BATON ROUGE, La. --One of The Shaw Group Inc.'s (NYSE: SHAW) largest and most complex projects has surpassed 7 million consecutive work hours without a lost workday from injury. The Mixed Oxide (MOX) Fuel Fabrication Facility in Aiken, S.C., achieved the milestone through its approximately 2,400-member workforce on Jan. 19, 2012. Achieving 7 million safe work hours on a project of this scale, importance and complexity demonstrates Shaw's commitment to safety.
Our record demonstrates Shaw's strong safety culture and validates Shaw's efforts to achieve the highest safety standards in our industry.
Safety is a core value at Shaw and this is reflected in everything we do, said J.M. Bernhard, Shaw's chairman, president and CEO. Our record demonstrates Shaw's strong safety culture and validates Shaw's efforts to achieve the highest safety standards in our industry.
MOX is only one of many Shaw worksites with an exemplary safety record. Cumulatively, Shaw has achieved millions of hours without lost work time from injuries and has received recognition for its safety performance, including the following:
- 2.7 million safe work hours combined at the Virgil C. Summer Nuclear Generating Station in Jenkinsville, S.C., and the Alvin W. Vogtle Electric Generating Plant in Burke County, Ga.
- 3.3 million safe work hours at the Shaw Sunland Fabricators Inc. facility in Walker, La.
- Approximately 17.9 million safe work hours combined from 11 of Shaw's Plant Services Division's work sites across the U.S.
- The Royal Society for the Prevention of Accidents' (RoSPA) President's Award in the U.K. for 10 years of continuous RoSPA Gold Medal Occupational Safety Awards
In 2011, the National Council on Compensation Insurance (NCCI) reported that Shaw's most recent injury data was less than half of the industry average when comparing Shaw's injury experience to other companies similar in size. This was the fifth consecutive year that Shaw's injury data had improved. NCCI is the largest provider of workers compensation and employee injury data and statistics in the nation.
Shaw's companywide Targeting Zero program promotes zero injuries, illnesses and environmental harm. Targeting Zero is supported by other safety programs designed to minimize health and safety risks to Shaw's employees, clients, the public and the environment.
The Shaw Group Inc. (NYSE:SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2011 annual revenues of $5.9 billion, Shaw has approximately 27,000 employees around the world and is a power sector industry leader according to Engineering News-Record's list of Top 500 Design Firms. For more information, please visit Shaw's website at www.shawgrp.com.
This press release contains forward-looking statements and information about our current and future prospects and our operations and financial results, which are based on currently available information. The forward-looking statements include assumptions about our operations, such as cost controls and market conditions, that may not be realized. Actual future results and financial performance could vary significantly from those anticipated in such statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, the occurrence of certain events or otherwise.
Among the factors that could cause future events or transactions to differ from those we expect are those risks discussed under Item 1A Risk Factors in our Annual Report on Form 10-K for the fiscal year ended August 31, 2011, our Quarterly Report on Form 10-Q for the quarter ended November 30, 2011, and other reports filed with the Securities and Exchange Commission (SEC). Please read our Risk Factors and other cautionary statements contained in these filings.
As a result of these risks and others, actual results could vary significantly from those anticipated in this press release, and our financial condition and results of operations could be materially adversely affected.