June 5, 2012 / 3:18 PM / in 6 years

SNC-Lavalin buys Ontario engineering firm

(Reuters) - SNC-Lavalin Group Inc (SNC.TO), a Canadian construction company, said it bought DBA Engineering to expand its presence in Ontario.

DBA Engineering specializes in materials and pavement engineering and geotechnical and geo-environmental studies, SNC-Lavalin said in a statement.

SNC-Lavalin, which is caught up in allegations of bribery and improper payments, did not disclose the terms of the deal.

“DBA will also provide an additional source of expertise and enhance our service offering for major projects that we are carrying out or are targeting across Ontario,” said Charles Chebl, executive vice president, SNC-Lavalin.

SNC-Lavalin shares, which have lost 27 percent of their value over the last six months, were up 1 percent at C$37.44 on Tuesday on the Toronto Stock Exchange.

Reporting by Maneesha Tiwari in Bangalore; Editing by Sreejiraj Eluvangal

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below