BATON ROUGE, La.--(BUSINESS WIRE)--The Shaw Group Inc. (NYSE: SHAW) today announced it has been awarded a contract by the state of Louisiana’s Office of Coastal Protection and Restoration for overall project management and construction of sand berms in response to the Deepwater Horizon oil spill.
Shaw will assist the state with permit compliance and monitoring activities in addition to providing personnel, materials and equipment to build these sand berms. Construction of the berms in accordance with the emergency permit issued to the state will require mobilization, front-end planning, material testing and analysis, dredging and alignment surveys, as well as coordination with state and federal agencies.
“In this time of crisis, we are mobilizing available resources both locally and internationally to help protect our coastline,” said J.M. Bernhard Jr., Shaw’s chairman, president and chief executive officer. “With our corporate headquarters in Baton Rouge and more than 5,000 Louisiana-based employees, our roots are firmly planted in this state. Shaw has a deep personal interest in the protection of our state’s coastal resources.”
Shaw has extensive experience in disaster response, program management and environmental remediation. Immediately following Hurricane Katrina in 2005, Shaw unwatered 50 billion gallons of water from the city of New Orleans in 17 days, when projected estimates were as many as 90 days. For the U.S. Coast Guard, Shaw performed removal of wrecked vessels and associated debris in Gulf Coast waterways.
As the project manager for the largest design-build civil works project ever awarded by the U.S. Army Corps of Engineers, Shaw is constructing the Inner Harbor Navigation Canal Surge Barrier. When completed, the two-mile floodwall will be part of a system providing 100-year storm protection to the city of New Orleans and surrounding areas. Shaw also assisted the Coastal Protection and Restoration Authority in developing Louisiana's Comprehensive Master Plan for a Sustainable Coast—the guide for all coastal restoration and protection efforts in the state.
The amount to be included in Shaw’s Environmental & Infrastructure segment’s backlog of unfilled orders in the fourth quarter of fiscal year 2010 was undisclosed.
Headquartered in Baton Rouge, La, Shaw is a Fortune 500 company with fiscal year 2009 annual revenues of $7.3 billion and approximately 28,000 employees around the world. For more information, please visit Shaw’s website 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 website 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 website at www.shawgrp.com.