Shaw Group (SGR) and Westinghouse Agree to Form Joint Venture for AP1000(TM) Nuclear Power Plants
More News related to SGR
- BullMarket.com Digs into Infrastructure Plays: Foster Wheeler, Shaw, CB&I, and Great Lakes Dredge & Dock
- David Moenning's Daily State of the Markets 01/08
- Shaw Group (SGR) Tops Q1 EPS Views
- Shaw Reports First Quarter Fiscal Year 2009 Financial Results
- Trading Radar for 1/8: Chevron (CVX), Shaw Group (SGR), Apollo (APOL), FCStone (FCSX), Schnitzer Steel (SCHN) Report; Initial Jobless Claims, Consumer Credit for Nov. Due
More News related to Corporate News
- ARGUS Downgrades Smith International (SII) to Hold
- Cantor Fitzgerald Downgrades Audiocodes (AUDC) to Hold After Negative 4Q Preannouncement
- MDB Capital Downgrades Ener1 (HEV) to Sell, Suspends Earnings Model and Valuation on Stock No Longer Justified
- DA Davidson Downgrades Ambassadors Group (EPAX) to Neutral
- SunTrust Downgrades Ruby Tuesday, Inc. (RT) to Neutral
The Shaw Group Inc. (NYSE: SGR) and Westinghouse Electric Company today announced they have signed a letter of intent to form a joint venture to fabricate and assemble structural and equipment modules for AP1000(TM) nuclear power plants to be built in the United States and selected global markets in which in-country supply is not available.
Under terms of the agreement, Westinghouse and Shaw will each hold ownership shares in the joint venture. Additional terms were not disclosed, although final negotiations are expected to be completed within two months.
The new company, Global Modular Solutions LLC, will construct a 600,000 sq. ft. facility in Lake Charles, La., that is scheduled to begin operation in the late summer of 2009. When fully operational, the facility is expected to employ as many as 1,400 workers.
The Shaw Group, Inc. offers engineering, technology, construction, fabrication, environmental, and industrial services to various companies worldwide.
Related Categories
Corporate NewsStocks Mentioned
+5.16Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
