MONTREAL, Dec. 20, 2017 /CNW Telbec/ - SNC-Lavalin
(TSX: SNC) is pleased to announce that it has signed an agreement
to form a joint venture with ABB for the delivery of substation
projects globally at 66 Kv AC and above. Under the agreement,
SNC-Lavalin will be the majority shareholder. As part of its Clean
Power growth strategy, this joint venture will create a platform to
accelerate growth by combining SNC-Lavalin's strengths and
expertise in executing complex projects, including design,
engineering, and project management, with ABB's leading electrical
substation technology and world-class products.
This builds on SNC-Lavalin's new client-facing structure
announced in November, creating a Clean Power sector that will
incorporate activities in hydro, transmission & distribution,
renewables and energy storage.
"This joint venture is a strategic step to build our
capabilities in the full lifecycle of renewables, and positions us
well in all of our markets, particularly utilities, renewables and
transportation," said Marie-Claude
Dumas, President, Clean Power. "The innovative business
model will deliver a key differentiated offering across all
SNC-Lavalin's sectors, and will create value for our customers by
leveraging our combined world-renowned expertise, end-to-end
service offering and geographic presence."
The joint venture represents great development opportunities for
employees, and is expected to have a backlog in excess of
$700 million.
The joint venture is subject to closing conditions and is
expected to close in the second quarter of 2018.
About SNC-Lavalin
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
SOURCE SNC-Lavalin