commit
577c6a8345
@ -0,0 +1,19 @@
|
||||
<br>Pioneering [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) [manufacturer Argent](https://pitchbook.com/profiles/company/51278-86) Energy sold<br>
|
||||
<br>23 July 2013<br>
|
||||
<br>Argent Energy, a leader of massive commercial production of [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) in the UK, has actually been purchased by a [green investment](https://www.bloomberg.com/profile/company/MNELF:US) firm.<br>
|
||||
<br>Argent, based near Motherwell, was sold to a subsidiary of London-based John Swire & Sons for a concealed amount.<br>
|
||||
<br>Argent makes green roadway fuel by recycling wastes and residues such as used [cooking oil](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) and tallow from the meat industry.<br>
|
||||
<br>The company will remain in private ownership and will [continue](https://forest500.org/rankings/companies/mission-newenergy-limited) to run [independently](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/).<br>
|
||||
<br>Its senior management, including chairman Andy Hunter, managing director Jim Walker and monetary [director Jim](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Boyd are to stay with the business.<br>
|
||||
<br>Souter Investments, the personal investment company of [transportation magnate](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [Sir Brian](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Souter, [confirmed](https://www.pinterest.com.au/missionnewenergy/) it had actually sold its 37% stake in Argent.<br>
|
||||
<br>'Future capacity'<br>
|
||||
<br>Mr Walker said the investment by John Swire [highlighted Argent's](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) strong market position, [including](https://www.google.com/search?kgmid=/m/0cqd_rb) there was now a chance "to take Argent's abilities more afield".<br>
|
||||
<br>[Barnaby](https://stocktwits.com/symbol/MNEL) Swire, of John Swire, said his was committed to "checking out and purchasing ingenious and feasible green industries".<br>
|
||||
<br>He included: "We are thrilled to be obtaining Argent Energy, a company which we think can grow and flourish not only within the UK however also overseas, in particular in Asian markets with which Swire Group companies recognize.<br>
|
||||
<br>"[John Swire](https://pitchbook.com/profiles/company/51278-86) & Sons Ltd sees in Argent Energy's [workers](https://www.google.com/search?kgmid=/m/0cqd_rb) a mix of [attributes](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and worths that are compatible with our own, and eagerly anticipate [dealing](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) with them to maximise Argent [Energy's future](https://www.google.com/search?kgmid=/m/0cqd_rb) [potential](https://pitchbook.com/profiles/company/51278-86)."<br>
|
||||
<br>Argent was established in 2001. In 2009 it was bought by a consortium that included senior management together with Souter Investments.<br>
|
||||
<br>Its plant at Newarthill, near Motherwell, has the capacity to produce as much as 50 million litres of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) a year.<br>
|
||||
<br>Cooking oil to run buses in trial<br>
|
||||
<br>4 November 2011<br>
|
||||
<br>Argent Energy<br>
|
||||
<br>Souter Investments<br>
|
||||
Loading…
Reference in new issue