Shaw Group awarded contract for Hurricane Rebuilding (Blanco's buddies) $300 million

Shaw Group ^ | Sept 9, 2005 | Press Release

[TaxRelief]

BATON ROUGE, La.--(BUSINESS WIRE)--Sept. 9, 2005--The Shaw Group Inc. (NYSE: SGR) announced today that it has been awarded an Indefinite Delivery/Indefinite Quantity (ID/IQ) contract from the U.S. Army Corps of Engineers to aid in the recovery and rebuilding efforts. Shaw will provide supervision, equipment, materials, labor, logistics, and all means necessary to provide the Corps of Engineers an immediate response for construction contract capability. The contract will provide construction and related services including program planning, scheduling, design, engineering, transportation, construction management, and quality control. Under this contract, Shaw has received its first task of pumping floodwater from the city of New Orleans out and over the levees. Shaw is using temporary pumps and is repairing and restarting the existing pump stations. The $100 million contract has a base period of one-year, with an additional one-year option. Shaw announced earlier today a $100 million ID/IQ contract award by the Federal Emergency Management Agency (FEMA) to provide support services in the aftermath of Hurricane Katrina, including housing assistance for displaced residents.

J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw commented, "This significant contract from the Corps, combined with our award from FEMA, enhances our ability to make an immediate and pronounced impact on the restoration efforts in New Orleans, South Louisiana and the Gulf Coast region. With nearly 5,000 of our own employees living and working here in our home state, we have been personally impacted by this devastating storm. We are committed to this region and we are grateful for the opportunity to play a leadership role in the rebuilding of Louisiana and our sister city, New Orleans."

Shaw is currently performing services under existing contracts with the U.S. Army Corps of Engineers, NASA, the Louisiana National Guard, the U.S. Navy, Jefferson Parish and other government agencies and entities. Shaw is presently providing temporary roofing and repairs under its existing "Blue Roof" contract. The company is providing critical logistical support to the U.S. Postal Service to restore mail service and has been providing critical food water and supplies to hospitals in the area. Shaw has provided emergency communications capabilities to both the city of New Orleans and St. Bernard Parish.

Mr. Bernhard continued, "We have already mobilized 2,000 people and are continuing to dispatch thousands of additional personnel over the next few weeks. We have, and will continue, to emphasize employing persons displaced by the storm. With the FEMA and Corps awards and the recovery work that we are performing under existing contracts, Shaw is providing a broad range of emergency response services. From establishing disaster relief centers, to providing temporary housing, and removing the floodwater from the City of New Orleans, Shaw is providing solutions."

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, chemical, environmental, infrastructure and emergency response markets. Headquartered in Baton Rouge, Louisiana, with over $3 billion in annual revenues, Shaw employs approximately 18,000 people at its offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region.

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BATON ROUGE, La.--(BUSINESS WIRE)--Sept. 8, 2005--The Shaw Group Inc. (NYSE: SGR) today announced that it has been awarded an Indefinite Delivery/Indefinite Quantity (ID/IQ) contract by the Federal Emergency Management Agency (FEMA) to provide support services in the aftermath of Hurricane Katrina. Under the terms of the contract, Shaw will provide all support services necessary to provide housing assistance for displaced residents including site assessments, design, construction, transportation, utilities and facilities management. In addition, the Company will provide on-demand services to meet the general needs of displaced residents. Shaw will also provide administrative services to register displaced residents housed at emergency shelters in multiple locations in Texas and other impacted areas. The contract is valued up to $100 million, with provisions for cost-plus, time and materials or fixed price task orders. The contract has a base period of one-year, and an additional one-year option period.

J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw commented, "With our company headquartered in Baton Rouge, Shaw and its employees are especially affected by this unprecedented natural disaster and are committed to providing immediate recovery and rebuilding services. It gives us a tremendous sense of pride and purpose to play a key leadership role in assisting our neighbors within Louisiana and the entire Gulf Coast region. We have already mobilized over 2,000 people and have begun hiring craftsman and laborers, some displaced by the storm, so that they can participate in rebuilding the region and rebuilding their lives."

[bert]

I think Bechtel is a privately held company owned by the Bechtel Family. They got the Iraq contract because they are the largest an most experienced contractor extant.

[Coleus]

fyi, time to make money