BATON ROUGE, La.--(BUSINESS WIRE)--May 10, 2005--The Shaw Group
Inc. (NYSE:SGR) announced today that its Shaw Stone & Webster unit has
been awarded the front end engineering design for a polyethersulphone
(PES) expansion project for Solvay Advanced Polymers L.L.C.
Polyethersulphone is a high-temperature engineering plastic that is
used in electrical and electronic components, sterilization equipment
and photographic accessories. Shaw's engineering engagement includes
process studies, basic engineering design, cost estimating, modular
construction analysis, and master project scheduling. The amount of
Shaw's front end contract was not disclosed.
The overall project cost is estimated to be over $50 million and
would triple Solvay's existing PES capacity. The planned location of
the new unit has not been disclosed and the facility is expected to be
commissioned in 2006. Shaw's Toronto office is currently executing
several polyethylene, linear alpha olefins and polystyrene projects
for Canadian and international clients.
J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw,
commented, "This is another important engineering award for Shaw and
reflects our Toronto office's expertise in polymer science. This
significant project provides Shaw opportunities to develop additional
markets and applications in this exciting technology driven arena."
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 20,000 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 Shaw'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 web-site 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 web site at www.shawgrp.com.
CONTACT: The Shaw Group Inc., Baton Rouge
Chris D. Sammons, 225-932-2500
SOURCE: The Shaw Group Inc.