PT Sinergi Oleo Nusantara

Overview

  • Founded Date July 27, 1906
  • Sectors Business
  • Posted Jobs 0
  • Viewed 26

Company Description

Pioneering Biodiesel Producer Argent Energy Sold

Pioneering biodiesel producer Argent Energy sold

23 July 2013

Argent Energy, a pioneer of massive commercial production of biodiesel in the UK, has actually been bought by a green investment firm.

Argent, based near Motherwell, was offered 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 used cooking oil and tallow from the meat industry.

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

Its senior management, including chairman Andy Hunter, managing director Jim Walker and monetary director Jim Boyd are to remain with the company.

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

‘Future potential’

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

Barnaby Swire, of John Swire, stated his company was committed to “checking out and buying ingenious and viable green markets”.

He added: “We are happy to be getting Argent Energy, a company which we think can grow and succeed not just within the UK however also overseas, in specific in Asian markets with which Swire Group business recognize.

“John Swire & Sons Ltd sees in Argent Energy’s workers a mix of characteristics and values that are suitable with our own, and look forward to working with them to increase Argent Energy’s future potential.”

Argent was developed in 2001. In 2009 it was bought by a consortium which consisted of senior management in addition to Souter Investments.

Its plant at Newarthill, near Motherwell, has the capability 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