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.
