BATON ROUGE, La.--(BUSINESS WIRE)--July 12, 2004--The Shaw Group
Inc. (NYSE: SGR) today announced that its subsidiary, Shaw
Constructors, Inc., was awarded an engineering, procurement and
construction (EPC) services contract by Marathon Ashland Petroleum LLC
(MAP) for MAP's Louisiana Refining Division. Under the contract, Shaw
will provide EPC services for a distillate hydrotreater unit at MAP's
Garyville, Louisiana refinery. The distillate hydrotreater unit, which
is the second phase of MAP's clean fuels project at the Garyville
refinery, will produce 46,000 barrels per day of ultra low sulfur
diesel in compliance with the Clean Air Act regulations recently
mandated by the U.S. Environmental Protection Agency (EPA).
Shaw was previously awarded the first phase of MAP's clean fuels
project for the same facility in September 2003, which included EPC
services for a gasoline desulfurization unit and a coker naphtha
splitter unit. Phase I construction is underway.
Michael P. Childers, President of Shaw's Engineering, Construction
and Maintenance division, stated, "We are pleased to have expanded our
involvement in this important project for Marathon Ashland. This
project is a significant step in helping our clients around the world
meet new clean fuels regulations. Our international and domestic clean
fuels experience as well as our extensive refinery expertise position
Shaw well to secure additional projects of this magnitude and to
further expand our portfolio of clean fuels solutions around the
globe."
Based in Findlay, Ohio, MAP is the nation's fifth largest oil
refiner with 935,000 barrels-per-day capacity in its seven-refinery
system. MAP is a limited liability company owned 62 percent by
Marathon Oil Corporation (NYSE:MRO) and 38 percent by Ashland Inc.
(NYSE:ASH).
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 emergency response markets. A
Fortune 500 company, The Shaw Group 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 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 web site at www.shawgrp.com..
CONTACT: The Shaw Group Inc.
Chris D. Sammons, 225-932-2500
SOURCE: The Shaw Group Inc.
