EX-99.1
9
ex99-1.txt
Exhibit 99.1
NEWS - FOR IMMEDIATE RELEASE
DATE: SEPTEMBER 1, 2004
From: Argan, Inc.
Contact: Haywood Miller
Fax: 301-315-0064
Phone: 301-315-0027
ARGAN ANNOUNCES MERGER WITH VITARICH LABORATORIES
ROCKVILLE, MD - Argan, Inc. (OTC BB; BSE: AGAX.OB; AGX) announced today the
closing of its merger with Vitarich Laboratories, Inc. (Vitarich). Vitarich is a
farm-to-market, vertically integrated private label manufacturer that
manufactures, packages and distributes premium nutraceutical products, including
nutritional and whole-food dietary supplements and other personal healthcare
products. The company is headquartered in Naples, FL.
Rainer Bosselmann, Chairman and Chief Executive Officer of Argan, remarked,
"Vitarich is the kind of entrepreneurial company we like to invest in. It
positions us for entry into the nutraceutical industry that is characterized by
rapid growth, fragmentation and opportunities for innovation and consolidation.
We will continue to look for investment opportunities in this industry." In
addition he stated, "Vitarich has a premier management team that has an
excellent industry reputation for the research, development and manufacture of
innovative and premium nutraceutical products in its state-of-the-art
facilities." Vitarich CEO Kevin Thomas says that "the entire Vitarich management
team is energized by the combination with Argan and by what it means for the
future of the company. The entire Vitarich team will continue our commitment to
research, quality products and excellent customer service." Vitarich has
experienced substantial growth over the past few years, growing from $7 million
in revenue in calendar year 2000 to approximately $17 million over the past 12
months. For more information see www.vitarichlabs.com.
Argan, Inc., headquartered in Rockville, MD, is a farm-to-market, vertically
integrated private label manufacturer that manufactures, packages and
distributes premium nutraceutical products, including nutritional and whole-food
dietary supplements and other personal healthcare products. Diversely, Argan has
another wholly owned subsidiary, Southern Maryland Cable, Inc., that provides
inside premise wiring services to the federal government and also provides
underground and aerial construction services and splicing to major
telecommunications and utilities customers.
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Although the Company
believes the assumptions underlying the forward-looking statements contained
herein, including the development plans of the Company, are reasonable, any of
the assumptions could be inaccurate, and therefore, there can be no assurance
that the forward-looking statements contained in the press release will prove to
be accurate. In light of significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such information
should not be regarded as a representation by the Company or any other person
that the objectives and plans of the Company will be achieved.

EX - 99 . 1 9 ex99 - 1 . txt Exhibit 99 . 1 NEWS - FOR IMMEDIATE RELEASE DATE : SEPTEMBER 1 , 2004 From : Argan , Inc . Contact : Haywood Miller Fax : 301 - 315 - 0064 Phone : 301 - 315 - 0027 ARGAN ANNOUNCES MERGER WITH VITARICH LABORATORIES ROCKVILLE , MD - Argan , Inc . ( OTC BB ; BSE : AGAX . OB ; AGX ) announced today the closing of its merger with Vitarich Laboratories , Inc . ( Vitarich ) . Vitarich is a farm - to - market , vertically integrated private label manufacturer that manufactures , packages and distributes premium nutraceutical products , including nutritional and whole - food dietary supplements and other personal healthcare products . The company is headquartered in Naples , FL . Rainer Bosselmann , Chairman and Chief Executive Officer of Argan , remarked , " Vitarich is the kind of entrepreneurial company we like to invest in . It positions us for entry into the nutraceutical industry that is characterized by rapid growth , fragmentation and opportunities for innovation and consolidation . We will continue to look for investment opportunities in this industry . " In addition he stated , " Vitarich has a premier management team that has an excellent industry reputation for the research , development and manufacture of innovative and premium nutraceutical products in its state - of - the - art facilities . " Vitarich CEO Kevin Thomas says that " the entire Vitarich management team is energized by the combination with Argan and by what it means for the future of the company . The entire Vitarich team will continue our commitment to research , quality products and excellent customer service . " Vitarich has experienced substantial growth over the past few years , growing from $ 7 million in revenue in calendar year 2000 to approximately $ 17 million over the past 12 months . For more information see www.vitarichlabs.com . Argan , Inc . , headquartered in Rockville , MD , is a farm - to - market , vertically integrated private label manufacturer that manufactures , packages and distributes premium nutraceutical products , including nutritional and whole - food dietary supplements and other personal healthcare products . Diversely , Argan has another wholly owned subsidiary , Southern Maryland Cable , Inc . , that provides inside premise wiring services to the federal government and also provides underground and aerial construction services and splicing to major telecommunications and utilities customers . This press release contains certain forward - looking statements within the meaning of Section 27A of the Securities Act of 1933 , as amended , and Section 21E of the Securities Exchange Act of 1934 , as amended . Although the Company believes the assumptions underlying the forward - looking statements contained herein , including the development plans of the Company , are reasonable , any of the assumptions could be inaccurate , and therefore , there can be no assurance that the forward - looking statements contained in the press release will prove to be accurate . In light of significant uncertainties inherent in the forward - looking statements included herein , the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved .
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