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<br> manufacturer Argent Energy sold<br> |
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<br>23 July 2013<br> |
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<br>Argent Energy, a leader of massive industrial [production](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) of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in the UK, has been purchased by a [green investment](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) firm.<br> |
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<br>Argent, based near Motherwell, was sold to a [subsidiary](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) of [London-based John](https://stocktwits.com/symbol/MNEL) Swire & Sons for an [undisclosed](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) amount.<br> |
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<br>Argent makes [green road](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) fuel by [recycling wastes](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and residues such as utilized cooking oil and tallow from the [meat market](https://stocktwits.com/symbol/MNEL).<br> |
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<br>The company will remain in [personal ownership](https://stocktwits.com/symbol/MNEL) and will continue to run independently.<br> |
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<br>Its senior management, [including chairman](https://pitchbook.com/profiles/company/51278-86) Andy Hunter, handling director Jim Walker and financial director Jim Boyd are to stay with the business.<br> |
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<br>Souter Investments, the [personal investment](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) firm of transport tycoon Sir Brian Souter, [verified](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) it had actually sold its 37% stake in Argent.<br> |
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<br>['Future](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) potential'<br> |
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<br>Mr Walker said the investment by John Swire underlined Argent's strong market position, including there was now an opportunity "to take Argent's abilities more afield".<br> |
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<br>[Barnaby](https://www.pinterest.com.au/missionnewenergy/) Swire, of John Swire, stated his [company](https://stocktwits.com/symbol/MNEL) was committed to "exploring and buying ingenious and feasible green markets".<br> |
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<br>He included: "We are delighted to be acquiring Argent Energy, a business which our company believe can grow and flourish not only within the UK but also overseas, in specific in Asian markets with which Swire Group companies are familiar.<br> |
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<br>"[John Swire](https://www.google.com/search?kgmid=/m/0cqd_rb) & Sons Ltd sees in Argent Energy's [employees](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) a mix of [qualities](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) and worths that are suitable with our own, and anticipate working with them to maximise Argent Energy's future [capacity](https://stocktwits.com/symbol/MNEL)."<br> |
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<br>Argent was developed in 2001. In 2009 it was purchased by a consortium that included senior management in addition to Souter Investments.<br> |
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<br>Its plant at Newarthill, near Motherwell, has the capacity to produce up to 50 million litres of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) a year.<br> |
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<br>Cooking oil to run buses in trial<br> |
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<br>4 November 2011<br> |
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<br>Argent Energy<br> |
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<br>Souter Investments<br> |
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