The Shaw Group Inc.
NYSE : SGR

The Shaw Group Inc.

March 23, 2006 09:02 ET

Shaw Awarded Design, Procurement and Project Management Contract by SK Corporation for Fluid Catalytic Cracking Unit in Korea

BATON ROUGE, La.--(CCNMatthews - Mar 23, 2006) -

The Shaw Group Inc. (NYSE: SGR) today announced that its Shaw Stone & Webster unit has been awarded a contract by SK Corporation for the basic design, procurement of critical equipment and project management for a 60,000 barrels per stream per day fluid catalytic cracking (FCC) unit in Ulsan, Korea. Under the contract, Shaw will integrate 14 process units, define the utility and offsite requirements and provide assistance in the overall management of the project.

J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw, said, "Shaw is very pleased to have been selected to provide design, engineering, procurement and construction project management expertise to this important project. This win marks the eleventh project that Shaw will have executed for SK over the past 20 years. Our global chemicals team continues to provide business solutions to long-time clients like SK Corporation around the world."

SK Corporation has been the leading energy and chemical company in Korea since its inception as the first oil refining company in Korea more than 43 years ago.

The Shaw Group Inc. is a leading global provider of technology, engineering, procurement, construction, maintenance, fabrication, manufacturing, consulting, remediation, and facilities management services for the energy, chemicals, environmental, infrastructure and emergency response markets. With over $3 billion in revenues, Shaw is headquartered in Baton Rouge, Louisiana, and 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 has twice been named as one of "America's Most Admired Companies" by Fortune magazine. 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., Baton Rouge
    Chris D. Sammons, 225-932-2546
    www.shawgrp.com