Argan buys Gemma Power Systems
October 13, 2006
Argan Inc., a publicly traded holding company, signed a letter of intent to buy Gemma Power Systems, a Connecticut-based construction and engineering company involved in biodiesel, ethanol and other power energy systems. According to Argan, Gemma has projects worth approximately $200 million to be constructed in the next two years. Gemma, which will operate as a wholly owned subsidiary of Argan, is Argan's first venture into the renewable energy industry. Argan Chairman and CEO Rainer Bosselmann said Gemma was chosen for its "state-of-the-art biofuel refining technology."
Advertisement
Advertisement
Upcoming Events
