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Monthly Archives: February 2019

SNC Lavalin CEO sick of being used as a ‘puck in a political hockey game’ 

MONTREAL- Amid an ongoing scandal that has rocked the Liberal government in Ottawa, the head of SNC-Lavalin Group Inc. said he’s tired of seeing his employees “used as a puck in a political hockey game.” “Frankly, they don’t deserve it. And we’ve had enough,” chief executive Neil Bruce said Friday ...

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SNC Lavalin Group slashes dividend 65%, reports $1.6B fourth quarter loss 

MONTREAL- SNC-Lavalin Group Inc. slashed its dividend by 65 per cent Friday as it reported a fourth-quarter loss of $1.6 billion. The troubled engineering and construction giant said it will now pay a quarterly dividend of 10 cents per share compared with its earlier payment of 28.7 cents per share. ...

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Quebec says former SNC Lavalin exec owes $11 million in back taxes 

By Giuseppe Valiante THE CANADIAN PRESS MONTREAL- Quebec’s Revenue Department is trying to seize the assets of a former SNC-Lavalin executive facing trial on fraud-related charges after estimating he owes the government more than $11 million in back taxes. A Feb. 18 court filing alleges Sami Bebawi did not disclose ...

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Indigenous Owned Company Wins Major Pipeline Construction Contract

CALGARY, Alberta, Feb. 20, 2019 — Steel River Group Inc. (“SRG” or the “Company”) announced today that its subsidiary, Steel River Solutions (“SRS”), was named as the Prime Contractor for “Spread B”, a 65 km section of Tidewater Midstream and Infrastructure’s (“TSE: TWM”) (“Tidewater”) 120 km Pioneer Natural Gas Pipeline ...

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Alberta government helping new methanol plant with $80M in royalty credits 

GRANDE PRAIRIE, Alta- Alberta is giving $80 million in future royalty credits for construction of a new methanol plant in the province’s northwest. Premier Rachel Notley says Nauticol Energy is to start construction on the $2-billion plant near Grande Prairie next year with an opening set for 2020. She says ...

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Wilson Raybould’s cabinet move due to departure from team: Trudeau

OTTAWA- Prime Minister Justin Trudeau says Jody Wilson-Raybould would still be the justice minister in his cabinet if it wasn’t for the resignation of former Treasury Board president Scott Brison. Trudeau, who made the remarks in Ottawa this morning, says Brison’s sudden decision to leave politics resulted in having to ...

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Quebec premier wants Ottawa to ‘settle’ with SNC Lavalin so firm avoids trial

Quebec Premier Francois Legault says he wants the federal government to settle with engineering firm SNC-Lavalin “as soon as possible” in order to protect jobs and the company’s corporate headquarters in Montreal. The embattled firm is vulnerable to a foreign takeover, Legault told reporters Thursday in Quebec City. And the ...

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Standard & Poor’s downgrades SNC Lavalin, citing charges and diplomatic feud

By Christopher Reynolds THE CANADIAN PRESS MONTREAL- The woes won’t stop piling up for SNC-Lavalin Group Inc. Debt rating agency Standard & Poor’s downgraded the company Tuesday, citing diplomatic tensions and criminal charges against the beleaguered engineering giant as among the financial headwinds buffeting a firm now swept up in ...

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