BATON ROUGE, La.--(BUSINESS WIRE)--The Shaw Group Inc. (NYSE: SHAW) today announced it has been awarded an indefinite delivery/indefinite quantity contract of up to $2 billion from the U.S. Department of State’s Bureau of Overseas Buildings Operations. Shaw will provide design-build, construction, supply, furnishing, shipping and site installation services for containerized housing and office units to support the Department of State’s Foreign Service Posts worldwide.
Because of their mobility, versatility and installation methods, containerized housing and office units increasingly are used as temporary facilities for military operations and diplomatic missions as well as temporary living arrangements for displaced residents and relief teams following natural disasters.
“Quickly mobilizing secure facilities is critical to effective response and relief efforts,” said George Bevan, president of Shaw’s Environmental & Infrastructure Group. “With global manufacturing resources and our emergency response experience, Shaw can efficiently design, build, transport and install containerized housing and office facilities that provide safe, functional accommodations for the Department of State’s diplomatic missions.”
For more than 20 years, Shaw has provided design-build and emergency response services to government and commercial clients, including facility and security upgrades for the Bureau of Overseas Buildings Operations, military infrastructure in Iraq and Afghanistan and large-scale housing efforts for the Federal Emergency Management Agency following major hurricanes. In support of relief efforts after the 2010 Haiti earthquake, Shaw transported and installed 46 containerized housing units in Port-au-Prince, work that also included site preparation, design, engineering, and utility and foundation construction.
Shaw is one of 13 firms selected to compete on task orders under this indefinite delivery/indefinite quantity contract. Shaw’s contract has a maximum value of $2 billion. The amount to be included in Shaw’s Environmental & Infrastructure segment’s backlog of unfilled orders in the second quarter of fiscal year 2011 was undisclosed.
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 presentation, 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.