Shaw issues statement on tragic events in Japan

Source: Shaw Group, Inc.

The Shaw Group Inc.(NYSE: SHAW) issued the following statement regarding the recent events in Japan:

On behalf of all Shaw employees around the world, I give our deepest sympathy to the people of Japan. This is an extraordinary tragedy, and we can only imagine how painful and challenging this time is for everyone in the country,” said J.M. Bernhard Jr., Shaw’s chairman, president and chief executive officer. 

“To aid in the humanitarian efforts, Shaw has made a significant contribution to the American Red Cross, and I personally have directed all of our employees, including our team of nuclear experts, to stand ready to provide any assistance and support that we can to the government and people of Japan in responding to this terrible event. 

“While it is premature to speculate on any impact the events in Japan may have on the U.S. nuclear industry, we continue to believe in the importance of nuclear energy and the role it will play in the future of our country, as well as the rest of the world. The new generation technology under construction today has been designed with greater safety systems in place that will even more effectively address the challenges we are seeing in Japan. The industry consistently incorporates operating experience and lessons learned and will continue to use those insights to make nuclear energy even safer. 

“At this time, we do not believe there will be an impact on Shaw’s nuclear projects currently under construction in the United States and China. Our customers have indicated they intend to move forward, and we believe the construction timelines will continue as planned,” said Mr. Bernhard.

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