Walker stated the investment by John Swire highlighted Argent's strong market position, including there was now a chance "to take Argent's abilities additional afield".
Barnaby Swire, of John Swire, said his company was devoted to "exploring and buying ingenious and viable green markets".
He added: "We are pleased to be getting Argent Energy, a company which we think can grow and prosper not just within the UK but also overseas, in specific 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 values that are compatible with our own, and eagerly anticipate working 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 in addition to Souter Investments.
Its plant at Newarthill, near Motherwell, has the capability to produce up to 50 million litres of biodiesel a year.
Cooking oil to run buses in trial
4 November 2011
Argent Energy
Souter Investments
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Pioneering Biodiesel Producer Argent Energy Sold
Barrett McPhillamy edited this page 2025-01-12 12:00:39 +08:00