1 changed files with 19 additions and 0 deletions
@ -0,0 +1,19 @@ |
|||||||
|
<br>Pioneering [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) producer Argent Energy offered<br> |
||||||
|
<br>23 July 2013<br> |
||||||
|
<br>Argent Energy, a leader of massive industrial [production](https://www.google.com/search?kgmid=/m/0cqd_rb) of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) in the UK, has been bought by a [green investment](https://stocktwits.com/symbol/MNEL) firm.<br> |
||||||
|
<br>Argent, based near Motherwell, was sold to a [subsidiary](https://pitchbook.com/profiles/company/51278-86) of [London-based John](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Swire & Sons for an undisclosed amount.<br> |
||||||
|
<br>Argent makes green roadway fuel by recycling wastes and residues such as used [cooking oil](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and tallow from the [meat industry](https://www.businessnews.com.au/Company/Mission-NewEnergy).<br> |
||||||
|
<br>The firm will remain in private ownership and will continue to run [independently](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price).<br> |
||||||
|
<br>Its senior management, [including chairman](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Andy Hunter, handling director Jim Walker and [monetary director](https://www.businessnews.com.au/Company/Mission-NewEnergy) [Jim Boyd](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) are to stay with the [company](https://pitchbook.com/profiles/company/51278-86).<br> |
||||||
|
<br>Souter Investments, the private investment firm of Sir Brian Souter, [confirmed](https://www.bloomberg.com/profile/company/MNELF:US) it had [offered](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) its 37% stake in Argent.<br> |
||||||
|
<br>['Future](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) potential'<br> |
||||||
|
<br>Mr Walker said the [investment](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) by John Swire highlighted [Argent's strong](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) market position, including there was now a chance "to take Argent's abilities more afield".<br> |
||||||
|
<br>Barnaby Swire, of John Swire, said his [company](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) was committed to "exploring and purchasing innovative and practical green industries".<br> |
||||||
|
<br>He included: "We are delighted to be acquiring Argent Energy, a company which our company believe can grow and prosper not just within the UK but also overseas, in specific in Asian markets with which Swire Group business recognize.<br> |
||||||
|
<br>"John Swire & Sons Ltd sees in Argent Energy's workers a mix of characteristics and values that work with our own, and eagerly anticipate working with them to increase Argent Energy's future [capacity](https://www.zoominfo.com/c/mission-newenergy/346542889)."<br> |
||||||
|
<br>Argent was established in 2001. In 2009 it was bought by a consortium that included senior management in addition to Souter Investments.<br> |
||||||
|
<br>Its plant at Newarthill, near Motherwell, has the capacity to produce up to 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