BATON ROUGE, La.--(BUSINESS WIRE)--Aug. 25, 2004--
"Our team will lead the effort to reinvigorate the U.S. nuclear
industry which is vital to the energy security of this country,"
said J.M. Bernhard, Jr., Chairman and CEO of Shaw.
The Shaw Group Inc. (NYSE:SGR) announced today that Shaw
Environmental & Infrastructure, Inc. (Shaw E & I) and the University
of Missouri (UM) are jointly seeking the management and operations
contract for the U.S. Department of Energy's (DOE) Idaho National
Laboratory (INL). Shaw E & I is the majority owner of Shaw Missouri
Idaho LLC which was formed with UM to pursue the INL contract.
Shaw Missouri Idaho LLC has assembled an integrated world-class
team of companies and universities with superb credentials in nuclear
technology design, development, and operations, multi-disciplinary
basic and applied R&D;, mission development, and facility and
infrastructure management. Team members include Concurrent
Technologies Corporation (CTC), AECL Technologies, Inc. (Atomic Energy
Canada, Ltd.), American Operations Corporation (AOC), TIAX LLC, and
Iowa State University. The team is further enhanced by the prominent
role that will be played by Idaho State University, the University of
Idaho and Boise State University, each of which has special
competencies and a vital regional presence.
J.M. Bernhard, Jr., Chairman and Chief Executive Officer of The
Shaw Group Inc., who recently testified regarding nuclear energy
before the U.S. Senate Committee on Energy and Natural Resources,
said, "Our team will lead the effort to reinvigorate the U.S. nuclear
industry which is vital to the energy security of this country."
"Our team is focused on making the INL the preeminent,
internationally recognized laboratory for nuclear energy research,
development, engineering, and education," said Dr. Edgar Berkey, the
Shaw Missouri Idaho team's proposed Laboratory Director. "We also
intend to establish the INL as a major center for national security
technology development and demonstration and help it grow in stature
as a multi-program national laboratory with world-class capabilities.
Our plan is to establish programs to attract, motivate, and retain
talented scientists and engineers. Our goal is to foster new academic,
industry, government, and international collaborations to produce the
investment, programs, and expertise to ensure DOE's vision becomes
reality." Dr. Berkey has a Ph.D. in Nuclear Science and Engineering
from Cornell University and has more than 37 years of experience in
multi-program R&D; management, nuclear and energy development, and
entrepreneurial and executive leadership.
The Shaw Missouri Idaho team will draw upon the expertise of
Shaw's Stone & Webster unit, an architect/engineering and construction
organization that is one of the few commercial operations that can
trace their nuclear roots to the first days of the Manhattan Project
in the early 1940s. Shaw's nuclear leadership has been enhanced over
the years by its distinguished record of significant commercial
nuclear plant experience and DOE first-of-a-kind facility design and
construction projects, such as the Mixed-Oxide (MOX) Fuel Fabrication
Facility at DOE's Savannah River Site.
The University of Missouri (UM) provides an exceptionally strong
nuclear engineering educational component as well as a distinguished
R&D; management structure overseeing more than $250 million in research
annually. The National Science Foundation recently ranked the
University of Missouri among the nation's top ten universities for
integrating research and education. According to Dr. Elson Floyd,
President of the University of Missouri, "We are excited about the
opportunity to provide research expertise and supply the future
generation of engineers and scientists needed to assure our nation's
future energy needs are met." UM has two operating nuclear reactors,
one of which is the largest university research reactor in the nation.
The university will help set the standard for isotope research and
production, materials testing, and reactor services internationally.
The Shaw Missouri Idaho team is composed of organizations capable
of leading the INL to world-class status. CTC, a not-for-profit,
applied research, development and technology-transitioning company,
has core competencies in national security, energy, science, and
information technology and operates four national centers of
excellence for the DOD. AECL Technologies, Inc., a wholly owned U.S.
subsidiary of Atomic Energy Canada, Limited, specializes in design and
development of nuclear reactors and operates four major nuclear R&D;
laboratories. AOC is a premier mission development firm. TIAX is a
leader in developing and commercializing a wide range of new
technologies. Iowa State University operates the Ames Laboratory for
the DOE. The UM-led consortium of universities that includes Idaho
State University, the University of Idaho, Boise State University and
others provides access to a national network of nuclear science and
engineering education and related research programs.
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 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 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.