The Shaw Group Inc. (NYSE: SHAW) today announced it has been awarded a contract to provide the technology license and process design package for the revamp of a residue fluid catalytic cracking (RFCC) unit for Star Petroleum Refining Company in Map Ta Phut, Thailand. The design will upgrade the 40,800 barrels per day (bpd) RFCC unit by incorporating the latest advances in reactor system technology. “Shaw was the original licensor of this RFCC unit, which first started-up in 1996,” said James Glass, president of Shaw’s Energy & Chemicals Group. “We are now upgrading the unit to incorporate the latest technology features and improve performance and profitability.” Shaw jointly developed the proprietary RFCCU technology through an alliance with Axens and Total that began in the early 1990s. To date, Shaw and Axens have licensed 51 grassroots units and performed more than 200 revamp projects. The undisclosed value of the contract was included in Shaw’s Energy & Chemicals segment’s backlog of unfilled orders in the first quarter of fiscal year 2012. The Shaw Group Inc. (NYSE: SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2011 annual revenues of $5.9 billion, Shaw has approximately 27,000 employees around the world and is a power sector industry leader according to Engineering News-Record’s list of Top 500 Design Firms. For more information, please visit Shaw’s website at www.shawgrp.com. This press release contains forward-looking statements and information about our current and future prospects and our operations and financial results, which are based on currently available information. The forward-looking statements include assumptions about our operations, such as cost controls and market conditions, that may not be realized. Actual future results and financial performance could vary significantly from those anticipated in such statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, the occurrence of certain events or otherwise.
Among the factors that could cause future events or transactions to differ from those we expect are those risks discussed under Item 1A “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended August 31, 2011, our Quarterly Report on Form 10-Q for the quarter ended November 30, 2011, and other reports filed with the Securities and Exchange Commission (SEC). Please read our “Risk Factors” and other cautionary statements contained in these filings.As a result of these risks and others, actual results could vary significantly from those anticipated in this press release, and our financial condition and results of operations could be materially adversely affected.