The Shaw Group Inc.
NYSE : SGR

The Shaw Group Inc.

July 07, 2005 08:54 ET

Shaw Awarded Engineering, Procurement and Construction Projects by PPL Corporation; Shaw to Retrofit Coal-Fired Generating Units at Two PPL Plants

BATON ROUGE, La.--(CCNMatthews - Jul 7, 2005) -

The Shaw Group Inc. (NYSE: SGR) today announced that its Shaw Stone & Webster unit has been awarded engineering, procurement and construction (EPC) projects by PPL Generation LLC, a subsidiary of PPL Corporation (NYSE: PPL), to retrofit three of PPL's coal-fired generating units at two plants with pollution controls. In February 2005, PPL announced its intent to invest in pollution controls at its Montour and Brunner Island facilities. Shaw Stone & Webster has been selected to install flue gas desulphurization (FGD) units at two generating units at PPL's Montour power plant and at the largest generating unit at the Brunner Island location. The FGD units, also known as "scrubbers," will remove at least 97 percent of the sulfur dioxide emitted from the generating units thereby improving the air quality surrounding the facilities. The projects, including both locations, are expected to create approximately 800 jobs during the construction phase, as well as additional permanent positions once operation of the scrubbers begins. Engineering is already in progress and construction on the projects is expected to begin in 2006. Completion for the Montour location is expected in spring 2008 and in fall 2008 for Brunner Island. The value of the project awards was not disclosed.

J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw, said, "We are very pleased to be working with PPL on these important projects. PPL has consistently upheld the highest standards in environmental policies and these scrubber retrofit projects are examples of their commitment to provide environmentally sound power to their customers. These PPL projects are yet another opportunity for our Shaw team to demonstrate its complete project capabilities in the rapidly expanding 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 Information

  • The Shaw Group Inc.
    Chris D. Sammons, 225-932-2500