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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of report (Date of Earliest Event Reported): August 17, 2023

ARGAN, INC.

(Exact Name of Registrant as Specified in its Charter)

 

Delaware

 

001-31756

 

13-1947195

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

One Church Street, Suite 201, Rockville, MD

 

20850

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (301) 315-0027

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company   

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Title of Each Class:

Trading Symbol(s):

Name of Each Exchange on
Which Registered:

Common Stock, $0.15 Par Value

AGX

New York Stock Exchange

Item 8.01. Other Events.

On August 17, 2023, Argan, Inc. (“Argan”) issued a press release announcing that its subsidiary, Atlantic Projects Company, received full notice to proceed on an engineering, procurement and construction services contract with GE Vernova for the Shannonbridge Power Project in County Offaly, Ireland.

A copy of Argan’s Press Release is attached to this report as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d)Exhibits

Exhibit No.

  

Description

99.1

  

Press Release issued by Argan on August 17, 2023

104

Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

ARGAN, INC.

Date: August 23, 2023

 

 

By:

 

/s/ Richard H. Deily

 

 

 

Richard H. Deily

 

 

 

Senior Vice President, Chief Financial Officer, Treasurer and Corporate Secretary

Exhibit 99.1

Graphic

Argan, Inc.’s Atlantic Projects Company Receives Full Notice to Proceed for a 264-MW Power Project in Ireland

August 17, 2023 – ROCKVILLE, MD – Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) announces today that its subsidiary, Atlantic Projects Company (“APC”), received full notice to proceed on an engineering, procurement and construction (“EPC”) services contract with GE Vernova for the Shannonbridge Power Project (the “Shannonbridge Project”) in County Offaly, Ireland.

The Shannonbridge Project, an initiative of EirGrid and the Electricity Supply Board of Ireland (ESB), aims to enhance the region’s power infrastructure and to ensure a reliable electricity supply during critical situations and emergencies. The power plant will feature eight GE LM2500XPRESS units, built with proven LM2500 aeroderivative gas turbine technology. APC and its U.S.-based sister company, Gemma Power Systems (“Gemma”), will work on the project with GE Vernova and will oversee the entire project lifecycle, including design, procurement, construction and commissioning. With their combined expertise in engineering and construction, the APC/Gemma team will work collaboratively with all interested parties to achieve the targeted completion date of early 2024. Work commenced earlier this year under limited notices to proceed.

“We understand the importance to Ireland of having a robust and reliable national power supply, especially during times of high demand,” said Billy Nolan, Managing Director of APC. “With a 50-year global pedigree in providing power generation solutions, our experienced team is dedicated to executing this project with the utmost professionalism while adhering to safety and quality standards. The Shannonbridge Project is expected to serve as a vital resource to ensuring the security of the electricity supply when the country needs it.”

“We are honored to participate in the Shannonbridge Project with APC and GE Vernova,” added Charles Collins, Chief Executive Officer at Gemma. “This project aligns perfectly with our mission to provide cutting-edge solutions that address the world’s most pressing power challenges. We are committed to delivering valuable components of a resilient and sustainable power infrastructure that will benefit the local community and support Ireland’s energy goals.”

APC and Gemma are committed to cooperating with local stakeholders, including government agencies, regulatory bodies, and the community throughout the project. By engaging with local suppliers and contractors, both companies aim to maximize regional employment opportunities and make other positive contributions to the local economy.

Argan and its subsidiaries are proud to contribute to Ireland’s sustainable energy future and look forward to a successful partnership with all stakeholders involved.


About Argan, Inc.

Argan’s primary business is providing a full range of construction and related services to the power industry, including the renewable energy sector. Argan’s service offerings focus on the engineering, procurement and construction of natural gas-fired power plants and renewable energy facilities, along with related commissioning, maintenance, project development and technical consulting services, through its Gemma Power Systems and Atlantic Projects Company operations. Argan also owns The Roberts Company, which is a fully integrated fabrication, construction and industrial plant services company, and SMC Infrastructure Solutions, which provides telecommunications infrastructure services.

Company Contact

David Watson

301.315.0027


v3.23.2
Document and Entity Information
Aug. 17, 2023
Document and Entity Information [Abstract]  
Document Type 8-K
Document Period End Date Aug. 17, 2023
Entity File Number 001-31756
Entity Registrant Name ARGAN, INC.
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 13-1947195
Entity Address, Address Line One One Church Street
Entity Address, Adress Line Two Suite 201
Entity Address, City or Town Rockville
Entity Address, State or Province MD
Entity Address, Postal Zip Code 20850
City Area Code 301
Local Phone Number 315-0027
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.15 Par Value
Trading Symbol AGX
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0000100591
Amendment Flag false

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