BATON ROUGE, La.--(BUSINESS WIRE)--Sept. 13, 2004--The Shaw Group
Inc. (NYSE:SGR) today announced that its subsidiary, Shaw
Environmental, Inc. (Shaw E & I) has been awarded a fixed-unit-price,
indefinite delivery/indefinite quantity contract by the U. S. Army
Corps of Engineers, Mobile District, to provide emergency temporary
roof repairs to homes and buildings damaged by Hurricane Frances. Shaw
personnel will be mobilized to work primarily in central Florida,
where approximately 2,000 roofs per day are anticipated to be
repaired. The contract provides for up to $250 million in services to
be performed over the next several months. Funding for the project
will be provided by the Federal Emergency Management Administration
(FEMA).
Diana Severs Ferguson, President of Shaw Environmental and
Infrastructure, Inc., said, "We are pleased to provide Shaw's
emergency rapid response capabilities and expertise to support the
areas hardest hit by Hurricane Frances. Getting roof protection on
residences and businesses in a timely manner is a critical first step
in creating some semblance of normalcy for the people of Florida and
minimizing any additional weather damage. Shaw's unique ability to
mobilize quickly is crucial to getting these citizens back in their
homes and businesses very soon."
Today's announcement is in addition to work Shaw announced earlier
this week, that it is providing power restoration services to the
central and east coast regions of Florida in the aftermath of
Hurricane Frances. Shaw Energy Delivery Services, Inc. is providing
210 linemen, 160 trucks and other equipment to support Florida Power &
Light (NYSE:FPL), Progress Energy (TSX:PGX.UN) and Sumter Electric
Cooperative, Inc. (SECO) in re-establishing utility services for those
affected by the storm. This is the second time in less than a month
that Shaw has provided emergency power restoration services in
Florida. Shaw EDS had approximately 50 people still working in the
Port Charlotte area, following Hurricane Charley.
Shaw E&I; is a premier provider of environmental and infrastructure
project services to government and commercial customers, including
engineering consulting, facilities design/construction, site
remediation/restoration, waste management, facilities management and
privatization, homeland security and emergency preparedness, and real
estate redevelopment.
Shaw EDS provides innovative design, installation, upgrade and
maintenance power transmission and distribution systems and services
that improve reliability and operational efficiencies.
The Shaw Group Inc. is a leading global provider of technology,
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 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, 225-932-2546
SOURCE: The Shaw Group Inc.
