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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Snc-Lavalin Group Inc    SNC   CA78460T1057

SNC-LAVALIN GROUP INC

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SNC Lavalin : JV affiliate CDI to enter into a multi-year contract with Holtec to decommission US nuclear power plant Franais

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04/17/2019 | 04:35am EDT

Comprehensive Decommissioning International, LLC (CDI), a joint venture company of SNC-Lavalin (TSX: SNC) and Holtec International, has agreed to enter into a Decommissioning General Contractor Agreement for another US nuclear decommissioning contract, expected to exceed CAD $1 billion.

Entergy Corp. (NYSE: ETR) has agreed to sell the subsidiaries that own Indian Point Units 1, 2, and 3, located in Buchanan, N.Y., to a Holtec International subsidiary for decommissioning. Under the terms of the Holtec and Entergy agreement, which is subject to regulatory approvals, Holtec will assume ownership of the site which includes the transfer of the licenses, spent fuel, and Nuclear Decommissioning Trusts (NDTs), for the three units. The transaction is targeted to close in the third quarter of 2021, after Unit 3 has been shut down and defueled. Holtec will seek to complete the decommissioning of the Indian Point site decades sooner than if Entergy continued to own the plant.

Subject to finalizing the terms of a Decommissioning General Contractor Agreement with Holtec, CDI would become responsible for performing the decommissioning of all three reactor units.

"This is a strong vote of confidence by Holtec in CDI's abilities in the decontamination and decommissioning business," said Sandy Taylor, President, Nuclear, SNC-Lavalin. "CDI has rapidly become a major player for prompt decommissioning in the US in what continues to be a fast growing market."

"We aim to bring a fleet approach to the decommissioning business and safely return the sites to community use on an accelerated timescale," added CDI President Kelly Trice. CDI was previously retained by Holtec in 2018 for the decommissioning and waste management of Entergy's Pilgrim and Palisades nuclear plants.

(c) Publishing Rights Reserved to Bahrain News Agency 2003 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (CAD)
Sales 2019 9 803 M
EBIT 2019 716 M
Net income 2019 785 M
Debt 2019 1 825 M
Yield 2019 1,50%
P/E ratio 2019 12,48
P/E ratio 2020 11,65
EV / Sales 2019 0,67x
EV / Sales 2020 0,61x
Capitalization 4 694 M
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Number of Analysts 12
Average target price 40,3  CAD
Spread / Average Target 51%
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Neil Alexander Bruce President, Chief Executive Officer & Director
Kevin G. Lynch Chairman
Ian Edwards Chief Operating Officer
Sylvain Girard Chief Financial Officer & Executive Vice President
Eric D. Siegel Independent Director
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