Pioneering biodiesel manufacturer Argent Energy offered
23 July 2013
Argent Energy, a pioneer of massive commercial production of in the UK, has been bought by a green investment firm.
Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a concealed sum.
Argent makes green roadway 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 separately.
Its senior management, including chairman Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to stay with the business.
Souter Investments, the personal investment company of transport tycoon Sir Brian Souter, validated it had actually offered its 37% stake in Argent.
‘Future capacity’
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, stated his company was committed to “checking out and investing in innovative and viable green industries”.
He added: “We are happy to be acquiring Argent Energy, a business which our company believe can grow and succeed not just within the UK however likewise overseas, in particular in Asian markets with which Swire Group business recognize.
