The Shaw Group Inc. (NYSE: SHAW) today announced it has been awarded a contract by FirstEnergy Corp. for an air quality control program for 22 coal-fired units at eight sites in Ohio, Pennsylvania and West Virginia. The units represent more than 11,000 megawatts of electric generating capacity. Shaw will provide engineering, procurement and construction management for modern air quality control technologies to help reduce emissions including sulfur dioxide, mercury, particulate and hydrogen chloride. “With proven technical expertise and project execution capabilities, Shaw is able to help clients meet regulatory requirements, as well as provide safe, reliable electricity in an environmentally responsible way,” said Eli Smith, president of Shaw’s Power Group. “Shaw expects to play an integral role in helping power generators develop and implement compliance strategies that will meet federal and local air regulations.” Shaw is a leading provider of air quality control systems, including wet and dry flue gas desulfurization, dry sorbent injection, nitrogen oxides and mercury removal, and particulate emissions control systems. Shaw has performed emissions retrofits on more than 40,000 MW of generation within the past 10 years. The undisclosed value of the contract will be booked in phases as work is released, with the development phase included in Shaw’s Power segment’s backlog of unfilled orders in the first quarter of fiscal year 2013. 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 25,000 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 Reports on Form 10-Q for the quarters ended November 30, 2011, February 29, 2012, and May 31, 2012, 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.