Stone & Webster Construction Inc. has agreed to pay $6.2 million to settle a multiyear federal probe into alleged improper recordkeeping of injuries and site safety under a $10-billion long-term contract with the Tennessee Valley Authority for modifications and maintenance work at nuclear plant sites in Tennessee and Alabama. The U.S. Justice Dept. announced the pact on Jan. 22 with Stone & Webster, a unit since 2000 of Baton Rouge-based The Shaw Group. Photo: TVA Stone & Webster understated injuries at TVA nuclear plants. The settlement also requires Stoughton, Mass.-based Stone & Webster to enter into a first-of-its-kind comprehensive two-year
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.