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Pioneering Biodiesel Producer Argent Energy Sold

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 firm.

Argent, based near Motherwell, was sold 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 .

The firm will stay in personal ownership and will continue to run separately.

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 investment firm of transport magnate Sir Brian Souter, confirmed it had sold its 37% stake in Argent.

‘Future capacity’

Mr Walker said the investment by John Swire highlighted Argent’s strong market position, adding there was now a chance “to take Argent’s skills further afield”.

Barnaby Swire, of John Swire, said his business was committed to “exploring and purchasing ingenious and feasible green markets”.

He included: “We are happy to be acquiring Argent Energy, a business which we think can grow and succeed not only within the UK however likewise overseas, in specific in Asian markets with which Swire Group companies recognize.

“John Swire & Sons Ltd sees in Argent Energy’s employees a mix of characteristics and worths that work with our own, and anticipate working with them to maximise Argent Energy’s future capacity.”

Argent was developed in 2001. In 2009 it was bought by a consortium that 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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