MONTREAL SNC-Lavalin Group Inc. is restructuring its money-losing resources business with a plan to sell off or shut down the non-profitable parts and fold the remnants into its engineering services division.
The announcement Friday came alongside earnings that fell short of analysts’ expectations as the engineering giantlost $111.6 million in the second quarter compared to$2.12 billion a year earlier.
“The legacy resources projects business and associated lump-sum turnkey projects will be largely wound down and the projects complete by the end of 2020,” SNC-Lavalin said in a release Friday.
The company forecasts the business will be profitable next year.
The move, which wraps up a strategic review launched by CEO Ian Edwards when he …
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