SNC-Lavalin Posts Big 4th-Qtr Loss

SNC Lavalin logo

CBJ — Montreal-based engineering firm SNC-Lavalin Group has reported a loss of $293 million for its fiscal fourth quarter.

The vast majority of the total loss can be directly attributed to a $280 million fine it agreed to pay after its construction subsidiary pleaded guilty to fraud for actions taken in Libya between 2001 and 2011.

Many changes have been made at the executive level with a promise to move in a new, fresh direction, free of any controversies.

@CanBizJournal

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