SNC-Lavalin completes closing of the sale of its Scandinavian Engineering Services Business

MONTREAL, Aug. 31, 2023 /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 Denmark, Sweden and Norway – to SYSTRA Group, a France-based engineering and consulting group specialized in public transport and mobility solutions. 

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. 

"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 Ian L. Edwards, 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.

Proceeds from the sale will provide additional funds to accelerate the company's capital allocation priorities. 

About SNC-Lavalin
Founded in 1911, SNC-Lavalin is a fully integrated professional services and project management company with offices around the world dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, technology and data to design, deliver and operate the most complex projects. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital. – and delivered to clients in key strategic sectors such as Engineering Services, Nuclear, Operations & Maintenance and Capital. News and information are available at www.snclavalin.com or follow us on LinkedIn and Twitter. 

About SYSTRA
SYSTRA is one of the world's leading engineering and consultancy groups specialising in public transport and mobility solutions. For more than 65 years, the Group has been committed to helping cities and regions to contribute to their development by creating, improving and modernising their transport infrastructures. With its 9,500 employees (May 2023), the Group's mission is to make travel more fluid throughout the world in order to bring populations closer together and facilitate access to employment, education, care and leisure. Signature team for transport solutions, SYSTRA supports its partners and clients throughout the lifecycle of their projects. 

More information on systra.com or follow us on LinkedIn.

Forward-Looking Statements 

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SOURCE SNC-Lavalin