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SNC-Lavalin acknowledges the charges relating to alleged events that took place nearly two decades ago and welcomes the Directeur des poursuites criminelles et pénales' (DPCP) invitation to negotiate a remediation agreement

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The Company has fully cooperated with authorities in their investigation

MONTREAL, Sept. 23, 2021 /CNW Telbec/ - SNC-Lavalin Group Inc. (TSX: SNC) stated that SNC-Lavalin Inc. and SNC-Lavalin international Inc. have been charged under the Criminal Code of Canada with offences that would have occurred from 1997 to 2004 including fraud against the government and conspiracy to commit fraud against the government in connection with the Jacques Cartier Bridge Refurbishment project, a $128 million contract of which SNC-Lavalin was a 50 percent consortium partner.

The Company welcomes the opportunity offered by the DPCP to negotiate a remediation agreement to resolve these charges. This is first time a Canadian company has received an invitation to negotiate such an agreement. SNC-Lavalin has always been and remains willing to reach a reasonable and fair solution that promotes accountability, while permitting the Company to continue to do business and protect the livelihood of its over 30,000 employees, clients, investors and other stakeholders.

The Company, which is today recognized for its robust integrity program and culture, takes seriously these charges relating to alleged events that took place two decades ago. The investigation of this matter has been disclosed in the Company's public filings and was facilitated by its own self-reporting. The Company has fully and voluntarily cooperated with the authorities.

''I want to emphasize that these charges stem from events that took place nearly 20 years ago, involving former employees who left the company years ago and who no longer have any involvement with our organization," stated Ian L. Edwards, President and CEO, SNC-Lavalin Group Inc. "We have said repeatedly that the past behaviour of a select group of former individual employees does not represent the values and ethical standards of SNC-Lavalin today. We have made great strides over the past decade. The SNC-Lavalin of today operates at the highest ethical standards and embraces a world-class integrity program, recognized by third parties, and culture established through a commitment to a common set of values".

"We see this as a further step to put the past behind us and allow the Company to focus on the future. Over the past 2 years, we have made great progress to strengthen the Company for a long-term sustainable future,'' added Mr. Edwards.

SNC-Lavalin is Committed to its World-Class Integrity Program

SNC-Lavalin's Integrity Program aims to prevent, detect and respond to the risk of wrongdoing. It aligns and complies with the principles of international organizations such as Transparency International, the Organisation for Economic Co-operation and Development, the United Nations Global Compact and the World Bank, as well as the U.S. Department of Justice Resource Guide to the U.S Foreign Corrupt Practices Act.

An Integrity Program Recognized by Independent Third Parties

  • In 2021, the World Bank Group has granted an early lifting of all sanctions previously imposed in 2013 for a period for a period of 10 years. The decision, which followed a rigorous assessment and monitoring process by World Bank authorities and the independent monitor, confirmed that SNC-Lavalin met all the settlement agreement's terms and conditions.

  • The Ethisphere Institute, a global leader in defining and raising the standards of ethical business practices, also announced in January 2021 that SNC-Lavalin had earned the coveted Compliance Leader Verification for 2021-2022, extending the earlier 2019-2020 verification.

The Company also continues to collaborate with an independent monitor as part of the 2019 settlement of federal charges related to activities that occurred 10 to 20 years ago. The independent monitor is responsible for reporting on the Company's Integrity Program until December 2022. A summary of each report is published on SNC-Lavalin's website and each recommendation is given special attention to optimize the current Integrity Program.

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 three strategic sectors: EDPM (engineering, design and project management), Infrastructure and Nuclear, supported by Capital. People. Drive. Results. News and information are available at www.snclavalin.com or follow us on Twitter @SNCLavalin.

SOURCE SNC-Lavalin

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View original content: http://www.newswire.ca/en/releases/archive/September2021/23/c7465.html

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