M2 Capital Sdn. Bhd

Overview

  • Founded Date October 25, 2015
  • Sectors Automotive Jobs
  • Posted Jobs 0
  • Viewed 18
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Company Description

Pioneering Biodiesel Producer Argent Energy Sold

Pioneering biodiesel producer 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 company.

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 firm will stay 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 remain with the business.

Souter Investments, the private investment firm of transport tycoon Sir Brian Souter, verified it had offered its 37% stake in Argent.

‘Future potential’

Mr Walker said the by John Swire highlighted Argent’s strong market position, adding there was now an opportunity “to take Argent’s skills additional afield”.

Barnaby Swire, of John Swire, said his business was devoted to “checking out and investing in innovative and viable green industries”.

He added: “We are thrilled to be getting Argent Energy, a company which our company believe can grow and prosper not just within the UK but likewise overseas, in particular in Asian markets with which Swire Group business are familiar.

“John Swire & Sons Ltd sees in Argent Energy’s employees a mix of qualities and worths that are compatible with our own, and eagerly anticipate dealing with them to increase Argent Energy’s future capacity.”

Argent was established in 2001. In 2009 it was bought by a consortium which consisted of 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.

Cooking oil to run buses in trial

4 November 2011

Argent Energy

Souter Investments

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