BATON ROUGE, La.--(BUSINESS WIRE)--April 28, 2004--The Shaw Group
Inc. (NYSE:SGR) announced today that its subsidiary, Shaw Global
Energy Services, Inc, has been awarded a contract by Occidental
Chemical ("OxyChem") to provide mechanical maintenance services at
eight of OxyChem's Gulf Coast plant sites. Under the terms of the
three year deal, Shaw will initially supply approximately 350 direct
maintenance craft personnel at OxyChem's Deer Park, Texas, Ingleside,
Texas, and Muscle Shoals, Alabama sites, and the five sites that make
up the company's Houston, Texas Chemical Complex.
Prior to this most recent contract award, Shaw supplied specialty
maintenance services in several OxyChem locations. These specialty
services include industrial painting, scaffolding, and insulation.
Shaw will now add mechanical maintenance capabilities to those
services already being provided to OxyChem.
Mike Selcer, Vice President of Shaw's Global Services Division
said, "Shaw has enjoyed a longstanding relationship with OxyChem and
this award illustrates their continued confidence in our value added
maintenance capabilities. The Shaw Group is pleased to expand our
alliance with OxyChem and to provide high-quality mechanical
maintenance services to these strategic locations."
Ron McCall, President of Shaw's Maintenance Division, stated, "The
Shaw Group is focused on maintaining its position as the industry's
preferred source of client specific capacity solutions. The OxyChem
multi-site award, one of the largest process maintenance contracts in
Shaw's history, is exciting because it is an indicator of the
sustained growth we have been experiencing. This rapid expansion is a
result of Shaw's attention to our clients' objectives and our ability
to respond swiftly and effectively to those needs."
The Shaw Group Inc. is a premier, full-service contract
maintenance provider serving the petrochemical, refining, fossil
power, and nuclear power industries. The Company's maintenance group
is currently providing maintenance, turnaround/outage, specialty
services, capital project, reliability, and engineering services for
forty-six (46) major customers on one hundred and thirty-four (134)
sites around the world.
The Shaw Group Inc. is a leading provider of technology,
consulting, engineering, construction, remediation, and facilities
management services to government and private sector clients in the
environmental, infrastructure, and emergency response markets. Shaw is
also a vertically integrated provider of comprehensive engineering,
consulting, procurement, pipe fabrication, construction, and
maintenance services to the power and process industries worldwide.
The Company is headquartered in Baton Rouge, Louisiana, and employs
approximately 15,000 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 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 website 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
website at www.shawgrp.com.
CONTACT: The Shaw Group Inc., Baton Rouge
Robert L. Belk, 225-932-2500
SOURCE: The Shaw Group Inc.
