BATON ROUGE, La., Apr 20, 2005 (BUSINESS WIRE) -- The Shaw Group Inc. (NYSE: SGR) officially celebrated
the expansion of its Charlotte location today with a ribbon cutting
ceremony held at Shaw's office at 128 S. Tryon Street in downtown
Charlotte. The event was attended by Shaw's Chairman and Chief
Executive Officer, J.M. Bernhard, Jr. who greeted government, civic
and business leaders from across North Carolina including Governor
Mike Easley, Mayor Pat McCrory and other state and local officials and
Shaw is expanding its Charlotte office to meet growing energy
industry demands, especially the needs of power generating utilities.
The company is a recognized leader in the energy sector, particularly
in providing flue gas desulphurization (FGD-scrubber) services that
assist utilities in meeting clean air emissions requirements. Shaw is
currently performing FGD engineering and construction services for
Duke Energy, as well as other major utilities. Shaw anticipates there
will be significant additional scrubber work needed by coal-fired
generating plants, as well as possible grassroots coal-fired power
plant projects which could be managed from its expanded Charlotte
Mr. Bernhard commented, "We are very pleased to expand our
Charlotte operations and to further strengthen our commitment to the
State of North Carolina. Charlotte is a tremendous place to do
business and is great strategic fit for our company. Due to the
improving energy market, we expect to double the size of our Charlotte
office employee base to support our current work, as well as emerging
opportunities. Charlotte offers a deep pool of engineering and design
talent and our expansion will mean an additional 200 high-level
employment positions over the next year."
Governor Easley said, "Shaw's decision to expand its presence here
in North Carolina shows that we are making the right investments in
the right places at the right time. Our strong emphasis on education
and workforce development ensures that companies such as Shaw can
continue to grow here and that our state remains highly competitive in
the new global economy."
Shaw currently employs over 1,200 people in the Charlotte area and
will lease nearly 48,000 square feet of office space in their expanded
office space. Shaw expects to hire 200 additional engineers by June
2005. The Charlotte location will primarily house the company's
project controls and design group within its energy division.
The office also serves as headquarters for Shaw Energy Delivery
Services, the company's power transmission and distribution unit which
was acquired from Duke Energy in late 2003 to complement Shaw's
existing portfolio of energy services. The Company also manages a
major design project for the Department of Energy (DOE) through the
Charlotte location. Shaw is doing design work on the Mixed Oxide (MOX)
Fuel Fabrication Facility to be built at the DOE's Savannah River
site. The MOX facility will be used for the conversion of
weapons-grade plutonium to fuel-grade nuclear material to be used in
commercial nuclear power plants. The project is being performed
through a consortium with Duke Project Services and COGEMA Inc.
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.
With over $3 billion in revenues, Shaw is headquartered in Baton
Rouge, Louisiana, and employs approximately 19,500 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.
Forward-Looking Statements - 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.
SOURCE: The Shaw Group, Inc.
The Shaw Group Inc., Baton Rouge
Chris D. Sammons