BATON ROUGE, La.--(BUSINESS WIRE)--Aug. 12, 2003--The Shaw Group
Inc. (NYSE:SGR) today announced that its subsidiary, Stone & Webster,
Inc., will provide its proprietary downstream ethylene technologies to
Formosa Chemicals & Fibre Corporation for a grassroots
ethylbenzene/styrene monomer facility in Haifeng, Taiwan. Stone &
Webster will provide the technology through its recently acquired
Badger Technologies unit which specializes in the development,
licensing, and commercialization of petrochemical and petroleum
refining-related technologies.
Formosa will use the Mobil/Badger EBMax ethylbenzene process
integrated with the Fina/Badger styrene technology. With an initial
capacity of 600,000 metric tons of styrene monomer per year, the
Taiwan facility will be the largest single train styrene plant in the
world. This represents the third Formosa ethylbenzene/styrene monomer
plant to utilize the Badger technologies since 1987.
"We are pleased that Badger's ethylbenzene/styrene monomer
technologies have once again been selected by Formosa and we look
forward to working with our partners to ensure the success of this
significant project," stated Nick Gallinaro, President of Stone &
Webster Process. "This award further illustrates the value of our
proprietary petrochemical technologies in the international
marketplace, which continues to present opportunities for leveraging
our technology portfolio."
The Shaw Group Inc. is a leading global provider of engineering,
consulting, remediation, procurement, construction, maintenance,
fabrication and facilities management services for government and
private sector clients in the power, process, environmental,
infrastructure and homeland defense markets. The Company is
headquartered in Baton Rouge, Louisiana and employs approximately
17,000 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 the Company's website 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 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
Laurie LaChiusa, 225-932-2500
SOURCE: The Shaw Group Inc.
