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Hwy. 407 shareholder sees huge gains (May 16, 2002)

MONTREAL, Que. -- The head of the SNC-Lavalin Group predicts the construction-engineering industry is going to be t...


MONTREAL, Que. — The head of the SNC-Lavalin Group predicts the construction-engineering industry is going to be thriving over the next few years, thanks in part to the sale of Hwy. 407.

Jacques Lamarre, chief executive of SNC-Lavalin, made the prediction yesterday at the engineering firm’s annual meeting.

He also reported first-quarter profits of $139 million, up from $6 million one year ago. That represents earnings of $2.79 per share. The majority of that increase was the result of the sale of Hwy. 407, which SNC held an interest in and helped build. SNC still owns about 16.8 per cent of the highway, compared to the 22.6 per cent it previously owned.


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