SNC Lavalin ‘appalled and surprised’ as Codelco cancels $260m contract

Posted by Noah Zivitz

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SNC-Lavalin Group Inc. is blasting Codelco’s decision to pull the plug on a $260 million contract that was at the root of two recent profit warnings.

The embattled Canadian construction giant confirmed late Monday night that it had received official notice of the termination, saying it was “appalled and surprised” by the Chilean state-owned miner’s decision.

“We believe that this termination is unwarranted and in breach of good faith agreements reached by…Click here for full article.

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