Natural resources: SNC-Lavalin dropped a division in South Africa

Ressources naturelles: SNC-Lavalin largue une division d’Afrique du Sud

SNC-Lavalin casts off the division linked to natural resources in South Africa because it no longer corresponds to its strategic directions.

The engineering firm, montreal-based account of the yield to those who direct it locally to the result of the approval in the coming weeks, regulatory authorities in south africa. Approximately 1800 employees who work primarily in the construction and maintenance of the websites are concerned.

“This sale is part of the strategy to become a company of professional services and project management leading and generate profits and cash flow steady,” said SNC-Lavalin’s press release.

In the framework of its reorganization as a result of poor financial results, the company was committed a year ago to significantly reduce its presence in the field of natural resources, particularly in oil and gas.

“The sale of the sector Resources in South Africa is another important step in this direction. We will provide another update of our plan regarding the activities of the sector Resources for the publication of our results for the second quarter”, stated Ian Edwards, president and chief executive officer of SNC-Lavalin.

In march, the company leaded by a business corruption, had put the key in the door of Valerus, a facility for the production and processing of oil and gas located in Houston.

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