Timothy Curran Appointed President and CEO of Gemma Power Systems
Thursday November 1, 11:23 am ET
ROCKVILLE, Md.--(BUSINESS WIRE)--Argan, Inc. (AMEX:AGX - News) today announced the appointment of Timothy F. Curran as President and Chief Executive Officer of its wholly owned subsidiary Gemma Power Systems.
Mr. Curran joins the current management team of Joel Canino and Bill Griffin, Gemma’s founders and principals. He will be responsible for the day to day operations of Gemma, including execution of the Company’s business strategy and management of the existing backlog of energy plant projects. Messrs. Canino and Griffin will continue as Directors of Gemma Power Systems and as senior level executives.
Prior to this appointment, Mr. Curran served as President & CEO of ALSTOM, Inc. overseeing the company’s U.S. subsidiaries. Before that, he held senior management positions of increasing responsibility at ABB ALSTOM Power, formerly known as ABB Combustion Engineering.
Rainer Bosselmann, Chairman and Chief Executive Officer of Argan stated, “We are very pleased to welcome Tim to the Gemma management team. He is an industry veteran, with thirty years’ experience specific to the power generation business.”
“Gemma has experienced tremendous growth and has a very strong backlog. We believe that the addition of Tim in his new role positions the Company well to effectively capitalize on opportunities for future growth.”
About Argan
Argan is a publicly traded holding company focusing on companies that provide products and services to growth industries. Argan’s primary business is designing and building energy plants for the rapidly growing alternative energy sector through its Gemma Power Systems subsidiary. Argan has two other subsidiaries: Southern Maryland Cable, Inc., which provides inside premise wiring services to the federal government including military installations and government office sites requiring high-level security clearance and also provides underground and aerial construction services and splicing to major telecommunications and utilities customers; and Vitarich Laboratories, a farm to market, vertically integrated private label manufacturer that manufactures, packages and distributes premium nutraceutical products, including nutritional and whole food dietary supplements and other personal healthcare products.
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Argan’s financial and operational results reflected above should not be construed by any means as representative of the current or future value of its common stock. All information set forth in this news release, except historical and factual information, represents forward-looking statements. This includes all statements about the Company's plans, beliefs, estimates and expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include issues related to: rapidly changing technology and evolving standards in the industries in which the Company and its subsidiaries operate; the ability to obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new business, license and sign new agreements; the unpredictable nature of consumer preferences; and other factors set forth in the Company's most recently filed annual report and registration statement. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risks and uncertainties described in other documents that the Company files from time to time with the Securities and Exchange Commission.
Contact:
Argan, Inc.
Rainer Bosselmann/Arthur Trudel
301-315-0027
or
Investor Relations Contact:
Institutional Marketing Services (IMS)
John Nesbett/Jennifer Belodeau
203-972-9200
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Source: Argan, Inc. |
