ARGAN,INC. (NYSE:AGX) Files An 8-K Other Events

ME Staff 8-k
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ARGAN,INC. (NYSE:AGX) Files An 8-K Other Events
Item 8.01. Other Events.

On June26, 2018, Gemma Power Systems, LLC (“GPS”), a wholly-owned subsidiary of Argan,Inc. (“Argan” or the “Company”), issued a press release announcing it has entered into an Engineering, Procurement and Construction services contract to construct the Chickahominy Power Station (the “EPC Contract”), a 1,600 MW state-of-the-art natural gas-fired power plant, in Charles City County, Virginia. The facility is being developed by Balico, LLC, the parent company of Chickahominy Power, LLC, the project owner.

A copy of GPS’s press release is attached to this report as Exhibit99.1 and incorporated herein by reference.

In addition, Argan hereby clarifies that it does not intend to place the value of the EPC Contract into project backlog until the Chickahominy Power Station project gets closer to its start date. The EPC Contract relates to the power plant, identified in the Company’s Annual Report on Form10-K for the year ended January31, 2018 (the “2018 Annual Report”) with a power generation capacity planned at the time of 1,650 MW, that is currently being developed with certain financial and engineering support provided by the Company. The value of the EPC Contract is one of several other projects, for which GPS has been selected by project owners to negotiate an EPC services contract, with an aggregate potential project value in excess of $1.5 billion that is also disclosed in the 2018 Annual Report.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

ExhibitNo.

Description

99.1

Press Release issued by Gemma Power Systems, LLC on June26, 2018.

EXHIBITINDEX


ARGAN INC Exhibit
EX-99.1 2 a18-16159_1ex99d1.htm EX-99.1 Exhibit 99.1       Gemma Power Systems,…
To view the full exhibit click here

About ARGAN,INC. (NYSE:AGX)

Argan, Inc. is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc. (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets. Through SMC, the telecommunications infrastructure services segment of the Company provides project management, construction, installation and maintenance services to commercial, local government and federal government customers. Through Roberts, the Company’s industrial fabrication and field services segment produces, delivers and installs fabricated steel components specializing in pressure vessels and heat exchangers for industrial plants.