AltaLink’s Parent Company Financial Status Worsens

SNC-Lavalin, caught up in allegations of bribery, improper payments, fraud and money laundering, posted a sharp drop in second quarter profits and cut its earnings forecast. Reuters reports SNC stock falling 5%, “That extends a slide of more than 60% since SNC first announced improper payments in February”. An international corruption investigation of the Montreal-based company is being conducted by the RCMP, World Bank and others.

SNC-Lavalin builds almost all of AltaLink’s transmission infrastructure in Alberta.

~ by RETA on August 4, 2012.

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