BATON ROUGE, La., Sep 15, 2003 (BUSINESS WIRE) -- The Shaw Group
Inc. (NYSE: SGR) ("Shaw" or "the Company") today announced that its
subsidiary, Shaw Environmental, Inc., was awarded a contract by the
U.S. Army Corps of Engineers (USACE) to provide Rapid
Response/Immediate Response (RR/IR) environmental remediation and
homeland security/defense services in support of the USACE and its
domestic and international customers. The award is for a base period
of two years with a one-time three-year option period. The five-year
contract has a potential value of up to $115 million.
Shaw will provide a full response service to the USACE and its
federal customers in situations where rapid or immediate response
action is necessary to protect human life, public health, or the
environment. Additionally, Shaw will provide the USACE with time
sensitive support to Homeland Defense/Security initiatives involving
the assessment and/or implementation of preventative measures to
address facility vulnerabilities, or the abatement, minimization,
stabilization, containment, mitigation, and elimination of damages or
materials remaining from an actual attack by a terrorist, terrorist
organization, or hostile country.
"We are gratified by the USACE's continued confidence in Shaw's
ability to provide superior remediation and homeland defense services
on an expedited basis," stated Tim Barfield, President of Shaw
Environmental & Infrastructure, Inc. "This significant project allows
us to demonstrate the intrinsic value of our enhanced capabilities
while supporting the USACE's overall preparedness efforts."
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.
SOURCE: The Shaw Group Inc.
The Shaw Group Inc., Baton Rouge
Laurie LaChiusa, 225-932-2500
www.shawgrp.com
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