NEWS:Company Press Release
Shaw Receives $20 Million in Power Project Awards
BATON ROUGE, La.--(BUSINESS WIRE)--Nov. 4, 1997--The Shaw Group Inc. (NYSE:SGR)
announced today that it has been awarded two electric power projects totaling approximately $20
million. The contracts cover engineering and design, pipe fabrication, hangers and supports for
critical and low pressure piping for one 1000 megawatt combined cycle power plant in Taiwan and
balance of plant pipe fabrication for four 600 megawatt oil fired units in Saudi Arabia.
J.M. Bernhard, Jr., Shaw's President and Chief Executive Officer, commented, ''The international
markets continue to provide abundant opportunities for Shaw and our proposal activity for overseas
contracts remains at healthy levels. Our continued success in securing international power work is
tied to our ability to offer turnkey piping systems and, in some cases, to provide regional fabrication
services at our strategically located facilities.''
The Shaw Group Inc. is a leading supplier of piping systems and provider of industrial construction
and maintenance services primarily for the electric power, chemical, petrochemical, gas processing
and refining industries worldwide. Shaw is committed to being a ''total piping resource'' for its
customers by offering comprehensive design and engineering services, piping system fabrication,
manufacturing and sale of specialty pipe fittings, design and manufacture of pipe support systems and
on-site installation. The Company, which operates mainly through wholly-owned subsidiaries, has
pipe fabrication facilities in Louisiana, Oklahoma, South Carolina, Utah and Venezuela, as well as a
joint-venture facility in Bahrain. Shaw also has a pipe fittings manufacturing facility in Shreveport,
La.; construction and maintenance operations in Baton Rouge, La.; engineering and design offices in
Englewood, N. J. and Toronto, Canada and pipe supports manufacturing facilities in Longview,
Texas and Vacaville, Calif.
''Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: The
statements contained in this press release that are not historical facts may be forward-looking. The
forward looking statements are subject to certain risks and uncertainties, including without limitation
those identified below, which could cause actual results to differ materially from historical results or
those anticipated. Readers are cautioned not to place undue reliance on these forward looking
statements, which speak only as of their dates. The following factors could cause actual results to
differ materially from historical results or those anticipated: adverse economic conditions, the impact
of competitive products and pricing, product demand and acceptance risks, the presence of
competitors with greater financial resources, costs and difficulties associated with the integration and
administration of distribution arrangements, capacity and supply constraints or difficulties, the results
of financing efforts, delays or difficulties in the production, delivery or installation of products, and
other risks detailed from time to time in Shaw's Securities and Exchange Commission filings. The
Shaw Group Inc. assumes no obligation to update the information included in this press release.
Contact:
The Shaw Group, Baton Rouge
Edward L. Pagano or Laurie J. Schultz, 504/296-1140 |
