BATON ROUGE, La.–(BUSINESS WIRE)–Oct. 17, 2007–The Shaw Group
Inc. (NYSE: SGR) announced today that its Environmental &
Infrastructure Group has been awarded a task order on an existing
contract plus a new contract from the U.S. Navy.
The work to be performed under the task order includes repair and
construction projects at Camp Lemonier in Djibouti, Africa. The value
of Shaw’s contract, which has been included in the company’s
previously announced backlog, was not disclosed.
Shaw, as managing partner of Atlantic Contingency Constructors LLC
(ACC), was awarded the first task order contract under the Global
Contingency Construction – Multiple Award Contract (GCC-MAC) by the
Naval Facilities Engineering Command, Atlantic Division. ACC is a
limited liability company formed by Shaw Environmental &
Infrastructure, Inc., AECOM Government Services, Inc., and PAE
Government Services. ACC was awarded the GCC-MAC contract in August of
2006.
Shaw was selected for a new contract award by the Naval Facilities
Engineering Service Center to perform work on underground storage
tanks on the island of Oahu, Hawaii. Shaw will be responsible for the
cleaning, inspection and repair of Red Hill Tank 2 and Red Hill Tank
20. The value of Shaw’s two-year contract, which will be included in
the company’s fiscal year 2008 first quarter backlog, was not
disclosed.
“We are pleased to have been selected for the first task order
contract under the GCC-MAC to provide repair and construction
services,” said J.M. Bernhard Jr., Shaw’s chairman, president and
chief executive officer. “This award further establishes Shaw’s
international footprint and our ability to deliver a wide range of
contingency support for the U.S. Navy.
“We also are pleased to be awarded the tank repair contract by the
Naval Facilities Engineering Service Center,” Bernhard said. “Shaw
continues to build its technical expertise in the fuels market and we
look forward to delivering innovative solutions for our clients
worldwide.”
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 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, La., and employs
approximately 23,000 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 Web site 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.
Financial Contact:
Chris Sammons, 225-932-2546
Media Contact:
Sean Clancy, 225-987-7129