BATON ROUGE, La.–(BUSINESS WIRE)–Jan. 4, 2005–The Shaw Group
Inc. (NYSE:SGR) today announced that its subsidiary, Shaw
Environmental, Inc., has completed two task orders from the U.S. Army
Corps of Engineers to provide construction and transportation
emergency response services in the central region of Florida. The task
orders were issued under Shaw’s Rapid-Response contract with the
Corps.
Under the first task order, Shaw provided construction services
for a manufactured home site in Wauchula, Florida. The manufactured
home site was built to provide housing for Floridians displaced from
their homes after Hurricanes Frances and Jeanne. During the first
phase of the project, Shaw built the 28-acre site to accommodate 150
single-wide manufactured home units and installed approximately 75
homes. The remaining units will be installed during the second phase
of the project, pending the Corps’ further task order. Shaw received
the task order in early November and mobilized within two days of
notification. Shaw also received a task order to deliver and install
FEMA-provided modular homes and trailers to a 12-county area
throughout the central region of Florida. In addition, Shaw built
expedited group sites that provided complete utilities for 50
temporary trailer housing units.
J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw
commented, “We are happy to have been selected for this important
rapid response project to provide immediate housing sites for
displaced families in central Florida. Along with the Corps of
Engineers and FEMA, Shaw has been committed to providing emergency
infrastructure and transportation services quickly. We were pleased to
provide these families with a comfortable place to call home for the
recent holiday season.”
The task orders were funded by the Federal Emergency Management
Administration (FEMA), and were issued under Shaw’s previously
announced rapid response/immediate response contract with the U.S.
Army Corps of Engineers. The five-year contract has a potential value
of up to $115 million. In addition to this project, Shaw supported the
Corps’ mission to conduct emergency temporary roof repairs for homes
and buildings in Florida damaged by Hurricanes Frances and Jeanne.
Also funded by FEMA, “Operation Blue Roof” was a fast-track mission to
provide temporary roof repairs to prevent further structural damage
until more permanent repairs can be made. Shaw also provided power
restoration services to the east and central regions of Florida in the
wake of the hurricanes.
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.
The Company is headquartered in Baton Rouge, Louisiana and employs
approximately 17,000 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 the Company’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 Statement”.
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, 225-932-2546
SOURCE: The Shaw Group Inc.