Canada’s Biggest Builder Faces ‘New Level of Risk’ in Saudi Feud
- SNC’s largest acquisitions added to business in the kingdom
- Diplomatic spat threatens important source of future growth
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Canada’s diplomatic clash with Saudi Arabia is threatening a key pillar of SNC-Lavalin Group Inc.’s growth plan.
The Montreal-based builder gained additional exposure to the kingdom with its two biggest acquisitions, the 2014 purchase of Ireland’s Kentz Corp. and last year’s deal for WS Atkins of the U.K. SNC Chief Executive Officer Neil Bruce is counting on business in the Middle East to bolster his drive to increase profit more than 50 percent by 2020.