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August 27th  - Projects Baton Rouge Louisiana - Shaw joint venture to build a new world-class module fabrication and assembly facility in Lake Charles Louisiana .
A state-of-the-art module fabrication and assembly facility will be built in Lake Charles, La., by a newly formed joint venture created by The Shaw Group Inc. (NYSE: SGR) and Westinghouse Electric Company, L.L.C. Shaw's Fabrication & Manufacturing Group will serve as managing member of the new joint venture, named Global Modular Solutions, L.L.C. "After an extensive search of potential sites, the Port of Lake Charles was chosen because of its deep water access, its proximity to other important modes of transportation and the availability of a skilled workforce. The state of Louisiana also offered a very competitive incentive package that will help us continue to create value for our shareholders," said J.M. Bernhard Jr., Shaw's chairman, president and chief executive officer. "Westinghouse Electric, the world-renowned pioneer in nuclear energy, is a natural fit as a strategic partner on this important project." Shaw will construct the approximately 600,000-square-foot module fabrication facility on a 300-acre site at the Port of Lake Charles. As the premier structural steel fabricator and the largest pipe fabricator in the United States, Shaw's new module fabrication facility will primarily produce structural, piping and equipment modules for new nuclear power plants utilizing the Westinghouse AP1000(TM) technology, the world's safest and most economical commercial nuclear power technology. Westinghouse's AP1000 design incorporates modern modular construction techniques that result in a shortened construction schedule and reduced capital costs for new nuclear power plants. Based on current estimated requirements for these modules, the facility will employ 1,400 workers or more at full capacity. Employment opportunities with Shaw are available by visiting www.shawgrp.com/careers. Workers specifically interested in opportunities with Global Modular Solutions, L.L.C. can either visit Shaw's Web site or an employment office will be open at the Port of Lake Charles within 90 days. The new module fabrication facility will utilize industry-leading technologies and Shaw's proprietary operations management systems, which are currently in use at other Shaw fabrication and manufacturing facilities. The new facility is scheduled to be operational in the late summer of 2009. Louisiana Governor Bobby Jindal and Department of Economic Development Secretary Stephen Moret led an aggressive team of state and local leaders in a highly competitive contest to bring this project to Louisiana. Concurrent with announcing the new module fabrication facility, Shaw also announced it reached an incentive package agreement with the state of Louisiana that will ensure its corporate headquarters will remain in Baton Rouge and its statewide payroll will increase over the next 15 years. Commenting on Shaw's agreement with the state of Louisiana, Mr. Bernhard said, "It was 21 years ago when Shaw began as a small pipe fabrication company, and today it is one of the world's leading power contractors. We are prouder than ever to call Louisiana home and to build a module facility that positions our state to be on the leading edge of the nuclear renaissance. Shaw appreciates the leadership of Governor Jindal and Secretary Moret on behalf of the state of Louisiana in their support of the company's continued growth and success." 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 2008 revenues expected to exceed $7 billion, Shaw is headquartered in Baton Rouge, La., and employs approximately 27,000 people at its offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region. For further information, please visit Shaw's Web site at www.shawgrp.com.