Argan, Inc.’s Wholly Owned Subsidiary Gemma Power Systems
Announces New President
- Gemma Also Announces New VP of Operations -
January 5, 2009 -- Rockville, MD – Argan, Inc. (NYSE Alternext U.S: AGX) announced today the appointment of Mr. Eric Whitehouse as President of its wholly owned subsidiary Gemma Power Systems effective January 2, 2009.
Mr. Whitehouse has over 25 years experience in the power industry including all types of renewable power such as wind, biomass and solar. Most recently, Mr. Whitehouse was Director of Construction in the business development group at The AES Corporation, one of the world’s largest global power companies. At AES, Mr. Whitehouse planned facility engineering, construction and EPC contracts for liquid natural gas (LNG) terminals, pipelines and power generation facilities. Previously, Mr. Whitehouse served as Vice President of Gemma from 1997 to 2004.
Mr. Whitehouse replaces William F. Griffin as President. Mr. Griffin will remain Chief Executive Officer of Gemma.
Additionally, Gemma recently added Mr. Brad Lukehart as Vice President of Operations. Most recently, Mr. Lukehart was Project Director and Vice President at Shaw Power Group where he oversaw several billion dollar plus projects. Mr. Lukehart also previously worked at Gemma.
Rainer Bosselmann, Chairman and Chief Executive Officer of Argan, stated, “Eric Whitehouse has considerable experience in all aspects of Gemma’s business and he is well-suited to help lead Gemma in 2009 and beyond. With the additional appointment of Brad Lukehart to VP of Operations, we have brought back two veterans who are a perfect fit for our company and we are excited about working with them again.”
About Argan, Inc.
Argan’s 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 and solar. 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 Company’s ability to achieve its business strategy while effectively managing costs and expenses; (2) the Company’s 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 Argan’s 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 Company’s most recent reports on Form 10-K and 10-Q, and other SEC filings.
Company Contact: Investor Relations Contact:
Rainer Bosselmann/Arthur Trudel John Nesbett/Jennifer Belodeau
301.315.0027 Institutional Marketing Services (IMS)
203.972.9200 |
