Raytheon to Take Added Charge on Power Project
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A problematic power plant project in Massachusetts will be delayed another month, forcing Raytheon Co. to take a $90-million second-quarter charge, the company said.
The Lexington, Mass., defense contractor, which was forced back into the construction business to complete two power plant projects after Washington Group International filed for bankruptcy protection, has taken charges related to the plants totaling more than $1.6 billion since 2001.
Raytheon shares fell 6 cents to close at $32.60 on the NYSE.
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