BATON ROUGE, La., May 10, 2005 (BUSINESS WIRE) -- The Shaw Group Inc. (NYSE: SGR) announced today that
Space Coast Launch Services LLC (SCLS), a joint venture between Shaw
and Computer Sciences Corporation (NYSE: CSC), has won a contract to
provide space command logistical support to the U.S. Air Force's 45th
Space Wing for unmanned space vehicle launches. The total value of the
award, which has a five-month base period and 10 one-year options, is
estimated to be approximately $335 million in revenue for the joint
venture, if all options are exercised. Under the CSC-led joint
venture, the SCLS team will provide operations, maintenance and
engineering support to critical launch, spacecraft and ordnance
facilities and support systems. Shaw owns 35% of the SCLS joint
venture; CSC owns the remaining 65%.
J. M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw,
said, "Shaw is pleased to be a significant part of this joint venture
which has been selected as the primary provider of technical support
services to the Air Force's 45th Space Wing. We are especially pleased
to be partnered with Computer Sciences Corporation on this very
important project for the Air Force."
Approximately 400 managerial, administrative and technical
personnel from SCLS will perform the work at Cape Canaveral in Cocoa
Beach, Fla. Teaming with SCLS are Execusys, of Melbourne, Fla., which
will provide information technology (IT) support services, and YEI, of
Oviedo, Fla., which will provide logistics and procurement services.
The 45th Space Wing is responsible for providing the activities
and resources for the safety of flight, range instrumentation,
infrastructure and scheduling required to support and ensure space and
ballistic launches and other operations.
Founded in 1959, Computer Sciences Corporation is a leading global
IT services company. CSC's mission is to provide customers in industry
and government with solutions crafted to meet their specific
challenges and enable them to profit from the advanced use of
With approximately 79,000 employees, CSC provides innovative
solutions for customers around the world by applying leading
technologies and CSC's own advanced capabilities. These include
systems design and integration; IT and business process outsourcing;
applications software development; Web and application hosting; and
management consulting. Headquartered in El Segundo, Calif., CSC
reported revenue of $13.9 billion from continuing operations for the
12 months ended Dec. 31, 2004. For more information, visit the
company's Web site at www.csc.com.
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. The Company was recently
named for the second consecutive year to Fortune magazine's annual
list of "America's Most Admired Companies." 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.
Investor Relations and Corporate Communications:
Chris D. Sammons