A Radio-Canada report says $1.5 million ended up in Swiss bank accounts of a former head of the Federal Bridge Corp. shortly after SNC-Lavalin was awarded a $127-million contract to refurbish a Montreal bridge.
SNC-Lavalin and a consortium partner have signed a US$754-million contract to build a large sulphuric acid plant and power station in Saudi Arabia, a development analysts expect to go over well with investors after a recent lull in big deals.
SNC-Lavalin swung to a $72.7-million loss in the third-quarter, just weeks after warning that its net income for the full year would drop dramatically due to money-losing legacy contracts, weak mining markets and a European restructuring charge.
SNC-Lavalin is looking to unlock some of the engineering giant's hidden value by selling a minority stake in AltaLink, it's second-largest infrastructure investment and one which owns more than half of Alberta's electricity transmission grid.
The RCMP has charged former SNC Lavalin senior executive Kevin Wallace with bribery of a foreign public official as part of its investigation into a contract for the construction of a bridge in Bangladesh.