Pioneering biodiesel manufacturer Argent Energy offered
23 July 2013
Argent Energy, a leader of massive business production of biodiesel in the UK, has actually been purchased by a green investment company.
Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a concealed amount.
Argent makes 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, handling director Jim Walker and monetary director Jim Boyd are to stay with the business.
Souter Investments, the personal financial investment company of transportation magnate Sir Brian Souter, confirmed it had sold its 37% stake in Argent.
'Future potential'
Mr Walker stated the financial investment by John Swire highlighted Argent's strong market position, including there was now an opportunity "to take Argent's abilities more afield".
Barnaby Swire, of John Swire, stated his business was committed to "checking out and purchasing ingenious and feasible green markets".
He included: "We are pleased to be getting Argent Energy, a business which our company believe can grow and prosper not just within the UK but also overseas, in particular 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 worths that work with our own, and look forward to dealing with them to increase Argent Energy's future potential."
Argent was established in 2001. In 2009 it was purchased by a consortium which included senior management together with Souter Investments.
Its plant at Newarthill, near Motherwell, has the capability to produce approximately 50 million litres of biodiesel a year.
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Pioneering Biodiesel Producer Argent Energy Sold
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