Monday, July 22, 2019

SNC-Lavalin Group - SNC.t

SNC-Lavalin Group - SNC.t is a global fully integrated professional services and project management company and a major player in the ownership of infrastructure.

The Montreal-based company provides engineering, procurement and construction and engineering, and construction management services in a variety of industry sectors, including mining and metallurgy, oil and gas, environment and water, infrastructure and clean power.
On July 22, 2019 the company released News

"The company will be taking an additional non-cash, pretax, goodwill impairment charge and an intangible assets impairment charge relating to the company's O&G business, specifically Kentz, totalling approximately $1.9-billion. This non-cash charge is largely attributable to the company's decision to cease bidding on LSTK projects, as well as lower than expected performance by resources in the first half of the year. Given today's announcements, the company is withdrawing all previously issued annual financial guidance for 2019."