Shaw’s CEO Delivers Keynote Address at 2011 Construction Users Roundtable Winter Meeting

Shaw's CEO calls for a greater focus on infrastructure and clean energy (Photo: Business Wire)

BATON ROUGE, La.--()--J.M. Bernhard Jr., chairman, president and chief executive officer of The Shaw Group Inc. (NYSE:SHAW), delivered the keynote address at the Feb. 8, 2011, Construction Users Roundtable winter membership meeting in Baton Rouge, La.

Attended by construction industry leaders, the meeting focused on the industry’s key issues, including safety, workforce development, international construction and future opportunities.

Mr. Bernhard’s keynote offered insights into the economic challenges currently facing the industry, while advocating investments in the infrastructure and power markets. Mr. Bernhard discussed economic revitalization through long-term investments in rebuilding and expanding transportation infrastructure and federal incentives for clean, reliable energy solutions.

“Jobs and the economy need to be on everyone’s mind,” said Mr. Bernhard. “The construction industry faces an unemployment rate hovering around 20 percent, and it continues to suffer. As leaders in the construction industry, it is our responsibility to work together to educate our representatives in Washington and ask them to invest in infrastructure and clean energy.”

A full transcript of Mr. Bernhard’s speech is available on Shaw’s website at www.shawgrp.com.

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 2010 annual revenues of $7 billion, Shaw has approximately 27,000 employees around the world and is the 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, operations and financial results, which are based on currently available information. Actual future results and financial performance could vary significantly from those anticipated in such statements.

Among the factors that could cause future events or transactions to differ from those we expect are those risks discussed in our Annual Report on Form 10-K for the fiscal year ended August 31, 2010, our Quarterly Reports on Form 10-Q for the quarters ended February 28, 2010, May 31, 2010 and November 30, 2010, and other reports filed with the Securities and Exchange Commission (SEC). Please read our “Risk Factors” and other cautionary statements contained in these filings. Our current expectations may not be realized as a result of, among other things:

  • Changes in our clients’ financial conditions, including their capital spending;
  • Our ability to obtain new contracts and meet our performance obligations;
  • Client contract cancellations or modifications to contract scope;
  • Worsening global economic conditions;
  • Changes to the regulatory environment;
  • Litigation or arbitration decisions;
  • Failure to achieve projected backlog.

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. 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.

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Contacts

The Shaw Group Inc.
Gentry Brann, 225-987-7372
gentry.brann@shawgrp.com

Release Summary

J.M. Bernhard Jr., chairman, president and chief executive officer of The Shaw Group Inc. (NYSE:SHAW), delivered the keynote address at the Feb. 8, 2011, Construction Users Roundtable winter meeting.

Contacts

The Shaw Group Inc.
Gentry Brann, 225-987-7372
gentry.brann@shawgrp.com