Shaw Awarded Nuclear Power Maintenance Contract by AmerenUE.
AmerenUE is an associate member of the Utilities Service Alliance, Inc., consisting of 14 utilities operating 31 reactors capable of producing in excess of 30,850 megawatts of electrical power. With the addition of AmerenUE's Callaway plant, Shaw provides nuclear maintenance services to seven nuclear units within the alliance, including two units operated by Southern California Edison, two units operated by South Texas Project and two units operated by Luminant.
Under the new contract, Shaw will provide routine maintenance/modifications, refueling maintenance/modifications and capital construction services. The undisclosed value of the contract will be included in the Maintenance segment's backlog of unfilled orders in the first quarter of fiscal year 2010.
"We have established a solid foundation of nuclear maintenance with other members of the Utilities Service Alliance," said Fred Buckman, president of Shaw's Power Group. "We are committed to working hand-in-hand with AmerenUE to build upon the Callaway nuclear plant's refueling outages success while upholding Shaw's core values of safety and superior operational performance."
Shaw provides systemwide maintenance and modification services to 40 of 104 U.S. nuclear reactors in the United States, including the country's two largest nuclear fleets. Shaw is a leader in nuclear refueling outage performance with significantly shorter outages than the industry average and has performed uprates and studies on 48 operating pressurized water reactor (PWR) and boiling water reactor (BWR) nuclear units, adding more than 2,265 megawatts to the U.S. grid.
With assets of approximately $23 billion, Ameren serves approximately 2.4 million electric customers and almost one million natural gas customers in a 64,000-square-mile area of Missouri and Illinois. Ameren owns a diverse mix of electric generating plants strategically located in its Midwest market with a generating capacity of more than 16,400 megawatts.
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
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|Date:||Sep 17, 2009|
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