Pioneering biodiesel manufacturer Argent Energy offered
23 July 2013
Argent Energy, a leader of massive industrial production of in the UK, has actually been purchased by a green investment firm.
Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a concealed amount.
Argent makes green road fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat industry.
The company will remain 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 personal investment business of transport tycoon Sir Brian Souter, verified it had actually offered its 37% stake in Argent.
'Future potential'
Mr Walker said 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, stated his company was dedicated to "exploring and buying ingenious and feasible green industries".
He added: "We are happy to be acquiring Argent Energy, a company which we believe can grow and succeed 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 employees a mix of attributes and worths that are suitable with our own, and eagerly anticipate dealing with them to maximise Argent Energy's future capacity."
Argent was developed 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
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