SNC-Lavalin’s Transformation: A Fresh Identity Emerges This Month

Canadian engineering and construction company SNC-Lavalin Group Inc. (TSE: SNC) is on the cusp of a significant rebranding this month slated for September 13 when the company will change its name to AtkinsRéalis since it faces an inflection point in its existence running over a century.

For 112 years, SNC-Lavalin has been synonymous with engineering excellence and infrastructure development, both in Canada and on the global stage. The company has undertaken a wide range of projects, from transportation infrastructure and energy facilities to complex urban developments.

However, for the last decade the company has grappled with turbulent times. The rebranding comes slightly 11 years after marked by trouble with the law, including the Libya corruption scandal that not only tarnished the company’s reputation but also had legal and financial repercussions for the firm.

The desire to move beyond this negative chapter in its history appears to be a driving force behind the rebrand. Changing the company’s name provides an opportunity to distance itself from the controversies and mark a fresh start.

The company’s CEO Ian Edwards, is looking forward to cut the costly backlog of big, over-budget rail contracts that has plagued SNC for years and launch expansion plans after a steady slim-down regimen.

According to the CEO, the name change also signifies an ‘inflection point’ for the company and offers a greater sense of belonging to the employees who work under its subsidiaries.

“Four years ago when I became the CEO, I think we were very transparent: We said there’s a part of the company which is excellent, performs really well; there’s parts of the company which don’t. We’re going to stop doing what’s not working, we’re going to do more of what working really well. From here it’s all about growth,” said the CEO.