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Pioneering biodiesel producer Argent Energy sold


23 July 2013


Argent Energy, a leader of massive commercial production of biodiesel in the UK, has been purchased by a green investment business.


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 meat industry.


The company will remain in personal ownership and will continue to run independently.


Its senior management, consisting of chairman Andy Hunter, managing director Jim Walker and monetary director Jim Boyd are to stay with the business.


Souter Investments, the personal investment firm of transportation magnate Sir Brian Souter, verified it had actually sold its 37% stake in Argent.


'Future potential'


Mr Walker stated the investment by John Swire underlined Argent's strong market position, including there was now an opportunity "to take Argent's skills additional afield".


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


He added: "We are delighted to be getting Argent Energy, a business which we believe can grow and succeed not only within the UK however likewise overseas, in particular in Asian markets with which Swire Group companies are familiar.


"John Swire & Sons Ltd sees in Argent Energy's workers a mix of qualities and worths that work with our own, and eagerly anticipate working with them to increase Argent Energy's future potential."


Argent was established in 2001. In 2009 it was purchased by a consortium that included senior management in addition to Souter Investments.


Its plant at Newarthill, near Motherwell, has the capacity to produce up to 50 million litres of biodiesel a year.


Cooking oil to run buses in trial


4 November 2011


Argent Energy


Souter Investments