11 February 2014 18:38 [Source: ICIS news]
TORONTO (ICIS)--Quebec regulator Autorite des marches financiers (AMF) has authorised Canadian energy, chemicals and infrastructure engineering major SNC-Lavalin to bid for public contracts, a company spokesperson confirmed on Tuesday.
SNC and other engineering firms were involved in a series of scandals. Montreal-based SNC, for its part, was enmeshed in alleged corruption in Quebec, Algeria, Libya and Bangladesh, forcing it to shake up management under a new CEO.
SNC spokeswoman Lilly Nguyen told ICIS that the company "made huge efforts over the last two years to implement an effective ethics and compliance framework".
"The authorisation by AMF to obtain public contracts in Quebec will surely have a positive impact on SNC-Lavalin," she added. She would not comment about specific sanctions taken against the company.
The World Bank last year barred an SNC subsidiary from bidding for 10 years.
In 2011, Quebec set up a commission to probe the engineering and construction industry. The investigation by the Charbonneau Commission is still ongoing.
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