SNC-Lavalin: When Did the Moral Compass Break?By
As engineering giant SNC-Lavalin Group struggles to contain a growing scandal about its links to Libya’s Qaddafi family, it’s fascinating to consider the tipping points. Investors have long accepted the fact that SNC made good money under the Qaddafi regime—some 6 percent of sales, or C$440 million ($445 million), came from Libyan projects in 2010. That meant SNC’s decision in 2011 to suspend those projects amid the revolt that led to dictator Muammar Qaddafi’s death in October was bound to affect its bottom line.
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