Shaw Announces Investment In Blue Water Technologies, Inc.
Baton Rouge, Louisiana, May 18, 2007 – The Shaw Group Inc. (NYSE:SGR) today announced that it has made an equity investment in Blue Water Technologies, Inc., a privately held company based in Coeur d' Alene, Idaho.
Blue Water's core business is new water treatment technology, the tertiary treatment of industrial and municipal wastewater to reduce phosphorus and other contaminants to extremely low levels. The company utilizes a proprietary process developed at the University of Idaho which is licensed exclusively to Blue Water. Extensive testing through pilot studies and full-scale deployment have consistently yielded 99%+ removal rates and have been accomplished with dramatically lower capital costs than other traditional methods.
Blue Water is an emerging leader in the wastewater treatment sector offering sustainable, environmentally friendly processes. In addition to the equity investment, the two companies agreed to collaborate on future engineering, design and construction projects. Additionally, this alliance between Shaw and Blue Water will offer entire plant retrofits for the municipal and industrial wastewater treatment markets.
"We are not only making an investment in Blue Water, but we also intend to align a variety of other Shaw technologies to create distinct technological and competitive advantages in the marketplace," said Ron Oakley, President of Shaw Environmental & Infrastructure ("Shaw E&I"). "This investment brings in a key piece of the water management platform Shaw E&I is actively developing."
The Shaw Group Inc. is a leading global provider of engineering, procurement, construction, technology, maintenance, fabrication, manufacturing, consulting, remediation, and facilities management services for government and private sector clients in the energy, chemical, environmental, infrastructure, and emergency response markets. A Fortune 500 company with nearly $5 billion in annual revenues, Shaw is headquartered in Baton Rouge, Louisiana and employs approximately 21,000 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 Shaw's website at http://www.shawgrp.com/.
CONTACT: The Shaw Group Inc., Baton Rouge
Chris D. Sammons, 225-932-2546
Vice President, Investor Relations
and Corporate Communications
SOURCE: The Shaw Group Inc.
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 http://www.shawgrp.com/.