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Article Excerpt
- Acquisition Enhances Design & Construction Focus and Broadens Business to Include Clean Air Solutions -
ROCKVILLE, Md. -- Argan, Inc. (NYSE AMEX: AGX) today announced that it has signed a letter of intent to purchase United American Steel Constructors, Inc. (Unamsco), a private company operating two wholly-owned subsidiaries, National Steel Constructors, LLC, and Peterson Beckner Industries. In 2008, Unamsco reported annual revenues of approximately $84 million and EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of approximately $19 million. The proposed purchase price is approximately $50 million, to be structured as a combination of cash and stock.
Rainer Bosselmann, Chairman and...
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