Shaw awarded consulting services contract for Haiyang nuclear power station turbine island
Baton Rouge, La. (BUSINESS WIRE) - The Shaw Group Inc. (NYSE: SGR) announced today that the Nuclear Division of its Power Group has signed a contract with Shandong Electric Power Engineering Consulting Institute (SDEPCI) to provide engineering service support for the Haiyang nuclear power station turbine island, which will be constructed in Shandong province on the eastern coast of China. The value of the contract, which will be included in Shaw's second quarter fiscal 2008 backlog, was undisclosed.
In July 2007, Shaw and Westinghouse Electric Company, its AP1000 Consortium partner, signed definitive contracts to provide two AP1000 nuclear power plants at the Haiyang site and two at the Sanmen site in Zhejiang province. This contract with SDEPCI extends the scope of Shaw's involvement with the Haiyang nuclear power station project.
Shaw's new contract includes development of the conceptual and basic designs for the turbine islands for each of the two 1,100-megawatt Westinghouse AP1000 nuclear units to be constructed at the Haiyang site.
"We look forward to a long and mutually beneficial relationship with SDEPCI, which is one of the premier design institutes in China," said David P. Barry, president of Shaw's Nuclear Division. "Shaw and SDEPCI each have a long history of successful thermal plant engineering, and this contract will build on our complementary capabilities in developing the design for the Haiyang nuclear station turbine island."
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, chemicals, environmental, infrastructure and emergency response markets.
A Fortune 500 company with nearly $6 billion in annual revenues, Shaw is headquartered in Baton Rouge, La., and employs approximately 27,000 people at its offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region. For further information, please visit Shaw's Web site 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.
The Shaw Group Inc.
Financial
Contact: Chris Sammons, 225-932-2546
or Media
Contact: Sean Clancy, 225-987-7129
Baton Rouge, La. (BUSINESS WIRE) - The Shaw Group Inc. (NYSE: SGR) announced today that the Nuclear Division of its Power Group has signed a contract with Shandong Electric Power Engineering Consulting Institute (SDEPCI) to provide engineering service support for the Haiyang nuclear power station turbine island, which will be constructed in Shandong province on the eastern coast of China. The value of the contract, which will be included in Shaw's second quarter fiscal 2008 backlog, was undisclosed.
In July 2007, Shaw and Westinghouse Electric Company, its AP1000 Consortium partner, signed definitive contracts to provide two AP1000 nuclear power plants at the Haiyang site and two at the Sanmen site in Zhejiang province. This contract with SDEPCI extends the scope of Shaw's involvement with the Haiyang nuclear power station project.
Shaw's new contract includes development of the conceptual and basic designs for the turbine islands for each of the two 1,100-megawatt Westinghouse AP1000 nuclear units to be constructed at the Haiyang site.
"We look forward to a long and mutually beneficial relationship with SDEPCI, which is one of the premier design institutes in China," said David P. Barry, president of Shaw's Nuclear Division. "Shaw and SDEPCI each have a long history of successful thermal plant engineering, and this contract will build on our complementary capabilities in developing the design for the Haiyang nuclear station turbine island."
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, chemicals, environmental, infrastructure and emergency response markets.
A Fortune 500 company with nearly $6 billion in annual revenues, Shaw is headquartered in Baton Rouge, La., and employs approximately 27,000 people at its offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region. For further information, please visit Shaw's Web site 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.
The Shaw Group Inc.
Financial
Contact: Chris Sammons, 225-932-2546
or Media
Contact: Sean Clancy, 225-987-7129
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