BATON ROUGE, La.--(BUSINESS WIRE)--Aug. 24, 2004--
$300 Million Contract to be Split Among Five Contractors
The Shaw Group Inc. (NYSE:SGR) today announced that its
subsidiary, Shaw Environmental, Inc., was one of five contractors
selected by the U.S. Army Corps of Engineers (USACE), Louisville
District, for an indefinite delivery, indefinite quantity contract to
provide a broad spectrum of environmental services for projects within
or assigned to the Corps' Louisville District and all USACE Mission
Boundaries. The three-year Multiple Award Remediation Contract has a
potential seven-year extension and an overall program ceiling of $300
million to be split among the five contractors.
The work to be performed 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, fixed price or fixed price with cost containment
insurance 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 sites, or (4) other
sites where the Corps is authorized to respond. The sites may be
contaminated with hazardous, toxic and radiological wastes, ordnance
and explosives, and recovered chemical warfare materiel. The contract
provides nationwide coverage with the majority of work expected to be
performed in Illinois, Indiana, Kentucky, Michigan and Ohio.
Diana Severs Ferguson, President of Shaw Environmental and
Infrastructure, Inc., said, "Shaw continues to maintain its strong
position in the federal environmental services marketplace and we are
pleased to receive this latest award from the Corps of Engineers. Shaw
has been providing environmental architectural and engineering support
and remediation services to the Louisville District since 1994. The
scope of this contract will allow us to demonstrate an expanded range
of Shaw's capabilities to this valued client."
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.
CONTACT: The Shaw Group Inc., Baton Rouge
Chris D. Sammons, 225-932-2500
SOURCE: The Shaw Group Inc.
