Attached files
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8-K - FORM 8-K - ARGAN INC | c96503e8vk.htm |
Exhibit 99.1
ARGAN, INC. AND UNAMSCO DISCONTINUE MERGER NEGOTIATIONS
February 16, 2010 ROCKVILLE, MD Argan, Inc. (NYSE AMEX: AGX) today announced that Argan and
United American Steel Constructors, Inc. have mutually terminated the non-binding letter of intent
and discontinued merger negotiations announced August 10, 2009.
About Argan, Inc.
Argans primary business is designing and building energy plants through its Gemma Power Systems
subsidiary. These energy plants include traditional gas as well as alternative energy including
biodiesel, ethanol, and renewable energy sources such as wind power. Argan also owns Southern
Maryland Cable, Inc. and Vitarich Laboratories, Inc.
Certain matters discussed in this press release may constitute forward-looking statements within
the meaning of the federal securities laws and are subject to risks and uncertainties including,
but not limited to: (1) the Companys ability to achieve its business strategy while effectively
managing costs and expenses; (2) the Companys ability to successfully and profitably integrate
acquisitions; and (3) the continued strong performance of the energy sector. Actual results and the
timing of certain events could differ materially from those projected in or contemplated by the
forward-looking statements due to a number of factors detailed from time to time in Argans filings
with the Securities and Exchange Commission. In addition, reference is hereby made to cautionary
statements with respect to risk factors set forth in the Companys most recent reports on Form 10-K
and 10-Q, and other SEC filings.
Company Contact:
|
Investor Relations Contact: | |
Rainer Bosselmann/Arthur Trudel 301.315.0027 |
John Nesbett/Jennifer Belodeau Institutional Marketing Services (IMS) 203.972.9200 |