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Argan, Inc. Signs Letter of Intent to Acquire Unamsco.

Publication: Energy Weekly News
Publication Date: 28-AUG-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Argan, Inc. (NYSE AMEX: AGX) 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...

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