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Share Name | Share Symbol | Market | Type |
---|---|---|---|
SNC Lavalin Group Inc | TSX:SNC | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 43.49 | 43.31 | 43.57 | 0 | 01:00:00 |
MONTREAL, May 26, 2016 /CNW Telbec/ - After a process in which SNC-Lavalin (TSX: SNC) has participated and collaborated, the Ordre des ingénieurs du Québec (OIQ) announced today that a settlement agreement was concluded with a group of 107 engineers and former engineers of SNC-Lavalin and its subsidiaries. They were targeted by investigations opened by the Office of the Syndic of the OIQ in connection with political contributions made between 1998 and 2010. As provided in the agreement, an amount was paid to the OIQ by this group of engineers, as an amount "in lieu of a fine". As stipulated by the Professional Code, these settlements are confidential.
"We are pleased that this settlement was concluded", stated Neil Bruce, President and CEO. "This agreement demonstrates, as the company frequently said, that SNC-Lavalin has always been and remains willing to enter into agreements about past issues."
SNC-Lavalin continues to work closely with its stakeholders to ensure its business is conducted ethically. The company is determined to set a new standard of ethics and governance in the engineering and construction sector.
In 2012, SNC-Lavalin put in place its Policy on political contributions. Here are the main points:
SNC-Lavalin has significantly toughened its ethics and compliance program over the past few years. Its measures include:
The company's ethics and compliance program, which is based on international best practices, is divided into three categories: prevent, detect and respond. The three categories consist of actions to help ensure the company meets its commitment to ethics and compliance. The list can be found here: http://www.snclavalin.com/en/ethics-compliance/ethics-compliance-faq.aspx.
About SNC-Lavalin
Founded in 1911, SNC-Lavalin is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure. From offices in over 50 countries, SNC-Lavalin's employees are proud to build what matters. Our teams provide engineering, procurement, construction, completions and commissioning services together with a range of sustaining capital services to clients in four industry sectors, oil and gas, mining and metallurgy, infrastructure and power. SNC-Lavalin can also combine these services with its financing and operations and maintenance capabilities to provide complete end-to-end project solutions. www.snclavalin.com
SOURCE SNC-Lavalin
Copyright 2016 Canada NewsWire
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