Yearly Archives

2020

ARGAN, INC. ANNOUNCES $25 MILLION SHARE REPURCHASE PROGRAM AND DECLARES SPECIAL CASH DIVIDEND OF $1.00 PER SHARE

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June 24, 2020 — ROCKVILLE, MD. — On June 23, 2020, the Board of Directors of Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) authorized the repurchase of up to $25.0 million of the Company’s issued and outstanding common stock. The Board of Directors also declared a special cash dividend of $1.00 per share of common stock in addition to the regular quarterly cash dividend in the amount of $0.25 per share of common stock, for a total declared cash dividend of $1.25 per share of common stock, payable July 31, 2020 to stockholders of record at the close of business on July 23, 2020.

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Argan, Inc.’s Wholly Owned Subsidiary Gemma Power Systems Enters into an EPC Contract for a 650 MW Power Project in Connecticut

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ROCKVILLE, Md. –(BUSINESS WIRE)– Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) announced that recently its wholly owned subsidiary, Gemma Power Systems (”Gemma”), entered into an engineering, procurement and construction (“EPC”) services contract with NTE Connecticut, LLC to construct Killingly Energy Center, a 650 MW natural gas-fired power plant in Killingly, Connecticut. The power train will be provided by Mitsubishi Hitachi Power Systems Americas, Inc. (“MHPS”) which will utilize an M501JAC gas turbine and a TC2F steam turbine in a multi-shaft configuration. The facility is being developed by NTE Energy, LLC (“NTE”).  Construction activities are scheduled to start in 2020.

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Argan, Inc.’s Wholly Owned Subsidiary Gemma Power Systems Enters into an EPC Contract for a 920 MW Power Project in West Virginia

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ROCKVILLE, Md. –(BUSINESS WIRE)– Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) announced today that in late February 2020 its wholly owned subsidiary, Gemma Power Systems (”Gemma”), entered into an engineering, procurement and construction (“EPC”) services contract with ESC Brooke County Power I, LLC to construct Brooke County Power, a 920 MW natural gas-fired power plant, in Brooke County, West Virginia. The facility is being developed by Energy Solutions Consortium, LLC (“ESC”) and construction activities are scheduled to start in 2020 once financial close is achieved.

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Argan, Inc.’s Wholly Owned Subsidiary Gemma Power Systems Enters into EPC Contract for a 1,085 MW Power Project in Ohio

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ROCKVILLE, Md. –(BUSINESS WIRE)– Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) announced today that in late December 2019 its wholly owned subsidiary, Gemma Power Systems (”Gemma”), entered into an engineering, procurement and construction (“EPC”) services contract with Harrison Power, LLC to construct the Harrison Energy Center, a 1,085 MW state-of-the-art natural gas-fired power plant, in Harrison County, Ohio. The facility is being developed by EmberClear, the parent company of Harrison Power, LLC and construction activities are scheduled to start in 2020.

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