McDermott International completes asbestos settlement

01/8/2007 |

Houston-based engineering and construction firm McDermott International says it has completed its financial obligations to fund an asbestos trust as part of a settlement with The Babcock & Wilcox Co. McDermott paid the $355 million contingent payment on Dec. 21 and earlier in the month, it retired the $250 million contingent promissory note from B&W's credit facility.

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