BATON ROUGE, La.--(BUSINESS WIRE)--Nov. 10, 2004--The Shaw Group
Inc. (NYSE:SGR) today announced that its subsidiary, Stone and Webster
Inc., was awarded an engineering, procurement and construction (EPC)
services contract by Catlettsburg Refining LLC, a subsidiary of
Marathon Ashland Petroleum LLC, for a kerosene desulphurization unit.
The contract value was not disclosed.
The kerosene desulphurization unit will produce 25,000 barrels per
day of ultra low sulfur kerosene in compliance with the Clean Air Act
regulations. Engineering and procurement services have already begun
and full mobilization to the field is scheduled for February 2005 with
completion of the project scheduled for the spring of 2006. Shaw has
been providing maintenance, construction and turnaround services to
the Catlettsburg refinery since January 2003.
J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw,
commented, "We continue to focus on developing and strengthening our
relationships with key customers like Marathon Ashland and on
expanding our scope of services to them. Along with maintenance and
construction services at Catlettsburg, we have projects at several
other Marathon Ashland locations, including the diesel and gasoline
clean fuels projects in Garyville, Louisiana and a clean fuels revamp
project in St. Paul, Minnesota. We are committed to providing a single
source for comprehensive, innovative solutions to all of our
Based in Findlay, Ohio, Marathon Ashland Petroleum is the nation's
fifth-largest oil refiner with 935,000 barrels-per-day capacity in its
seven-refinery system. Marathon Ashland 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 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 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.