Shaw gets loan waiver of deadline to provide Westinghouse financials

By Sara Rosenberg

New York, Jan. 18 - The Shaw Group Inc. received a waiver from its bank group regarding Thursday's deadline to file audited financial statements for the recently acquired Westinghouse Electric Co., according to an 8-K report filed with the Securities and Exchange Commission.

The delay in providing Westinghouse's financial statements for the fiscal years ended March 31, 2006 and 2005 is a result of difficulties in completing the conversion of U.K. GAAP to U.S. GAAP.

The waiver gives the company 60 days to provide the financial statements.

BNP Paribas is the administrative agent on the deal.

Shaw is a Baton Rouge, La.-based provider of engineering, procurement, construction, technology, maintenance, fabrication, manufacturing, consulting, remediation and facilities management services for clients in the energy, chemical, environmental, infrastructure and emergency response markets.

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