Jindal, Moret say no reason to panic over Shaw merger

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Posted: Jul 30, 2012 5:56 PM by Mike Steele
Updated: Jul 30, 2012 5:56 PM
Source: WBRZ

  Rating: 1.0 (2 votes)

Topics: Governor Bobby Jindal, Shaw, Stephen Moret

BATON ROUGE- Governor Bobby Jindal vows to work with CB&I after the company announced plans to merge with Baton Rouge based Shaw Group. Jindal says companies have invested billions of dollars in Louisiana over the past few years. He says the company may have decided to act now with the hopes of claiming some of that work.

Louisiana Economic Development Director Stephen Moret says CB&I is making a push to beef up its domestic workforce. Moret says the company has indicated it plans to run Shaw as a subsidiary, with the Shaw headquarters staying in Louisiana.

Shaw has previously turned down some incentives dealing with keeping its headquarters in Baton Rouge. Moret's staff say Shaw still qualifies for other incentives dealing with manpower and payroll.

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