Company News

BUZZ-SNC-Lavalin: Gains after winning 1.5 bln pound network rail contract

** Shares of Canadian construction firm up ~3% at C$26.27 after co wins Network Rail contract

** Co says its Atkins business unit won a 1.5 bln pound-contract to design track upgrades across London North West, London North East and East Midland routes for the next decade

** Says upgrade work is due to commence in August and is worth up to C$500 mln in rev to co

** Atkins will perform upgrade work with Balfour Beatty and TSO as part of the Central Rail Systems Alliance

** Also says Atkins recently secured a place on Network Rails’ Signalling and Telecoms framework to deliver projects that have expected value of ~C$295 mln to co

** Including Monday’s gains, stock down ~43% this year (Reporting by Nishara Karuvalli Pathikkal)