BATON ROUGE, La., Oct 22, 2002 (BUSINESS WIRE) -- The Shaw Group Inc.
(NYSE:SGR) ("Shaw" or "the Company") today announced that its subsidiary, Shaw
Infrastructure, Inc., was notified by the U.S. Army Garrison, Alaska that the
Army Administrative Appeal Board had cleared the way to award the contract to
provide facilities maintenance at three sites in Alaska to Shaw. The three sites
include Ft. Richardson located in Anchorage, Alaska; Ft. Wainwright, located in
Fairbanks, Alaska; and an Army recreation center located in Seward, Alaska. The
five year contract exceeds $50 million.
Shaw's scope under the contract includes public works operations and
maintenance. Public works activities include scheduled and unscheduled
maintenance of buildings and structures, roads and grounds, vehicles, some
utility systems, heating and air conditioning systems, and electrical systems,
as well as snow removal operations. Maintenance, maintenance planning and work
control, preventive and predictive maintenance, are also included in the scope
of the services provided. Shaw Infrastructure is the prime contractor. Major
subcontractors include Field Support Services Inc. (FSSI), a subsidiary of
Arctic Slope Regional Corporation and Khotol Services Corporation (KSC), a
subsidiary of Gana-A'Yoo, Limited, both Alaskan Native companies.
"We are very excited to receive this conditional award from the Army and grow
our partnership with Alaskan Native companies. Both corporations bring with them
a solid foundation of sound business ethics, practices and resources that focus
on the Alaska economy and the needs of the Alaskan people. Shaw Infrastructure
will continue to demonstrate its capabilities to enhance the quality of life for
service members by providing top quality facilities operation and maintenance
services with enhanced efficiencies. We are proud to serve the military as it
continues its efforts in fighting the war on terrorism," stated Tim Barfield,
Jr., President of Shaw Environmental & Infrastructure, Inc. "We recognize the
value of the existing government workers and we will actively seek to recruit
and hire the incumbent work force."
The Shaw Group Inc. is the world's only vertically-integrated provider of
comprehensive engineering, procurement, pipe fabrication, construction and
maintenance services to the power, process and environmental & infrastructure
sectors. Shaw is headquartered in Baton Rouge, Louisiana, and currently has
offices and operations in North America, South America, Europe, the Middle East
and Asia-Pacific. Shaw employs more than 20,000 people annually. Additional
information on The Shaw Group is available at www.shawgrp.com.
For additional information, please contact Christine N. Mollere, Vice President
of Corporate Communications, at 225/932-2500.
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 Statement". 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., Baton Rouge
Christine N. Mollere, 225/932-2500
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