Shaw (NYSE:SGR)
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The Shaw Group Inc. (NYSE: SGR) today announced the Nuclear Division of
its Power Group will join with the United States-India Business Council
(USIBC), the Nuclear Energy Institute and an influential group of U.S.
companies on the largest-ever nuclear trade mission to India to
investigate business opportunities for civilian nuclear trade. The
mission is scheduled to take place in January and will visit major hubs
of the Indian nuclear industry, including New Delhi, Hyderabad and
Mumbai.
Leading the mission is the USIBC, a business advocacy group representing
280 of the largest U.S. companies interested in investing in India,
joined by two dozen of India's largest global companies. The mission
comes as a result of the landmark signing of the Indo-U.S. civil nuclear
deal, which signals the readiness of both countries to pursue sales of
civilian nuclear technology to India.
As a major provider of complete lifecycle services to the commercial
nuclear industry, Shaw is well-positioned to participate in the
projected $150 billion of business that USIBC envisions between U.S. and
Indian companies over the next 30 years as a result of the nuclear trade
agreement. Shaw and the other participants in the trade mission will
work toward the creation of a strategic partnership between the two
countries, allowing for the mutually beneficial sharing of civilian
nuclear technology and substantial nuclear trade opportunities.
“Shaw is pleased to be on the forefront of this groundbreaking expansion
of India’s nuclear power sector,” said Dave Barry, president of the
Nuclear Division of Shaw’s Power Group. “Shaw has partnered with Indian
companies in the past using our proprietary ethylene technology and look
forward to exploring opportunities to provide design and construction
assistance to India’s commercial nuclear program.”
India’s rapidly growing economy and escalating electricity needs
position the country to expand its nuclear power sector. India’s
population is currently more than one billion people, and it is
projected to overtake China for the world’s largest population over the
next 20 years.
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.