Business
SNC-Lavalin completes closing of the sale of its Scandinavian Engineering Services Business
SNC-Lavalin completes closing of the sale of its Scandinavian Engineering Services Business ...
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[{"type":"text","content":"\n \n \n \n SNC-Lavalin completes closing of the sale of its Scandinavian Engineering Services Business\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; FONT-SIZE: 8PT; FONT-FAMILY: ARIAL; COLOR: BLACK; MARGIN:0em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n MONTREAL\n \n \n ,\n \n \n Aug. 31, 2023\n \n \n /CNW/ - SNC-Lavalin (TSX: SNC), a fully integrated professional services and project management company with offices around the world, today announces that it has completed the closing of the sale of its Scandinavian Engineering Services business. SNC-Lavalin previously announced that it had entered into a binding agreement to sell its Scandinavian Engineering Services business – comprising\n \n Denmark\n \n ,\n \n Sweden\n \n and\n \n Norway\n \n – to SYSTRA Group, a\n \n France\n \n -based engineering and consulting group specialized in public transport and mobility solutions.\n \n \n The sale represents another step forward in the company's strategy to reduce its risk profile, drive consistent profitable growth, and accelerate its ongoing transition to becoming a premier professional services and project management company.\n \n \n \"The closing of the sale further optimizes our portfolio of activities and ensures that we can be fully focused on the areas of our business with the highest value-creation potential,\" said\n \n Ian L. Edwards\n \n , President and CEO of SNC-Lavalin. \"I would like to thank all the Scandinavian Engineering Services employees for their dedication and hard work over the years, and wish them every success with SYSTRA,'' added Mr. Edwards.\n \n \n Proceeds from the sale will provide additional funds to accelerate the company's capital allocation priorities.\n \n \n \n \n About SNC-Lavalin\n \n \n \n \n Founded in 1911, SNC-Lavalin is a ...