MIRA
INFORM REPORT
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Report Date : |
25th
January, 2007 |
IDENTIFICATION DETAILS
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Name : |
SNC-LAVALIN INC. |
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Registered Office : |
455 Boulevard René-Lévesque Ouest, |
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Country : |
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Date of Incorporation : |
01.01.1993 |
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Legal Form : |
Federally Chartered Corp. - Private |
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Line of Business : |
The Company provides engineering,
procurement, construction, and project management services to clients in the
power, environmental, industrial, and general engineering markets. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE
SUMMARY
Company Name : SNC-LAVALIN INC.
Address : 455 BOULEVARD RENÉ-LÉVESQUE OUEST
City :
State/Province :
Zip Code : H2Z 1Z3
Country :
Telephone : 514 393-1000
Facsimile : 514 866-0795
Legal Form : Federally Chartered Corp. - Private
Website : www.snc-lavalin.com (pare
rating Opinion : up to $100,000
Founded (D/M/Y) : / /1967
As of :
Sales / Revenue :
Net Income :
Total Equity :
Number of Employees : 4,200
Business Activity:
The Company provides engineering, procurement, construction, and project management services to clients in the power, environmental, industrial, and general engineering markets.
NOTE TO CLIENT
Person Contacted: Mr. Alain Perron, Accounting Manager.
SPECIAL QUESTIONS:
The Firm's Financial Statements are consolidated into the Parent Company's Financials which are displayed in the shareholder section. The Firm is considered financially stable.
Amount Requested: 200,000
The amounts requested and advised are expressed in: EUR
LEGAL
Legal Form : Federally Chartered Corp. - Private
Since (D/M/Y) : 01/01/1993
State/Province of Incorporation :
Status : ACTIVE
Previous Legal Form:
Company is NOT required to publish an annual financial report.
The Firm is incorporated in
Status : Active
Corporation #2879590
BN #134298132RC0001
Corporation Name(s): SNC-LAVALIN INC.
Mailing Address:
455 BOULEVARD RENÉ-LÉVESQUE OUEST
Filing Date: 01/01/1993
Managers/Key Personnel
Mr. Antoni Rustin Executive Vice President
Mr. Gilles Laramée Vice President - Finance
Mr. Jacques Lamarre President & CEO
Mr. Alain Perron Accounts Manager
Parent Companies
Parent Company : SNC-LAVALIN GROUP INC.
455 Ren‚ Levesque West 15th Floor
SNC-LAVALIN
GROUP INC's financial firgures for Fiscal Year end 12/31/2005:
(in
Thousand of CAD)
Net Assets: $ 4,026,461
Net Liabilities: 3,236,754
Net Equity: 789,707
Net Sales: 3,787,809
Net Income: 129,912
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SNC-LAVALIN
GROUP INC is traded on the
As of 23 Jan 2007:
Rolling 52 Week High: 33.500
Rolling 52 Week Low: 25.153
Quoted Market Value: 4,984,067,319
# of Shares Outstanding: 151,032,343
The
Firm has numerous subsidiaries, we have selected a few for your review:
Ø SNC LAVALIN INTERNATIONAL INC.
Ø SECURIPLEX, INC.
Ø SNC-LAVALIN ENVIRONMENT INC.
Ø SNC-LAVALIN PHARMA INC.
Ø CANATOM NPM INC.
Ø EXPRO TECHNOLOGIES INC.
Ø NEXACOR REALTY MANAGEMENT INC.
Ø SNC TECHNOLOGIES INC.
Ø SNC-LAVALIN AMERICA, INC.
Ø SNC TECHNOLOGIES CORP.
Ø
SNC-LAVALIN
Ø PINGAT INGENIERIE S.A.
Ø SNC-LAVALIN EUROPE LIMITED
Ø SNC-LAVALIN DO BRASIL LTDA.
Ø SNC-LAVALIN CHILE S.A.
Ø SNC-LAVALIN PERU S.A.
Ø
SOCODEC
Ø ENGINEERING S.A./N.V.
Ø SNC-LAVALIN DEFENCE PROGRAMS INC.
Ø ENGINEERING S.A./N.V.
