History
In 1987, Jim Bernhard started a pipe fabrication company with two colleagues. Their mission was to provide quality products and services while creating a dynamic and challenging work environment for their employees.
Twenty years and 26,000 employees later, The Shaw Group Inc. is now established in more than 150 locations around the globe and is the world's leading solutions based company that develops, designs, builds, maintains, and operates programs and facilities for our clients.
Through a bold and agile management strategy, Shaw has become one of the world's only vertically-integrated providers of comprehensive engineering, procurement, construction, technology, maintenance, fabrication, manufacturing, consulting, remediation, and facilities management services for government and private sector clients in the power, energy, chemical, environmental, infrastructure, emergency response, homeland security and nuclear services markets.
Take a look at the history of Shaw. It's a legacy of opportunities anticipated and seized.
1987
The company is originally formed in 1987 under the name Shaw Industries, Inc. (Shaw Industries). Shortly thereafter it acquires certain assets of B.F. Shaw, Inc., a Laurens, South Carolina company.
1993
Shaw Industries and Abdulla Ahmed Nass (a Bahrainian entity) form Shaw Nass Middle East, W.L.L. to operate a 60,000-square-foot fabrication facility located in Bahrain to service the Middle East.
Shaw Industries, through a wholly-owned subsidiary, and Formiconi C.A. form Shaw-Formiconi, C.A. (now known as Manufacturas Shaw South America, C.A.) to operate a 50,000-square-foot fabrication facility located in Maracaibo, Venezuela, to service South and Latin America.
Shaw Industries acquires Shaw Sunland Fabricators, Inc., a Louisiana pipe fabrication company, with a capability of 4,000 to 6,000 spools per month. This acquisition brings Shaw Industries employment to approximately 1,900 employees.
Shaw Industries changes its name to The Shaw Group Inc. (Shaw), and conducts an initial public stock offering of 3,125,000 shares at $14.50 per share. The common stock is first listed on the NASDAQ National Market.
Jim Bernhard, then President and CEO, is elected Chairman of the Board of Directors.
1994
Shaw acquires Fronek Company, Inc. and F.C.I. Pipe Support Sales, Inc.
1996
Shaw acquires Word Industries Fabricators, Inc.
1996
Shaw acquires stock of Alloy Piping Products, Inc., a Louisiana manufacturer of carbon steel, alloy, and stainless steel pipe fittings and other pipe products.
Shaw acquires the snubber and hydraulic restraints manufacturing business from Fronek A/DE, Inc.
Shaw acquires Naptech, Inc., a fabricator of industrial piping systems and engineered piping modules.
Shaw acquires stock of Pipe Shields, Inc., a California manufacturer of pre-insulated pipe hanger supports.
Shaw raises approximately $50,358,000 in common stock offering of 2,398,000 shares at $21.00 per share.
1997
Shaw acquires two industrial constructors and project maintenance businesses, United Crafts, Inc. (UCI) and Merit Industrial Constructors, Inc.
Shaw acquires Cojafex B.V. of Rotterdam, Holland.
Shaw acquires Prospect Industries plc, which consists of Aiton Power Corporation (U.K. and Australia), Dunn Constructors, and C.B.P. Engineering Corp. Shaw added the previously acquired contractor PED to this group to form Shaw UK.
Shaw acquires Lancas, C.A. (Lancas), a construction company in Punto Fijo, Venezuela.
2000
Shaw joins with Entergy Corporation to create EntergyShaw L.L.C., a new equally owned and jointly managed company to construct power plants in North America and Europe for Entergy's unregulated wholesale operations.
Shaw acquires substantially all of the assets and certain liabilities of Stone & Webster Incorporated, a 110-year-old engineering and construction company, bringing the total number of employees to over 12,000.
Shaw raises approximately $153,585,482 in common stock offering of 2,418,669 shares at $63.50 per share.
Shaw's Board of Directors authorizes a two-for-one stock split of common stock.
2001
Shaw breaks ground on a new 350,000-square-foot worldwide headquarters in Baton Rouge, Louisiana.
Jim Bernhard, Shaw's Chairman, President and CEO, is recognized by Ernst & Young as Manufacturing Entrepreneur of the Year.
2002
Shaw acquires substantially all of the assets and certain liabilities of The IT Group, Inc., bringing Shaw's total number of employees to 18,000.
