SNC-Lavalin (TSX: SNC) is very pleased to announce that, thanks to a mediation process, agreed by both parties and entered into earlier in 2017, it has signed an out of court agreement with the McGill University Health Centre (MUHC).
The agreement, whose details the parties have decided will remain confidential, is a full and final settlement of all the disputes contemplated by the agreement.
The McGill Healthcare Infrastructure Group (MHIG), a general partnership formed by SNC-Lavalin and Innisfree, is responsible for managing the hospital centre's assets and ensuring its upkeep until September 30, 2044.
The MHIG and MUHC will continue to do what they have always done: to work closely to deliver quality maintenance and asset management services to ensure users' well-being.
Founded in 1911, SNC-Lavalin is a global fully integrated professional services and project management company and a major player in the ownership of infrastructure. From offices around the world, SNC-Lavalin's employees are proud to build what matters. Our teams provide comprehensive end-to-end project solutions – including capital investment, consulting, design, engineering, construction, sustaining capital and operations and maintenance – to clients in oil and gas, mining and metallurgy, infrastructure and power. On July 3, 2017, SNC-Lavalin acquired Atkins, one of the world’s most respected design, engineering and project management consultancies. www.snclavalin.com