BATON ROUGE, La., Sep 26, 2003 (BUSINESS WIRE) -- The Shaw Group
Inc. (NYSE: SGR) ("Shaw" or "the Company") today announced that
Marathon Ashland Petroleum LLC (MAP) has awarded Shaw a significant
portion of a Clean Fuels project at MAP's Louisiana Refining Division.
This award, which represents the first phase of the project, includes
engineering, procurement and construction (EPC) of a grassroots
Gasoline Desulfurization Unit in Garyville, Louisiana.
The project includes a new Gasoline Desulfurization Unit and a
Coker Naphtha Splitter Unit which will produce 87,000 barrels of
gasoline per day in compliance with the Clean Air Act regulations
recently mandated by the U.S. Environmental Protection Agency (EPA).
Engineering, procurement and project management will be performed by
Shaw's Stone & Webster Process Group based in Houston, Texas. Shaw's
Louisiana-based construction group will manage the construction
services for this project.
"We are excited about the opportunity to work with MAP on a
project of this magnitude and to demonstrate the advantages of Shaw's
vertically integrated EPC capabilities," said Nick Gallinaro,
President of Shaw's Stone & Webster Process Group. "Based on our
previous Clean Fuels experience and the range of services we provide,
we are confident that MAP will witness a virtually seamless execution
of this project," Gallinaro concluded.
Based in Findlay, Ohio, Marathon Ashland Petroleum LLC (MAP) is
the nation's sixth largest refiner with 935,000 barrels-per-day
capacity in its seven-refinery system. MAP is 62 percent owned by
Marathon Oil Corporation (NYSE: MRO) and 38 percent owned 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 homeland defense markets. The
Company 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
For more information, please contact Laurie LaChiusa, Vice
President, Investor Relations and Corporate Communications, The Shaw
Group Inc., at 225.932.2500 or Linda Casey, Public Affairs, Marathon
Ashland Petroleum LLC, at 419.421.3262.
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 Statement".
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.
SOURCE: The Shaw Group Inc.
The Shaw Group Inc.
Laurie LaChiusa, 225-932-2500
Marathon Ashland Petroleum LLC
Linda Casey, 419-421-3262
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