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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 : Atkins forms partnership with AI start up to explore new data driven contracting models for major project delivery

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08/06/2020 | 10:26am EDT

Atkins a member of the SNC-Lavalin Group has formed a partnership with Artificial Intelligence technology start up nPlan to explore new contracting models driven by technology and data which could transform major project delivery across the industry.

The work which will be supported through funding from Innovate UK - brings together Atkins' extensive project delivery experience and nPlan's cutting edge machine learning technology to identify and assess a new approach to contracting that focuses on collaboration, and changes the way risk is measured, shared and managed across major infrastructure programmes.

nPlan machine learning technology uses multiple techniques to learn how projects perform. At a high level, the algorithm learns by comparing the individual activities in a baseline schedule to activities in an actualised schedule. This process is repeated hundreds of millions of times building out a knowledge base of project performance which will allow for impartial and collective forecasting, increased transparency between project partners and a shared, improved view of project risk.

The team will work alongside asset owners such as Heathrow Airport to analyse the current contracting models before developing and piloting data and technology driven alternatives over the next 12 months. The research which forms part of Atkins' ongoing focus and investment into digital solutions that have the potential to transform infrastructure delivery will also identify how technology can support initiatives, such as the Institute of Civil Engineer'sProject 13 and proposed reinventions of New Engineering Contracts. Findings will be shared in autumn 2021 and published in an open industry report.

Richard Robinson, Atkins UK & Europe CEO, said: 'The industry has historically been slow to adopt new technology, in part due to the risk and rewards mechanisms of its contracting models.

'As such, there needs to be a step-change if we're going to unlock and encourage innovation which can serve to increase the predictability of project performance and deliver whole-life value to ensure better returns on investment for our clients.'

Dev Amratia, CEO at nPlan, said: 'Atkins and the wider SNC-Lavalin group were one of our earliest backers and we've worked together for almost two years now.

'We're excited to partner with an immensely talented team to investigate how powerful machine learning and artificial intelligence algorithms can be applied to help solve some of the industry's long-standing problems.'

Jon Kerbey, Digital Director at Heathrow, said: 'Accelerating and broadening the learning and feedback process on project performance through the use of artificial intelligence has the potential to transform the way in which we procure, plan and deliver projects. We are delighted to be working with Atkins and nPlan on this innovative initiative.'

Contact:

Richard Seston

Tel: +44 1332 22 5660

Email: Richard.Seston@atkinsglobal.com

About Atkins

Atkins (www.atkinsglobal.com) is one of the world's most respected design, engineering and project management consultancies, employing over 18,300 people across the UK, North America, Middle East and Africa, Asia Pacific and Europe. We build long-term trusted partnerships to create a world where lives are enriched through the implementation of our ideas.

About nPlan

nPlan is an award winning SME, founded in 2017, which currently employs 20 full-time staff members. They work with contractors, owners, and government agencies worldwide, providing machine learning derived insights to solve the problem of consistently and critically delayed projects in the construction industry.

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.

(C) 2020 Electronic News Publishing, source ENP Newswire


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Financials
Sales 2020 8 277 M 6 291 M 6 291 M
Net income 2020 -46,0 M -35,0 M -35,0 M
Net Debt 2020 960 M 730 M 730 M
P/E ratio 2020 -35,0x
Yield 2020 0,37%
Capitalization 3 771 M 2 871 M 2 866 M
EV / Sales 2020 0,57x
EV / Sales 2021 0,50x
Nbr of Employees 46 490
Free-Float 100,0%
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Average target price 33,57 CAD
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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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