Rockville, Md.-based Argan Inc., which builds wind power plants through its subsidiary Gemma Power Systems, 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.
‘Unamsco is an attractive business with solid margins, and we anticipate that its subsidiaries, with their long history in the construction business, will be complementary partners to our Gemma Power Systems subsidiary,’ says Rainer Bosselmann, chairman and CEO of Argan.
The acquisition of Unamsco is subject to completion of due diligence, the negotiation of a definitive purchase agreement and the approval of Argan's board of directors.
SOURCE: Argan Inc.
