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

SNC-LAVALIN GROUP INC.

(SNC)
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SNC Lavalin : Announces New President of Infrastructure Projects

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08/25/2020 | 07:45am EDT

MONTREAL, Aug. 25, 2020 /CNW Telbec/ - SNC-Lavalin Group Inc. (TSX: SNC) is pleased to announce the appointment of Robert (Bob) E. Alger, former CEO of leading US transportation contractor, The Lane Construction Corporation, as President, Infrastructure Projects, effective immediately. 

Mr. Alger brings extensive experience in the US transportation and infrastructure sector, one of SNC-Lavalin's core markets, and key growth areas. During his 40-year tenure at The Lane Construction Corporation, including 18 years as President and CEO, Mr. Alger successfully delivered multiple $1-billion-plus mega projects as part of the company's successful expansion from a regional contractor in the American North-East to a nationwide provider. During his leadership, annual revenues increased six-fold to over US$2 billion.

As President of Infrastructure Projects, Mr. Alger will be responsible for continuing the successful run-down of the Company's LSTK projects, which are focused on several major Canadian transportation projects, and continuing to build SNC-Lavalin's pipeline of new business in the US. As part of that effort, he will be integral to the development and deployment of new contracting models that limit the risk associated with managing and delivering major projects.

"Bob brings a unique and highly valued skillset to SNC-Lavalin. He is at once a highly skilled engineer with a deep understanding of the full lifecycle of projects, and what makes them successful, and an accomplished senior executive who has built a successful business and knows the US market intimately," said Ian L. Edwards, President and CEO of SNC-Lavalin. "I look forward to working with Bob as we continue the transformation of SNC-Lavalin into a leading global engineering services firm. I would also like to thank Jonathan Wilkinson for his valuable contribution to our Infrastructure business and I wish him all the best as he moves on to a new role with another organization.''

About Robert E. Alger

Mr. Alger joined The Lane Construction Corporation in 1979 as a District Manager and was President and CEO from 2001 to 2019. He served as Chairman of The Lane Construction Corporation from July 2019 to June 2020.  A leader in the US construction industry, he is a founder member of the Construction Industry Ethics and Compliance Initiative (CIECI) and the Construction Industry Safety Initiative (CISI). He also served as Chairman of the Construction Industry Round Table (CIRT) and was President of the American Society of Civil Engineers (ASCE) Construction Institute. In 2013, he was awarded the Outstanding Project and Leadership (OPAL) Award from the American Society of Civil Engineers. Mr. Alger currently serves as Chairman for Lane Power and Energy Solutions, and Partner and Executive Board Member at EnREVO industries LLC.

About SNC-Lavalin

Founded in 1911, SNC-Lavalin is a fully integrated professional services and project management company with offices around the world. SNC-Lavalin connects people, technology and data to help shape and deliver world-leading concepts and projects, while offering comprehensive innovative solutions across the asset lifecycle. Our expertise is wide-ranging — consulting & advisory, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and sustaining capital – and delivered to clients in four strategic sectors: EDPM (engineering, design and project management), Infrastructure, Nuclear and Resources, supported by Capital. People. Drive. Results. www.snclavalin.com

SOURCE SNC-Lavalin

© Canada Newswire, source Canada Newswire English


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Financials
Sales 2020 8 277 M 6 319 M 6 319 M
Net income 2020 -46,0 M -35,1 M -35,1 M
Net Debt 2020 960 M 733 M 733 M
P/E ratio 2020 -35,3x
Yield 2020 0,37%
Capitalization 3 806 M 2 900 M 2 906 M
EV / Sales 2020 0,58x
EV / Sales 2021 0,50x
Nbr of Employees 46 490
Free-Float 100,0%
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Number of Analysts 14
Average target price 33,57 CAD
Last Close Price 21,68 CAD
Spread / Highest target 93,7%
Spread / Average Target 54,8%
Spread / Lowest Target 15,3%
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Managers
NameTitle
Ian L. Edwards President, Chief Executive Officer & Director
Bill L. Young Chairman
Jeffrey Allan Bell Chief Financial Officer
Steven Leon Newman Independent Director
Jean Raby Independent Director
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