SOURCE: Willbros Group, Inc.

Willbros Group, Inc.

December 13, 2010 07:00 ET

Willbros Reorganizes New Utility Transmission and Distribution Segment

HOUSTON, TX--(Marketwire - December 13, 2010) - Willbros Group, Inc. (NYSE: WG) announced today that, in continuing to implement its initiative to fully integrate the InfrastruX Group, acquired in July 2010, into its Utility Transmission and Distribution segment ("UT&D"), it has identified cost and management synergies that could be realized by closing the Seattle administrative offices of InfrastruX. As a result, certain elements of the Seattle office will be transitioned into other UT&D business units and the finance and administrative activities of the Seattle office will be integrated into Willbros' corporate office in Houston, Texas. The transition is expected to be completed on or before February 28, 2011.

Effective immediately, Mike Giarratano, president of the UT&D south central distribution business units and president and CEO of the UT&D Hawkeye group of companies in the northeast, has been appointed chief operating officer of UT&D. Michael Lennon, current president of UT&D, and several other managers will leave their current positions to pursue other endeavors. During the transition period, Mr. Lennon will provide continuity to customer relationships and oversight of the reorganization and after February 28, Mr. Lennon will continue as a consultant and advisor for Willbros.

Randy Harl, President and Chief Executive Officer, commented, "We are making these organizational changes to align the management and leadership of our new segment with the market opportunities we recognize and to capture the efficiencies of a leaner management structure. Mike Giarratano's customer relationships, knowledge of our UT&D business units and his more than 30 years of industry operating experience give us great confidence that he can lead our new UT&D organization and meet the needs of both our customers and our business units going forward. Mike will work closely with Jim Gibson, Willbros Chief Operating Officer, to accelerate the introduction, adoption and use of the management tools and processes we have developed and employed with positive effect in our legacy business units. We will continue to implement our integration plan to achieve optimal utilization of our resources and execution of our strategic plan to diversify our service offerings into the growing utility transmission and distribution market."

Willbros Group, Inc. is an independent contractor serving the oil, gas, power, refining and petrochemical industries, providing engineering, construction, turnaround, maintenance, life cycle extension services and facilities development and operations services to industry and government entities worldwide. For more information on Willbros, please visit our web site at www.willbros.com.

This announcement contains forward-looking statements. All statements, other than statements of historical facts, which address activities, events or developments the Company expects or anticipates will or may occur in the future, are forward-looking statements. A number of risks and uncertainties could cause actual results to differ materially from these statements, including the potential for additional investigations; disruptions to the global credit markets; global economic downturn; fines and penalties by government agencies; new legislation or regulations detrimental to the economic operation of refining capacity in the United States; the identification of one or more other issues that require restatement of one or more prior period financial statements; contract and billing disputes; the integration and operation of InfrastruX; the possible losses arising from the discontinuation of operations and the sale of the Nigeria assets; the existence of material weaknesses in internal controls over financial reporting; availability of quality management; availability and terms of capital; changes in, or the failure to comply with, government regulations; ability to remain in compliance with, or obtain waivers under, the Company's loan agreements and indentures; the promulgation, application, and interpretation of environmental laws and regulations; future E&P capital expenditures; oil, gas, gas liquids, and power prices and demand; the amount and location of planned pipelines; poor refinery crack spreads; delay of planned refinery outages and upgrades; the effective tax rate of the different countries where the Company performs work; development trends of the oil, gas, power, refining and petrochemical industries and changes in the political and economic environment of the countries in which the Company has operations; as well as other risk factors described from time to time in the Company's documents and reports filed with the SEC. The Company assumes no obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • CONTACT:

    Michael W. Collier
    Vice President Investor Relations
    Sales & Marketing
    Willbros
    713-403-8038

    Connie Dever
    Director Strategic Planning
    Willbros
    713-403-8035