BATON ROUGE, La.--(BUSINESS WIRE)--Sept. 8, 2003--The Shaw Group
Inc. (NYSE:SGR) today announced two executive management appointments
in its Engineering, Construction and Maintenance (ECM) Division.
Michael P. Childers, President of Shaw's Stone & Webster Power
Group, is being promoted to President of Shaw's ECM Division and will
be responsible for overseeing operations for the Company's Power and
Process Engineering, Procurement and Construction (EPC), Construction,
Maintenance, and Consulting and Technologies business units. Mr.
Childers joined The Shaw Group in March of this year from Entergy
Corporation where he served as President of Entergy Asset Management
and Chief Operating Officer of Entergy Wholesale Operations. He has
senior level experience in power development, mergers and
acquisitions, marketing and trading, as well as expertise in managing
long-term structured power and gas transactions.
"Mike has been a strong and energetic leader of our Power Group
and a terrific addition to our management team. He has demonstrated
his proficiency for maximizing operational efficiency and identifying
unique opportunities for enhancing our competitive position in the
markets we serve," stated J.M. Bernhard, Jr., Shaw's Chairman,
President and Chief Executive Officer. "With the help of Mike's
strategic initiatives, we have also made great strides in leveraging
our cross selling abilities and identifying additional project
opportunities with our existing and prospective customers."
Ebrahim (Abe) Fatemizadeh will succeed Mr. Childers as President
of Shaw's Stone & Webster Power Group and will have a specific
objective of creating an integrated power and process EPC business
unit. Prior to joining Shaw, Mr. Fatemizadeh was Vice President of
Fluor Corporation where he was responsible for the management of
global operations for Fluor's Chemical Business Unit. Previously, Mr.
Fatemizadeh was Senior Vice President of Operations and General
Manager for Duke Fluor Daniel in Aliso Viejo, California where he
managed P&L; for the power generation business.
Mr. Fatemizadeh brings nearly thirty years experience in the EPC
business to Shaw. He has been involved in every aspect of the EPC
business including strategic planning, business development, project
controls, project management and global operations. Mr. Fatemizadeh
received a Bachelor of Science and a Master of Science in Industrial
Engineering from the University of Houston.
"Abe is a valuable addition to Shaw's management team, and we are
pleased to have someone of his caliber to lead the integration of our
power and process EPC business," stated Michael P. Childers, President
of The Shaw Group's ECM Division. "His appointment represents our
commitment to recruiting the highest quality industry professionals to
the Company as we focus on leveraging our diverse capabilities and
strengthening our competitive position in the domestic and
international markets."
The Shaw Group Inc. is a leading global provider of engineering,
procurement, construction, maintenance, fabrication, manufacturing,
consulting, remediation, 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.
Note: Photos available at URLs:
http://www.businesswire.com/cgi-bin/photo.cgi?pw.090803/bb9
http://www.businesswire.com/cgi-bin/photo.cgi?pw.090803/bb9a
CONTACT: The Shaw Group Inc., Baton Rouge
Laurie LaChiusa, 225-932-2500
www.shawgrp.com
SOURCE: The Shaw Group Inc.
