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Gold/Mining/Energy : AGX Argan Inc. Biodiesel Power Plant Mfgr -- Ignore unavailable to you. Want to Upgrade?

To: Scoobah who wrote (37)	7/28/2008 8:22:32 PM
From: Jack Be Quick	Read Replies (2) \| Respond to of 73

Scoobah - $30 plus sounds good to me, bring it on! I doubled my position today on the news of the new $210 million plant design and construction contract: biz.yahoo.com Press Release Source: Argan, Inc. Argan, Inc.'s Wholly Owned Subsidiary Gemma Power Systems Signs EPC Contract and Receives Limited Notice to Proceed On $210 Million Contract Monday July 28, 1:30 pm ET Company to Build Eight Unit Simple Cycle Peaking Project in Southern California ROCKVILLE, Md.--(BUSINESS WIRE)--Argan, Inc. (AMEX:AGX - News) announced that its wholly owned subsidiary, Gemma Power Systems, has signed an EPC contract and received a limited notice to proceed from CPV Sentinel for an approximately $210 million contract to design and build eight simple cycle peaking plants in southern California. CPV Sentinel has a power purchase agreement with Southern California Edison. ADVERTISEMENT The project will be completed in two phases. The first phase, which includes the construction of five simple cycle peaking units, is expected to be completed in the summer of 2010. The second phase of the project, comprised of the construction of three units, is expected to finish in April 2011. Rainer Bosselmann, Chairman and Chief Executive Officer of Argan, stated, “Gemma has a great deal of experience in the project management and construction of simple cycle peaking plants and has completed numerous facilities of this type in locations across the country. We look forward to working with CPV Sentinel toward the successful, on-time completion of this project.” 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. Contact: Argan, Inc. Company Contact: Rainer Bosselmann/Arthur Trudel 301-315-0027 or Investor Relations Contact: Institutional Marketing Services (IMS) John Nesbett/Jennifer Belodeau 203-972-9200 -------------------------------------------------------------------------------- Source: Argan, Inc.