BATON ROUGE, La.–(BUSINESS WIRE)–Dec. 22, 2005–The Shaw Group
Inc. (NYSE: SGR) today announced that its Shaw Stone & Webster unit
has been authorized by PPL Generation LLC, a subsidiary of PPL
Corporation (NYSE: PPL), to begin engineering, procurement and
construction (EPC) to retrofit pollution controls PPL’s Brunner Island
facility. In July 2005, Shaw announced that it had received an
engineering, procurement and construction contract by PPL to retrofit
three of PPL’s units, two at the Montour Facility and one at Brunner
Island. The scope under this contract has been increased and Shaw
Stone & Webster will now install two flue gas desulphurization (FGD)
units “scrubbers” to serve the three generating units at PPL’s Brunner
Island location. The scrubbers at the Brunner Island facility are
scheduled to be installed by 2009. The value of the contract was not
disclosed.
J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw,
said, “We are pleased that PPL has chosen to expand the scope of this
project. We look forward to continuing our efforts to assist PPL in
achieving its strategic goals of clean, efficient and economical
electricity generation. This new award, and the recently announced
Dominion award, are the result of our continued focus on providing
comprehensive air emissions solutions for our clients. Shaw continues
to build its leadership position in the growing scrubber market.”
PPL Corporation, headquartered in Allentown, Pennsylvania,
controls about 12,000 megawatts of generating capacity in the United
States, sells energy in key U.S. markets and delivers electricity to
nearly 5 million customers in Pennsylvania, the United Kingdom and
Latin America. More information on PPL Corporation is available at
www.pplweb.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 energy,
chemical, environmental, infrastructure and emergency response
markets. Headquartered in Baton Rouge, Louisiana, with over $3 billion
in annual revenues, Shaw 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 to Fortune magazine’s annual list of “America’s Most Admired
Companies” for the second consecutive year. For further information,
please visit 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.
Chris D. Sammons, 225-932-2546
www.shawgrp.com
SOURCE: The Shaw Group Inc.