Shaw opens a new pipe fabrication facility in China.
2003
Shaw acquires stock of Envirogen, Inc. and its wholly-owned subsidiary, MWR, Inc.
Shaw debuts on Fortune magazine's "Fortune 500 List" at #479 with $3.2 billion in revenue for 2002.
Shaw acquires assets of of Badger/P&C business from Washington Group International, Inc.
Shaw acquires stock of Energy Delivery Services from Duke Energy Global Markets, Inc.
Shaw raises approximately $230 million in common stock offering of 23 million shares at $10.00 per share.
2004
Shaw is named to Fortune magazine's "Fortune 500 List" list for the second consecutive year and also debuted on the magazine's list of "America's Most Admired Companies".
Shaw reports second highest backlog in its history with $6.0 billion as of May 31, 2004.
Shaw raises approximately $28,973,100 in common stock offering of 2,346,000 shares at $12.35 per share.
2005
Shaw is named as one of "America's Most Admired Companies" by Fortune magazine for the second consecutive year.
Shaw joins Westinghouse in the AP1000 Consortium as Architect Engineer.
Hurricane Katrina strikes the Gulf Coast region just two short days before the end of the company's fiscal year. A leader in emergency hurricane response work, Shaw is called upon to provide a broad range of services including power restoration, emergency provisions, housing, and temporary roof repairs.
Shaw and its Louisiana-based subcontractors, pump the floodwaters from New Orleans in 17 days. The experts predicted it would take three months.
Shaw reports record backlog of $6.7 billion for fiscal 2005 and marked six consecutive quarters of positive earnings and cash flow performance at fiscal year-end.
Shaw raises approximately $273 million in common stock offering of 12.85 million shares at $19.50 per share.
2006
Shaw increases its credit facility to $750 million.
Shaw and its employees announce a total cash contribution of $1 million to hurricane relief and recovery efforts.
Shaw acquires maritime engineering and design firm Gottlieb, Barnett & Bridges (GBB).
Shaw reports record revenues of $4.8 billion and record backlog of $9.1 billion for fiscal 2006 and ends the fiscal year with over 22,000 employees.
Shaw acquires a 20% ownership position in Westinghouse Electric Company, the world's premier provider of power generating technology, equipment, licensing expertise, fuel and services for nuclear plants.
The People's Republic of China's State Nuclear Power Technology Company (SNPTC) selects the Westinghouse/Shaw Consortium and Westinghouse's AP1000 passive Generation III technology as the basis for four new nuclear power plants to be constructed in China.
2007
Shaw booked nearly $11 billion in new awards during fiscal year 2007 and its backlog of unfilled orders at August 31, 2007, rose to a record $14.3 billion. Year-end revenues were $5.7 billion.
Shaw is named "Contractor of the Year" by Associated Builders and Contractors Association.
Shaw names Charlotte, N.C., as headquarters for its Power Group.
Shaw is awarded contracts for four major clean coal electric generating facilities for clients AEP, Dominion, Duke and Entergy.
Westinghouse and Shaw sign historic definitive contracts to provide four AP1000 nuclear power plants in China.
Shaw is awarded a maintenance and modifications services contract for Exelon Generation Company, LLC's fleet of 17 nuclear stations, the largest nuclear fleet in the U.S.
Shaw increases its pipe fabrication and manufacturing volume capacity with the acquisitions of Mid States Pipe Fabrication, Inc. and Ezeflow (NJ) Inc. (TUBE-LINE), the re-opening of its Tulsa, Okla., pipe fabrication facility, the expansion of its Sunland facility and the development of a new fabrication facility in Mexico.
Shaw is awarded a contract to provide technology, design, engineering, procurement and construction for ExxonMobil Chemical's 1,000,000 tons-per-year olefins recovery facility and 220-megawatt power cogeneration unit in Singapore.
Shaw Capital, Inc. is formed to identify, develop and execute proposed investments, including acquisitions of operating assets, expansions and retrofitting of existing facilities, new constructions and project development.
Shaw completes the Comprehensive Master Plan for Coastal Restoration and Hurricane Protection for the State of Louisiana Department of Natural Resources and is chosen by the South Florida Water Management District to provide comprehensive engineering services as part of the continued efforts to restore the Everglades.
Shaw is awarded a contract to perform engineering, procurement and construction management services for a 2,000 metric ton-per-year polysilicon manufacturing plant.