SPEA Launches SNCInsight.com to Pull Back the Curtain on SNC-Lavalin Activity

·2 min read

New tool will help employees and investors accurately assess SNC-Lavalin’s new strategic direction and adherence to ethical standards

MISSISSAUGA, Ontario, Jan. 24, 2022 (GLOBE NEWSWIRE) -- Today, the Society of Professional Engineers and Associates (SPEA) launches SNCInsight.com (https://www.sncinsight.com), a resource by and for employees and investors to track and understand what is happening at SNC-Lavalin and how it is measuring up to its new strategic direction and adherence to ethical standards essential to its success.

“We are pleased to announce this resource,” says Denise Coombs, SPEA Staff Representative. “Employees and investors are deeply vested in the company’s future success, and understand the value of independent, timely, and readily accessible information on SNC-Lavalin’s core business activities and its progress regarding its various monitoring and integrity agreements. SNCInsight.com provides just that. It’s a one-stop-shop for anyone concerned about the company.”

SNCInsight.com provides up-to-date information on Canada’s engineering giant to help investors assess the company’s ambitious turnaround following its settlement on fraud and corruption charges with Canada’s Federal Government in 2019.

SNCInsight.com provides unique information into the company to help investors and the public track SNC-Lavalin’s new strategic direction and adherence to ethical standards essential to its success, including:

  • SNC-Lavalin’s performance on major infrastructure projects as it transitions away from lump-sum turnkey contracts that have caused major losses for the company in the past

  • The company’s progress with respect to integrity monitoring programs

  • Daily reports on federal lobbying and procurement by SNC-Lavalin and major affiliates in the U.S. and Canada, supplementing the company’s lobbying and political contributions reports and improving transparency; and,

  • Key financial and performance metrics for SNC-Lavalin and selected peer companies.

For Ottawa City Councillor Catherine McKenney, who has called for a judicial inquiry into Ottawa's LRT project, SNCInsight.com provides a valuable resource.

“We are about to see a boom of infrastructure investments in Canadian cities, and it is essential we learn from past experiences to do right by our communities,” says McKenney. “A resource like SNCInsight.com is valuable for stakeholders’ pursuing transparency and accountability in public projects, particularly when large sums of public money are involved.”

SNCInsight.com is built to grow and evolve, with several data and analysis releases planned this spring.

About SPEA

The Society of Professional Engineers and Associates (SPEA) are the people powering Canada’s energy innovation. Formed in 1974, we are an independent union representing engineers, scientists, technicians, technologists, skilled tradespersons, designers, operations, and administrative staff employed by SNC-Lavalin. Collectively we represent the majority of Canada's nuclear power reactor design expertise.

For more information contact:
Michelle Duncan
SPEA External Relations
Telephone: +1 (416) 427-3525
Email: michelle.duncan@spea.ca

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