SNC-LAVALIN TO TAKE TOTAL OWNERSHIP OF CANATOM NPM INC .
SNC-Lavalin Inc. is pleased to announce that it has signed an agreement to acquire all remaining shares of Canatom NPM Inc. held by AECON Construction Group Inc., and will become the sole owner of the Toronto company.
“This acquisition will allow us to further maximise opportunities in the nuclear field based on the combined technical strengths of our Canatom employees with those of SNC-Lavalin employees,” said Klaus Triendl, Executive Vice-President, SNC-Lavalin Group Inc. “It will send a clear message to our Ontario clients, and those in the rest of Canada and worldwide, that we are committed to servicing the industry.”
SNC-Lavalin is currently the majority shareholder in Canatom, holding 61.25% of its shares. Aecon holds 38.75%.
Canatom has served the nuclear industry for 40 years in Canada, on projects associated with the Pickering, Darlington and Bruce facilities in Ontario, Point Lepreau in New Brunswick, and internationally, on the Qinshan Nuclear Power Plants units 1 & 2 in China, and on some of the Wolsong Nuclear Generating Stations in South Korea – to name just a few.
“We are pleased with this new 100% ownership by SNC-Lavalin,” said Patrick Lamarre, President of Canatom, “it will strengthen our position as a single source service provider to the nuclear industry, with specialisation in carrying out major projects and arranging project financing.”
Canatom was formed in 1967 and is the largest private sector nuclear engineering company in Canada. It offers a complete range of services in accordance with recognized national and international quality and nuclear standards in project, supply and construction management, design engineering, operating plant support and the management and decommissioning of radioactive materials.
SNC-Lavalin (TSX:SNC) is one of the leading groups of engineering and construction companies in the world, and a key player in facilities and operations management, and in the ownership, operation and maintenance of infrastructure. The SNC-Lavalin companies employ nearly 15,000 people in offices across Canada and in 30 other countries around the world and are currently working in some 100 countries.
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Media ContactGillian MacCormack
Vice-President, Global Public Relations
SNC-Lavalin Group Inc.
Vice-President, Investor Relations
SNC-Lavalin Group Inc.