SNC-Lavalin announced Friday that it has reached a remediation agreement with Quebec’s Director of Criminal and Penal Prosecution (DPCP), in which it will pay a total of $ 29,558,777 over a three-year period.
The charges against SNC-Lavalin and SNC-Lavalin International relate to facts that occurred between 1997 and 2004, in connection with the Jacques-Cartier bridge deck repair project, between Montreal and Longueuil.
The lawsuits against the two companies were filed on Sept. 23, and negotiations for a remediation agreement began immediately.
The Royal Canadian Mounted Police (RCMP) on the same day arrested two former SNC-Lavalin executives, Normand Morin and Kamal Francis, former vice-presidents of SNC-Lavalin and SNC-Lavalin International respectively.
The charges follow the 2017 conviction of Michel Fournier, former president and CEO of the Federal Bridge Corporation. He admitted he received bribes from SNC-Lavalin worth $ 2.23 million in connection with the $ 128 million project to repair the Jacques-Cartier Bridge.
The remediation agreement will allow SNC-Lavalin to continue doing business with Quebec, Canadian and foreign governments, in addition to reducing negative consequences on employees, retirees, customers and shareholders of the organizations.
The agreement is subject to approval by the Superior Court of Quebec. The hearing on the matter will begin on Tuesday.
In a brief press release released after the markets closed, SNC-Lavalin said it could no longer comment further on the matter until legal proceedings were completed.
Source: Radio-Canada
