SNC SNC Lavalin Group Inc

MONTREAL, July 21, 2011 /CNW/ -- MONTREAL, July 21, 2011 /CNW Telbec/ - SNC-Lavalin (TSX: SNC) is pleased with the Quebec Superior Court's decision this morning to authorize the sale of the Davie Yards assets to Upper Lakes Group (ULG). This authorization has enabled the joint venture composed of SNC-Lavalin, ULG and Daewoo Shipbuilding and Marine Engineering (DSME) to submit qualifying documents under the National Shipbuilding Procurement Strategy (NSPS) office prior to today's deadline. "We are very happy that the transaction can be completed since now SNC-Lavalin can support ULG in putting the Davie Yards back into operation, which will provide positive economic spinoffs not only in the region but elsewhere in Canada as well," stated Pierre Duhaime, President and CEO of SNC-Lavalin Group Inc. "With our expertise in the field and the quality of the partners involved, we are confident to be in a good position to qualify for the $35 billion in federal shipbuilding contracts." "SNC-Lavalin would also like to acknowledge the Quebec government's efforts in closing this deal, which will enable us to seize this opportunity to win federal contracts, in an extremely tight timeframe," added Mr. Duhaime. The decision regarding the shipyards that will qualify under the NSPS is expected in the fall. SNC-Lavalin is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure, and in the provision of operations and maintenance services. SNC-Lavalin has offices across Canada and in over 35 other countries around the world, and is currently working in some 100 countries. In business since 1911, the Company celebrates its 100(th) anniversary in 2011. www.snclavalin.com. To view this news release in HTML formatting, please use the following URL: http://www.cnw.ca/en/releases/archive/July2011/21/c6860.html table border="0" cellspacing="0" valign="top" tr valign="top" td align="left" valign="top" Media: /td td align="left" Investors: /td /tr tr valign="top" td align="left" valign="top" Leslie Quintonbr/ Vice-President, Global Corporate Communications br/ SNC-Lavalin Group Inc.br/ 514-393-8000, ext. 7354br/ a href="mailto:leslie.quinton@snclavalin.com"leslie.quinton@snclavalin.com/a /td td align="left" valign="top" Denis Jasminbr/ Vice-President, Investor Relationsbr/ SNC-Lavalin Group Inc.br/ 514-393-8000, ext. 7553br/ a href="mailto:denis.jasmin@snclavalin.com"denis.jasmin@snclavalin.com/a /td /tr /table p   /p

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