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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, Sept. 8, 2016 /CNW Telbec/ - SNC-Lavalin (TSX: SNC) announced today that it has reached a compliance agreement with the Commissioner of Canada Elections (the "Commissioner") in relation with an investigation by the Commissioner regarding the reimbursement, to people associated with the company, of contributions made to federal political entities between 2004 and 2011.
To conclude this agreement, the Commissioner took into consideration the following factors, among others:
"I am pleased that this agreement was reached. It once again shows our desire and commitment to resolve past issues," said Neil Bruce, President and CEO. "Our cooperation with the Commissioner reflects the efforts and progress we have made in terms of ethics and compliance since 2012, which our clients and partners now recognize."
The company's Political Contributions Policy notably states that:
In February 2014, the Autorité des marchés financiers (AMF) granted SNC-Lavalin the authorization to contract with Quebec organizations.
In December 2015, SNC-Lavalin signed an administrative agreement with Public Services and Procurement Canada under the federal government's new Integrity Regime. The administrative agreement allows companies charged under federal laws to continue to contract with or supply the Government of Canada.
Furthermore, in May 2016, the company announced its participation in the Government of Quebec's Voluntary Reimbursement Program as well as the settlement of the investigation from the Office of the Syndic of the Order of Engineers of Quebec (OIQ) in connection with political contributions made between 1998 and 2010.
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. Working from offices in over 50 countries, SNC-Lavalin's employees are proud to build what matters. Our teams provide engineering, procurement and construction (EPC) and engineering, procurement and construction management (EPCM) services to clients in various sectors, including oil and gas, mining and metallurgy, infrastructure and power. SNC‑Lavalin also handles financing, operations and maintenance for complete, end-to-end project solutions. www.snclavalin.com
SOURCE SNC-Lavalin
Copyright 2016 Canada NewsWire
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