BATON ROUGE, La.--(BUSINESS WIRE)--Jan. 16, 2004--The Shaw Group
Inc. (NYSE:SGR) today announced that its newly formed joint venture,
Shaw CENTCOM Services, LLC (Shaw CS), was awarded a contract by the
U.S. Army Corps of Engineers' Transatlantic Programs Center. Shaw CS,
consisting of Shaw, Al-Khudhairy Group, Kharafi National, and NESMA
will provide the full range of design-build and construction-related
services within the U.S. Central Command (CENTCOM) area of
responsibility (AOR) which includes 25 nations located throughout the
Horn of Africa, South and Central Asia, the Northern Red Sea regions,
the Arabian Peninsula and Iraq.
The indefinite delivery, indefinite quantity contract has a
one-year base with a monetary ceiling of $500 million. The contract
also includes four one-year options with a $250 million ceiling per
year. Task orders under this contract cover a wide range of planning,
engineering, and design in conjunction with construction, repair,
renovation, restoration, and maintenance and operation services. The
contracts will support U.S. military operations, other U.S. government
agencies and friendly foreign governments under established
agreements.
"Shaw has enjoyed a longstanding relationship with the U.S. Army
Corps of Engineers domestically and this contract opens the door for
Shaw to add further value by supporting their strategic international
initiatives," said J.M. Bernhard, Jr., Chairman and Chief Executive
Officer of The Shaw Group. "We are honored to participate in this
important endeavor and we look forward to the opportunity to enhance
the communities located within the established area of
responsibility."
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 14,800 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 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 website at www.shawgrp.com.
CONTACT: The Shaw Group Inc., Baton Rouge
Laurie LaChiusa, 225-932-2500
SOURCE: The Shaw Group, Inc.