Shaw buys Washington Group's petrochemical-technology unit

A former Raytheon Co. unit in Cambridge was bought by Shaw Group, a power-plant and oil-refinery builder based in Baton Rouge, La., for $17.7 million. Shaw Group said it bought Washington Group International Inc.'s petrochemical-technology unit to boost its technology-licensing sales. The unit reportedly employs about 160 people in Cambridge, where its labs develop technology for petrochemicals and refining oil. Washington Group bought Raytheon's Engineers & Constructors unit in July 2000 and filed for Chapter 11 protection in May 2001, blaming cost overruns. It completed its Chapter 11 reorganization in January 2002. Washington Group has been divesting units that are not essential to its engineering and construction business since.