The Shaw Group Inc.
NYSE : SGR

The Shaw Group Inc.

September 08, 2005 20:17 ET

Shaw Awarded Contract from U.S. Army Corps of Engineers for Hurricane Katrina Recovery and Rebuilding

BATON ROUGE, La.--(CCNMatthews - Sep 8, 2005) -

Shaw Now Working with the Corps, FEMA, and Other Government Agencies to Rebuild Southern Louisiana and Gulf Coast Communities

The Shaw Group Inc. (NYSE: SGR) today that is has been awarded an Indefinite Delivery/Indefinite Quantity (ID/IQ) contract from the U.S. Army Corps of Engineers to aid in the recovery and rebuilding efforts. Shaw will provide supervision, equipment, materials, labor, logistics, and all means necessary to provide the Corps of Engineers an immediate response for construction contract capability. The contract will provide construction and related services including program planning, scheduling, design, engineering, transportation, construction management, and quality control. Under this contract, Shaw has received its first task of pumping floodwater from the city of New Orleans out and over the levees. Shaw is using temporary pumps and is repairing and restarting the existing pump stations. The $100 million contract has a base period of one-year, with an additional one-year option. Shaw announced earlier today a $100 million ID/IQ contract award by the Federal Emergency Management Agency (FEMA) to provide support services in the aftermath of Hurricane Katrina, including housing assistance for displaced residents.

J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw commented, "This significant contract from the Corps, combined with our award from FEMA, enhances our ability to make an immediate and pronounced impact on the restoration efforts in New Orleans, South Louisiana and the Gulf Coast region. With nearly 5,000 of our own employees living and working here in our home state, we have been personally impacted by this devastating storm. We are committed to this region and we are grateful for the opportunity to play a leadership role in the rebuilding of Louisiana and our sister city, New Orleans."

Shaw is currently performing services under existing contracts with the U.S. Army Corps of Engineers, NASA, the Louisiana National Guard, the U.S. Navy, Jefferson Parish and other government agencies and entities. Shaw is presently providing temporary roofing and repairs under its existing "Blue Roof" contract. The company is providing critical logistical support to the U.S. Postal Service to restore mail service and has been providing critical food water and supplies to hospitals in the area. Shaw has provided emergency communications capabilities to both the city of New Orleans and St. Bernard Parish.

Mr. Bernhard continued, "We have already mobilized 2,000 people and are continuing to dispatch thousands of additional personnel over the next few weeks. We have, and will continue, to emphasize employing persons displaced by the storm. With the FEMA and Corps awards and the recovery work that we are performing under existing contracts, Shaw is providing a broad range of emergency response services. From establishing disaster relief centers, to providing temporary housing, and removing the floodwater from the City of New Orleans, Shaw is providing solutions."

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 18,000 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 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.

Contact Information

  • The Shaw Group Inc.
    Chris D. Sammons, 225-932-2500
    Website: www.shawgrp.com