THE SHAW GROUP

HomeWho We AreWhat We DoInvestor RelationsCareers

News Release

Printer Friendly VersionView printer-friendly version
<<Back
Shaw Awarded Spent Fuel Storage System Engineering Services Contract by FirstEnergy Corp.

BATON ROUGE, La.--(BUSINESS WIRE)--Sept. 25, 2007--The Shaw Group Inc. (NYSE: SGR) announced today that its Nuclear Division of the Shaw Power Group has been awarded an engineering services contract by FirstEnergy Nuclear Operating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), to expand the used nuclear fuel storage capacity at its Perry Nuclear Power Plant in northeast Ohio. The value of Shaw's contract, which will be included in the company's first quarter fiscal year 2008 backlog, was undisclosed.

Shaw will provide engineering and design services for the fuel transfer system, pool-to-pad haul path design, canister pad design and security system design. Construction of the new spent fuel storage system is scheduled for spring of 2008, and completion is planned for 2010.

"We are pleased to add this important project to our nuclear services portfolio. The contract for the Perry Plant fuel storage expansion reflects our continuous support of and commitment to the nuclear services market," said J.M. Bernhard Jr., chairman, president and chief executive officer of Shaw. "Shaw's Nuclear Division and Maintenance Group provide services to more than 40 percent of the nation's nuclear energy plants. Our success in this market has been built on our commitment to safety, our standardized work practices and our prompt ability to successfully engineer and complete work assignments. We look forward to continuing to identify creative, effective solutions that benefit our clients and the nuclear industry."

FirstEnergy Corp. is a diversified energy company headquartered in Akron, Ohio. Its subsidiaries and affiliates are involved in the generation, transmission and distribution of electricity, as well as energy management and other energy-related services. Its seven electric utility operating companies comprise the nation's fifth largest investor-owned electric system based on serving 4.5 million customers in Ohio, Pennsylvania and New Jersey; and its generation subsidiaries control more than 14,000 megawatts of capacity.

The Shaw Group Inc. is a leading global provider of technology, engineering, procurement, construction, maintenance, fabrication, manufacturing, consulting, remediation and facilities management services for government and private sector clients in the energy, chemical, environmental, infrastructure and emergency response markets. Headquartered in Baton Rouge, La., with nearly $5 billion in annual revenues, Shaw employs approximately 23,000 people at its offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region. For further information, please visit Shaw's Web site at www.shawgrp.com.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. The statements contained herein that are not historical facts (including without limitation statements to the effect that the Company or its management "believes," "expects," "anticipates," "plans" or other similar expressions) and statements related to revenues, earnings, backlog, or other financial information or results are forward-looking statements based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by the Company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions and are subject to change based upon various factors. Should one or more of such risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. A description of some of the risks and uncertainties that could cause actual results to differ materially from such forward-looking statements can be found in the Company's reports and registration statements filed with the Securities and Exchange Commission, including its Form 10-K and Form 10-Q reports, and on the Company's Web site under the heading "Forward-Looking Statements." These documents are also available from the Securities and Exchange Commission or from the Investor Relations department of Shaw. For more information on the company and announcements it makes from time to time on a regional basis, visit our Web site at www.shawgrp.com.

CONTACT: The Shaw Group Inc.
Financial:
Chris Sammons, 225-932-2546
or
Media:
Sean Clancy, 225-987-7129

SOURCE: The Shaw Group Inc.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding SHAW GROUP INC's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.


Additional Information

Calendar of Events

Presentations

Archived News Releases


IR Services

Receive E-mail Alerts

Request Information

Contacts

Job Search Photo