SNC Lavalin executives exit company
13 February 2012
Two senior executives have left SNC Lavalin as the Canadian contractor continues to face questions about the conduct of its employees in Libya.
SNC Lavalin said executive vice president Riadh Ben Aïssa, who oversaw operations in Libya, and vice president controller Stéphane Roy were no longer with the company.
"Questions regarding the conduct of SNC Lavalin employees have recently been the focus of public attention. SNC Lavalin reiterates that all employees must comply with our code of ethics and business conduct," the company said.
News reports have linked the executives to an alleged plot to smuggle Saadi Gaddafi, a son of the former Libyan dictator Moammar Gaddafi, into Mexico in the wake of the uprising in Libya last year.
The upheaval in Libya, where SNC Lavalin has major contracts, impacted its results in 2011 after the company had to suspend its projects and evacuate employees.
In the first quarter, operating income at its infrastructure & environment division fell by -86% year-on-year to CA$ 6.1 million (US$ 6.3 million) as a result of the unrest in the North African country.
Libyan projects accounted for about 7% of the backlog when the armed rebellion against Gadhafi's regime broke out last year, and revenues from Libya totalled US$ 418.2 million in 2010.
