In a statement this morning, Silverdell said: 鈥淭he board has taken the decision to accept an offer of circa 拢1m as final settlement from Shaw Group on its 18 month final account negotiation on Pembroke Power Station, a contract secured in 2010.鈥�
A one-off exceptional charge of 拢2.5m will be recorded in Silverdell鈥檚 first half results for 2013. Although underlying profit for 2013 will not be affected, net debt will be some 拢1m higher than previous expected as a result.
Shaw was taken over by Chicago Bridge last year for $3bn.
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