SGR
NYSE : SGR

October 01, 2005 12:42 ET

Shaw Employs Louisiana Subcontractors and Small Businesses for Ongoing Rebuilding Efforts

BATON ROUGE, La.--(CCNMatthews - Oct 1, 2005) -

The Shaw Group Inc. (NYSE: SGR) today announced that over 80% of its subcontractors currently working in Louisiana on hurricane recovery and rebuilding efforts are Louisiana-based businesses. In addition, approximately 62% of its subcontractors are small businesses as classified under the U.S. Department of Labor regulations and nearly 30% of the small businesses are African-American, women-owned, or other "disadvantaged" enterprises. Shaw is focused on employing Louisiana-based businesses, minority-owned businesses, and small businesses. Shaw has been a leader in hurricane recovery and rebuilding activities in Louisiana as a prime contractor for the Federal Emergency Management Agency and the U.S. Army Corps of Engineers to remove the floodwaters in the City of New Orleans and provide temporary roofing and housing throughout Louisiana.

J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw, said, "Shaw remains committed to the rapid recovery and rebuilding of Louisiana in the aftermath of the recent hurricanes. As part of our vision of a strong and thriving Louisiana, we understand that everyone in the State must promote and support Louisiana-based companies and small businesses. Our focus is to employ Louisiana contractors and small and minority-owned enterprises, and we are particularly committed to working with those companies and individuals who have been personally impacted by Hurricanes Katrina and Rita. We will continue to seek out innovative ways to not only rebuild our infrastructure but to assist those most affected by this storm in rebuilding their lives."

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