Shaw Awarded Contract for Maintenance and Construction Services at Multiple Honeywell Sites
11 February 2009 - 1:00AM
Business Wire
The Shaw Group Inc. (NYSE: SGR) today announced the Maintenance
Division of its Power Group has been awarded a new contract by
Honeywell Specialty Materials that expands and consolidates several
existing maintenance, small capital construction, reliability and
engineering services contracts in Virginia and Louisiana.
Shaw�s new contract with Honeywell establishes a framework to
expedite additions to project scope, potentially including new
sites or services. Shaw�s three-year maintenance contract is valued
at $25 million and will be included in the company's second quarter
fiscal year 2009 backlog of unfilled orders.
"Honeywell is a diverse company with a variety of evolving
needs. This multi-site master agreement gives Shaw the flexibility
to respond rapidly with skilled, experienced staff," said Ron
McCall, president of Shaw's Maintenance Division. "This agreement
allows us to assist Honeywell in meeting task or site goals in a
cost-effective manner.�
Shaw currently provides reliability and plant engineering
services at several Honeywell sites through parallel in-plant
agreements. In 2008, Shaw introduced a new Process Safety
Management (PSM) service at Honeywell�s Hopewell, Va., location,
auditing equipment files and requirements specific to its
industrial plant. Reliability, plant engineering and PSM services
are tailored to the needs of each plant, decreasing costs and
increasing project efficiency.
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.
Shaw (NYSE:SGR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Shaw (NYSE:SGR)
Historical Stock Chart
From Jul 2023 to Jul 2024
