Raytheon to take charge to finish projects

LEXINGTON — Raytheon Co. announced it would take a charge of between $275 million
and $325 million in the first quarter to cover the cost of completing two Massachusetts
power plants that it had promised to complete. Washington Group International
of Idaho was supposed to finish the projects in Weymouth and Everett after buying
Raytheon’s Engineers and Constructors unit last year but that company has since
defaulted on bank loans, stopped work on the plants and sued in Idaho accusing
Raytheon of fraud in estimating the costs of completing the two plants.