Presse économique / Energie
BATON ROUGE, Louisiane -- (BUSINESS WIRE) -- June 10, 2005 --
Le Consortium Westinghouse / Mitsubishi / Shaw vise de nouvelles opportunités d'implantation d'une centrale nucléaire en Chine
The Shaw Group Inc. (NYSE: SGR) a annoncé ce jour que son unité Shaw Stone & Webster, Inc., venait de rejoindre le « Consortium AP1000 » formé par Westinghouse Electric Company et Mitsubishi Heavy Industries (Bourse de Tokyo : MHI).
Shaw Joins Westinghouse and Mitsubishi "AP1000 Consortium" as Architect Engineer
Business Editors/Energy Writers
BATON ROUGE, La.--(BUSINESS WIRE)--June 10, 2005- - Westinghouse/Mitsubishi/Shaw Consortium to Target New Nuclear Power Plant Opportunities in China
The Shaw Group Inc. (NYSE: SGR) today announced that its Shaw Stone & Webster unit has joined the Westinghouse Electric Company and Mitsubishi Heavy Industries (Tokyo Stock Exchange: MHI) "AP1000 Consortium". The AP1000 Consortium is currently proposing to provide the "Nuclear Island," including the AP1000 reactor and technology transfer, for four nuclear generating units in China where the demand for energy is growing rapidly.
Two of the nuclear units would be constructed in Sanmen, in theZhejiang province near Qinshan, for China National Nuclear Corporation. The two remaining units would be built in Yangjiang, in the Guangdong province west of Hong Kong, for China Guangdong Nuclear Power Company. The scope of work for Shaw would include construction management, project planning and oversight, and a portion of the engineering and procurement functions. Shaw will provide piping modules and modularization expertise through its pipe fabrication facility in Nanjing, China. The AP1000 technology is the first Generation III+ reactor design to receive approval from the U.S. Government's Nuclear Regulatory Commission. Generation III+ is the U.S. Department of Energy's nomenclature for the new generation of competitive reactor designs that will follow the Generation III Advanced Light Water Reactors developed in the 1990s.
Shaw Stone & Webster and Westinghouse have a long history of working closely together beginning with the Shippingport Atomic Power Station, the first commercial nuclear-powered central electric-generating station in the United States to more recent advanced reactor design and licensing activities and power uprate projects for operating nuclear plants.
J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw, said, "As the premier maintenance provider for over one-third of the United States' nuclear facilities, and a key architect engineer involved in the design and construction of 17 of the nation's nuclear power plants, Shaw is uniquely qualified to participate in the AP1000 Consortium and assist China in achieving its energy goals. In addition to our broad range of nuclear expertise, Shaw is a recognized international leader in pipe fabrication and is the only fabricator certified by ASME to assemble piping systems for nuclear generating facilities. Our pipe shop in China can produce premier piping systems for the country's nuclear plants efficiently and cost-effectively."
Shaw has significant experience in China and Asia, having just completed a 600,000 metric tons-per-year ethylene plant for the BASF-YPC Integrated Petrochemical Site located in Nanjing. With over 20 million work-hours, the project achieved an exemplary safety record of zero lost time accidents. Additionally, Shaw is currently performing engineering and design services for Taiwan Power Company's Lungmen Nuclear Power Plant, Units 1 and 2. Shaw is also providing engineering support services to Korea Power Engineering Company, Inc. (KOPEC) for Shin-Kori 1 & 2 and Shin-Wolsong 1 & 2 nuclear plants in the Republic of Korea
. The Company is currently performing construction and construction management services for the restart of the Browns Ferry Unit 1 nuclear power plant for the Tennessee Valley Authority.
Mr. Bernhard continued, "We are pleased to join Westinghouse and Mitsubishi to provide premier nuclear services and expertise to the People's Republic of China and other regions focused on providing a sustainable, clean source of energy to their citizens. We look forward to working with the AP1000 Consortium to bring world-class nuclear solutions to the global community."
Westinghouse Electric Company, wholly owned by BNFL plc of the United Kingdom, is the world's pioneering nuclear power company and is a leading supplier of nuclear plant projects and technologies to utilities throughout the world. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants.
Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one of the world's leading heavy machinery manufacturers, with consolidated sales of 2,373 billion yen in fiscal 2003 (year ended March 31, 2004). MHI's diverse lineup of products and services encompasses shipbuilding, steel structures, power plants, chemical plants, steel plants, environmental equipment, industrial and general machinery, aircraft, space rocketry and air-conditioning systems. For more information, please visit the MHI website (http://www.mhi.co.jp).
The Shaw Group Inc. is a leading global provider of technology, engineering, procurement, construction, maintenance, fabrication, manufacturing, consulting, remediation, and facilities management services for the energy, chemicals, environmental, infrastructure and emergency response markets. With over $3 billion in revenues, Shaw is headquartered in Baton Rouge, Louisiana, and employs approximately 20,000 people at its offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region. The Company was recently named for the second consecutive year to Fortune magazine's annual list of "America's Most Admired Companies". For further information, please visit Shaw's website 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 0Company's website 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 website at www.shawgrp.com.
The Shaw Group Inc., Baton Rouge
Chris D. Sammons, 225-932-2546