The Shaw Group Inc.

The Shaw Group Inc.

October 04, 2005 08:13 ET

Shaw Increases Credit Facility to $550 Million

BATON ROUGE, La.--(CCNMatthews - Oct 4, 2005) -

Amendment raises total credit facility by $100 million and raises working capital revolving credit loan availability by $125 million to $325 million

The Shaw Group Inc. (NYSE:SGR) today announced the closing of an amendment to increase its current credit facility to $550 million, an increase of $100 million. The entire $550 million is available for performance letters of credit and up to $325 million is available for working capital revolving credit loans. The amendment is effective immediately and the credit facility expiration date remains unchanged at April 25, 2010.

Robert L. Belk, Jr., Executive Vice President and Chief Financial Officer of Shaw, said, "The past several months have been very active for Shaw. We are extremely pleased to have announced a number of significant contracts recently including awards by PPL, Duke Energy, SHARQ, FEMA, the U.S. Army Corps of Engineers, and the most recent award by CLECO. This amendment to our credit facility will enhance our financial flexibility and capabilities to meet the needs of our customers and successfully pursue additional business opportunities in the end markets we serve, particularly in the energy, chemical, and emergency response sectors."

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

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

Contact Information

  • The Shaw Group Inc., Baton Rouge
    Chris D. Sammons, 225-932-2546