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The Shaw Group implements new organization structure; Appoints New Chief Financial Officer.

BATON ROUGE, La.--(BUSINESS WIRE)--May 14, 1997--The Shaw Group Inc. (NYSE:SGR) today announced that it has formed three business units: Shaw Power Services, Inc., which specializes in the engineering, design and fabrication of piping systems and the design and manufacture of pipe hangers and supports for the electric power industry; Shaw Process and Industrial Group, Inc., which specializes in pipe fabrication, as well as project construction and maintenance for the chemical and refining industries worldwide; and Shaw Products and Services, Inc., which specializes in the manufacturing and distribution of specialty pipe components. In addition, the Company announced the appointment of Edward L. Pagano as the Company's Chief Financial Officer. Pagano replaces Bret M. Talbot, who has resigned from the Company to pursue other interests.

Pagano has spent the past eight years with Kvaerner John Brown, where he was Senior Vice President and Chief Financial Officer for the company's U.S. operations. Kvaerner John Brown, a division of Kvaerner a.s. of Oslo, Norway, is the third largest engineering and construction company in the world, specializing in providing total turnkey projects to the chemical, hydrocarbon and pharmaceutical industries. Previously, Pagano worked for four years as Controller for URS Consultants, Inc., an engineering and construction consulting firm located in Paramus, New Jersey.

J.M. Bernhard, Jr., Shaw's President and Chief Executive Officer, commented, "We are confident that the Company's new organization structure more efficiently addresses the needs and opportunities within our growing enterprise and the industries we serve. Ed Pagano is very strong in the areas of systems and controls and brings significant industry knowledge and experience to the Company. We are pleased that he has joined our management team."

The Shaw Group is the leading supplier of piping systems in the United States, serving primarily the electric power, chemical and refining industries worldwide. Shaw, which operates mainly through wholly-owned subsidiaries, has fabrication facilities in Louisiana, Oklahoma, South Carolina, Utah and Venezuela and a joint-venture facility in Bahrain. Shaw is also a leading U.S. manufacturer of specialty pipe components with a manufacturing complex in Shreveport, Louisiana. In addition, Shaw has industrial construction and maintenance operations in Louisiana, engineering and design offices in New Jersey and Toronto, Canada and a pipe hanger manufacturing facility in Longview, Texas.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this press release that are not historical facts may be forward-looking. The forward looking statements are subject to certain risks and uncertainties, including without limitation those identified below, which could cause actual results to differ materially from historical results or those anticipated. Readers are cautioned not to place undue reliance on these forward looking statements, which speak only as of their dates. The following factors could cause actual results to differ materially from historical results or those anticipated: adverse economic conditions, the impact of competitive products and pricing, product demand and acceptance risks, the presence of competitors with greater financial resources, costs and difficulties associated with the integration and administration of distribution arrangements, capacity and supply constraints or difficulties, the results of financing efforts, delays or difficulties in the production, delivery or installation of products, and other risks detailed from time to time in Shaw's Securities and Exchange Commission filings. The Shaw Group Inc. assumes no obligation to update the information included in this press release.

CONTACT: The Shaw Group Inc., Baton Rouge

Laurie J. Schultz, 504/296-1140
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Publication:Business Wire
Date:May 14, 1997
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