MONTREAL, May 6, 2022
/CNW Telbec/ - SNC-Lavalin (TSX: SNC), a fully integrated
professional services and project management company with offices
around the world, announces reaching a remediation agreement with
respect to charges laid against SNC-Lavalin Inc. and SNC-Lavalin
International Inc. for events that occurred between 1997 and 2004
in connection with the Jacques Cartier Bridge Refurbishment
project. The financial components of the remediation agreement
provide for payments totalling $29,558,777 over a period of 3 years. The
remediation agreement is subject to approval by the Quebec Superior
Court, which will be sought at a hearing scheduled to begin on
May 10, 2022.
Contemporaneously with laying the charges, on September 23, 2021, the DPCP had invited
SNC-Lavalin Inc. and SNC-Lavalin International Inc. to negotiate a
remediation agreement regarding said charges.
As the Company is bound by confidentiality restrictions, it
cannot comment further on this matter until judicial procedures are
completed.
About SNC-Lavalin
Founded in 1911, SNC-Lavalin is a fully integrated
professional services and project management company with offices
around the world dedicated to engineering a better future for our
planet and its people. We create sustainable solutions that connect
people, data and technology to design, deliver and operate the most
complex projects. We deploy global capabilities locally to our
clients and deliver unique end-to-end services across the whole
life cycle of an asset including consulting, advisory &
environmental services, intelligent networks & cybersecurity,
design & engineering, procurement, project & construction
management, operations & maintenance, decommissioning and
capital. We deliver to clients in key strategic sectors such as
Engineering Services, Nuclear, Operations & Maintenance and
Capital. You can find relevant news and information
at snclavalin.com or follow us
on LinkedIn and Twitter.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements within the
meaning Canadian securities laws, including statements regarding
the Agreement and SNC-Lavalin's expectations regarding the
likelihood, terms, conditions and timing of the anticipated final
Agreement.
These statements involve substantial risks and uncertainties,
including, among others, risks and uncertainties associated with
negotiating final terms of the Agreement and obtaining court
approval of the Agreement, there can be no assurance that the
litigation will be finally resolved in accordance with the
Agreement or at all.
Any forward-looking statements are made only as of the date
hereof and the Company has no intention and undertakes no
obligation to update or revise any of them, except as required by
law.
SOURCE SNC-Lavalin