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NewsAlert: SNC-Lavalin books $2B charge, warns on forecast, announces reorganization

The headquarters of SNC Lavalin is seen Thursday, November 6, 2014 in Montreal. THE CANADIAN PRESS/Paul Chiasson

MONTREAL — SNC-Lavalin Group Inc. warns its 2019 results could be significantly lower than anticipated, largely due to cost overruns at some construction projects and says it will undergo a reorganization to exit or section off its poorer performing segments.

The Montreal-based engineering giant is withdrawing all previous financial guidance for 2019 and will book an additional $1.9 billion in impairment charges.

More coming.

 

The Canadian Press