The Shaw Group Inc.

The Shaw Group Inc.

January 06, 2005 15:28 ET

Shaw Announces Sale of Shaw Power Technologies Units


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: THE SHAW GROUP INC.

NYSE SYMBOL: SGR

JANUARY 6, 2005 - 15:28 ET

Shaw Announces Sale of Shaw Power Technologies Units

BATON ROUGE, La.--(CCNMatthews - Jan 6, 2005) -

The Shaw Group Inc. (NYSE: SGR) today announced that it has sold
substantially all of the assets of its Shaw Power Technologies, Inc. and
Shaw Power Technologies International, Ltd. units to Siemens Power
Transmission and Distribution Inc., a unit of Siemens AG (NYSE: SI). The
sale was effective as of December 31, 2004.

J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw, said,
"We made a strategic decision earlier this year to divest ourselves of
relatively small, non-core business units so that we may focus on
business activities where we can generate the most value for our
shareholders. This sale is simply the execution of that business
strategy. In this transaction, we realized significant immediate value
for a non-core business unit. We will redeploy this capital into our
core businesses."

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. A
Fortune 500 company with revenues over $3 billion, Shaw 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 website 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 website at www.shawgrp.com.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    The Shaw Group Inc., Baton Rouge
    Chris D. Sammons, 225-932-2546
    http://www.shawgrp.com