New Jersey Turnpike Authority Selects Shaw for Professional Engineering and Construction Management Services
BATON ROUGE, La.-(Business Wire)-August 27, 2009 - The Shaw Group Inc. (NYSE: SHAW) today announced it has been selected by the New Jersey Turnpike Authority to perform construction management and inspection services for the Interchange 6 to 9 Widening Program as part of a five-year, $2.5 billion program for the New Jersey Turnpike that will add 170 lane miles through 11 communities and three counties in central New Jersey.
Shaw’s scope of work focuses on the Turnpike section from the Pearl Harbor Memorial Turnpike Extension (commonly referred to as Interchange 6) to the existing roadway near Interchange 8A and consists of utility improvements and widening of 2.3 miles of the Turnpike at Interchange 7A, which includes 13 bridge structures requiring new construction, modification or replacement. Shaw will oversee and manage all construction activities, including project scheduling, cost control, progress reporting, inspection, testing, cost analyses and environmental compliance, in accordance with designs, plans and specifications.
The undisclosed value of the contract will be included in the Environmental & Infrastructure segment’s backlog of unfilled orders in the fourth quarter of fiscal year 2009.
“Under this contract, Shaw will oversee the expansion of a section of one of the busiest turnpikes in the Northeast U.S. corridor,” said George Bevan, president of Shaw’s Environmental & Infrastructure Group. “With the depth of our resources and leadership in managing large-scale, schedule-intensive construction programs, Shaw brings its program management expertise to another project impacting our national infrastructure.”
Shaw has provided successful program management services on transportation projects for federal, state and local governments, including oversight of $4.6 billion construction program for the U.S. Department of Transportation’s Federal Transit Administration. Shaw oversaw the agency’s execution of major transit projects to manage on time, within budget and compliant with approved plans and specifications.
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 fiscal year 2008 annual revenues of $7 billion, Shaw is headquartered in Baton Rouge, La., and employs approximately 26,000 people at its offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region. Shaw is the power sector industry leader according to Engineering News-Record’s list of Top 500 Design Firms. 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.
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