June 2011 Vol. 238 No. 6

Projects

Willbros Settles Contract Dispute with TransCanada

Willbros Group, Inc. announced June 27 that it had reached full and final agreement with TransCanada on the amount due to its U.S. construction subsidiary under a cost reimbursable target price construction contract for seven pump stations in Nebraska and Kansas. Willbros will receive $61 million in cash as payment for its outstanding receivables of $71.2 million, which were disputed by TransCanada. Willbros has agreed to waive all claims for additional fees and change orders. TransCanada agreed to relieve Willbros of any further liability with respect to the contract and to restore Willbros to its bid list for future work. Willbros noted that it will incur a non-cash charge i

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