BATON ROUGE, LA., Jun 14, 2004 (BUSINESS WIRE) -- The Shaw Group
Inc. (NYSE:SGR) today announced that its subsidiary, Shaw
Environmental, Inc., was one of three contractors selected by the U.S.
Army Corps of Engineers (USACE), Tulsa District, for an indefinite
delivery, indefinite quantity (IDIQ) contract to provide environmental
services for projects within or assigned to the Corps' Southwestern
Division. The Comprehensive Environmental Contracts, known as CECs,
will be 5-year, multiple award contracts with an overall program
ceiling of $200 million to be split among the three contractors.
The work to be performed under the CECs may include environmental
investigation, study, pre-design, design, remediation, start-up
activities, environmental compliance, environmental analysis,
environmental services, ecosystem restoration, environmental dredging,
emergency and time-critical response activities. Task orders issued
may be cost reimbursable or fixed price for project sites that are:
(1) currently owned or controlled by the Federal Government, (2)
Formerly-used Defense Sites, (3) Formerly Utilized Sites Remedial
Action Program, or (4) other sites where the Corps is otherwise
authorized to respond.
Diana Severs Ferguson, President of Shaw Environmental, Inc.,
said, "The task orders prescribed under the Comprehensive
Environmental Contracts are important and complex. We are very pleased
to receive this award from the Tulsa District, as it further validates
Shaw's expertise and capabilities in the federal environmental
market."
Ms. Severs Ferguson continued, "Our working relationship with the
U.S. Army Corps of Engineers remains strong, and has included eight
similar comprehensive environmental support contracts since 1993. This
latest project allows us to continue our significant level of support
to the Corps and its customers."
The Shaw Group Inc. is a leading provider of consulting,
engineering, construction, remediation and facilities management
services to government and private sector clients in the
environmental, infrastructure and emergency response markets. The Shaw
Group is also a vertically integrated provider of comprehensive
engineering, consulting, procurement, pipe fabrication, construction
and maintenance services to the power and process industries
worldwide. A Fortune 500 company with $3.3 billion in revenues in
2003, The Shaw Group debuted on the magazine's "America's Most Admired
Companies" list in 2004. Shaw 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. Additional information on The Shaw Group
is available 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 website under the heading "Forward-Looking Statements".
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.
SOURCE: The Shaw Group Inc.
The Shaw Group Inc., Baton Rouge
Chris D. Sammons, 225.932.2500
