MONTREAL SNC-Lavalin is selling its South African resources business as part of its corporate restructuring.
MONTREAL SNC-Lavalin is selling its South African resources business as part of its corporate restructuring.
The Montreal-based engineering and construction firm says it has entered into an agreement to sell the business to local management for an undisclosed price.
The South African business has around 1,800 employees and primarily services construction and site maintenance clients
SNC-Lavalin is exiting the resources business as it focuses onprofessional services and project management which generateconsistent earnings and cash flow.
In March, it closed Valerus,a non-core, mid-stream oil and gas production and processing facil…
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