Pioneering Biodiesel Producer Argent Energy Sold > 자유게시판

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Pioneering biodiesel manufacturer Argent Energy offered

23 July 2013

Argent Energy, a leader of large-scale business production of biodiesel in the UK, has 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 roadway fuel by recycling wastes and residues such as utilized cooking oil and tallow from the meat industry.

The company will remain in private ownership and will continue to run separately.

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 investment company of transport magnate Sir Brian Souter, validated it had offered its 37% stake in Argent.

'Future capacity'

Mr Walker said the investment by John Swire highlighted Argent's strong market position, including there was now a chance "to take Argent's skills further afield".

Barnaby Swire, of John Swire, said his business was devoted to "exploring and investing in innovative and viable green markets".

He included: "We are pleased to be acquiring Argent Energy, a company which we believe can grow and flourish not just within the UK but likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.

"John Swire & Sons Ltd sees in Argent Energy's a mix of qualities and values that work with our own, and look forward to dealing with them to maximise Argent Energy's future potential."

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