Shaw Selected as Program Manager for the Department of Defense Environmental Restoration Program at Redstone Arsenal
BATON ROUGE, La.-(Business Wire)-September 3, 2009 - The Shaw Group Inc. (NYSE: SHAW) today announced it has been awarded an Indefinite Delivery/Indefinite Quantity (IDIQ) contract for the Department of Defense’s Environmental Restoration Program. Under the terms of the contract, Shaw will serve as the U.S. Army’s program manager for environmental cleanup at the Redstone Arsenal (RSA) installation in Huntsville, Ala.
Shaw’s environmental remediation and restoration and program management services will support the Army’s efforts to remediate RSA sites. Shaw’s scope of work will include strategic program planning and scheduling, program integration, coordination and communication, quality assurance/quality control, subcontractor procurement initiation and oversight, technical support, budget and financial management and administrative services.
The total value of the contract is $350 million, if all options are exercised. The amount that will be included in the Environmental & Infrastructure segment’s backlog of unfilled orders in the fourth quarter of fiscal year 2009 was not disclosed.
“Facilities remediated of harmful contaminants are essential for the Department of Defense to train and develop the next-generation military,” said George Bevan, president of Shaw’s Environmental & Infrastructure Group. “Shaw’s level of expertise in remediation and program management provides seamless support toward achieving RSA clean-up goals by 2014.”
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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