SNC-Lavalin (TSX: SNC) has received a notice of termination for convenience from its client related to a fixed-price EPC contract it was awarded in November 2011 for a froth treatment plant in Fort McMurray, Alberta. The notice is effective immediately.
This project will be debooked from the Company’s backlog in the fourth quarter 2012. The Company does not currently anticipate that this termination will have a material impact on its fourth quarter earnings.
SNC-Lavalin is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure, and in the provision of operations and maintenance services. Founded in 1911, SNC-Lavalin has offices across Canada and in over 40 other countries around the world, and is currently working in some 100 countries. www.snclavalin.com.