SNC-Lavalin Stock Falls To Lowest In Decade

Severe drop comes as company faces endless scandals and announce shutting down of operations in 15 countries.

After falling over 13% on Thursday, SNC-Lavalin shares hit their lowest level in a decade.

The company was already reeling from repeated and seemingly endless scandals, with the latest being revelations that the company was able to get off scot-free despite an illegal donation scheme – the same kind of scheme that others have been jailed for.

In addition to the scandals, the company recently announced that they would be shutting down operations in 15 nations.

They also lost $17 million in Q1 of 2019.

Their stock fell to $4.48, a drop of 13.13% from the day before.

SNC-Lavalin CEO Neil Bruce said “We will stop bidding on certain projects, certainly within the mining area. We’re not going to continue to — in fact we have already stopped — bidding on pure lump-sum EPC (engineering, procurement and construction) projects.”

Of course, whatever problems SNC-Lavalin has, it’s almost certainly that the Trudeau Liberals will use our tax dollars to bail them out. After all, Justin Trudeau and his cronies have shown that SNC-Lavalin matters more to them than anything else in the country.

Spencer Fernando

Photo – YouTube

2
Share Your Thoughts

avatar
2 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
1 Comment authors
NancyW Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
NancyW
Guest
NancyW

So sad that Canada has allowed this corruption and it will continue as long as we do not stop it somehow. Brazil’s, Obrech?, engineering and construction company, now called OEC was just fined $3.5 bullion dollars and has put several of their Brazilian politicians and other countries politicians in prison, but we in Canada continue to pay and go in debt for SNC while our corrupt politicians protect themselves and this corrupt company (and other corrupt companies who also support LIEberal/ndp/green parties, one world supporters). We need to clean this up in Canada too, before it is too late. Vote… Read more »

NancyW
Guest
NancyW

Well I just read this morning in the LAHT that Brazil’s OEC engineering and construction firm was fined in Brazil $3.5 billion and many corrupt politicians went to prison for taking bribes in many countries but mainly Brazil to stop this kind of corruption, Brazilians are cheering their lawmakers for cleaning up this corruption, they hope – we need to do this in Canada too.