BANKS
ROYAL BANK OF
1 PLACE VILLE MARIE
Telephone : 514 874-2110
Facsimile : 514 874-5915
Account Number :
Account Manager :
Mr. Perron declined to provide authorization of a banking reference.
PAYMENT HISTORY
Supplier's
Name/Industry Terms Amount/Pay
Habits/Comments
Rptd
Open Credit Credit
High Total Current
Past Due/Pay Period
Date
Date Limit Limit Dt. Credit Owing
$ 1st 2nd
3rd
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Whlsl-Ind Mach Sppls:
*Jan 0 701 701
0 405 0
296
DICOM EXPRESS INC.: 514-636-8033
*Jan 0 103 103
0 0 103
0
Services-Employment:
*Jan 0 8,561 8,561
8,561 0 0
0
GENERAL MOTORS CORP: DLA-2006/12/08 1,696, Merged accts #
*Jan Apr/2006 0 61,648 41,692
41,692 0 0
0
VW CR: 514-332-4333 DLA-2006/11/21
869, Net 30 Days #
*Jan Sep/2006
0 31,280 27,804
27,804 0 0
0
Whlsl-Ind Mach Sppls:
*Jan 0 17,199 17,199
2,385 14,814 0
0
PETRO CANADA INC: 905-469-3771
*Jan 0 19,407 19,407
19,407 0 0
0
Cntr-Plmbng-Heat-Air:
*Jan 0 1,388 1,388
1,388 0 0
0
Whlsl-Plumbing/Heatg:
*Jan 0 323 323
323 0 0
0
Retail-Establishment: Merged accts
*Jan 0 50,000 14,602
14,556 2 4
40
Mfr-Air Conditioning:
*Jan 0 4,187 4,187
471 3,716 0
0
CITI COMMERCE SOLUTI: 800-233-8619 DLA-2006/03/08 342 #
*Jan Nov/1993
5,000 854 780
342 438 0
0
Mfr-Plastic: Merged accts
*Jan 0 18,003 18,003
7,024 10,979 0
0
VISA DESJARDINS: 514-397-4400 DLA-2006/10/24 20,531,
Dormant Acct #
*Dec Mar/1996
45,615 45,615 20,531
20,531 0 0
0
Whlsl-Durable Goods: Merged accts
*Dec 0 2,326 947
716 0 0
231
Arrg Transp of Freig:
*Dec 0 609K 609K
0 0 0
609K
Transportation Serv:
*Dec 0 4,673 4,673
4,289 321 63
0
Wholesale-Elec Appls:
*Dec 0 50,000 10,557
0 10,557 0
0
Whlsl-Durable Goods:
*Nov 0 10,352 10,352
10,022 163 0
167
Mfr-Engine:
*Nov 0 1,000 773
773 0 0
0
Whlsl-Electronic Pts:
*Nov 0 648K 1,772
1,772 0 0
0
Transportation Serv:
*Nov 0 1,454 1,454
1,169 182 0
103
Mfr-Paint, Varnishes:
*Nov 0 17,255 17,255
0 0
17,255 0
Mfr-Audio/TV Equip:
*Nov 0 200 19
19 0 0
0
Publisher-Newspaper:
*Nov 0 1,666 1,666
1,666 0 0
0
------- ------- ------- ------- -------
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P.I. =
85 90 Days 1,606K
834K 164K 41,577
17,425 610K
Reported ------- ------- ------- ------- -------
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Mfr-Paint, Varnishes:
*Oct
0 937 589
589 0 0
0
Whlsl-Ind Mach Sppls:
*Oct 0 344 344
344 0 0
0
Mfr-Sheet Metal:
*Oct 0 6,164 6,164
0 6,164 0 0
PEERLESS ENGINEERING: 604-659-4100
*Sep 0 276 276
276 0 0
0
Business Services:
*Sep 0 581 581
581 0 0
0
Mfr Electrical Motor:
*Sep 0 678K 678K
271K 407K 0
0
Mfr-Pump &
Pumping E:
*Sep 0 302 302
302 0 0
0
INTERSAN CWS INC: 416-227-8578
*Sep 0 631 631
0 631 0
0
Whlsl-Commercial Mch:
*Sep 0 193 193
0 193 0
0
Mfr Elevators& Moving:
*Sep 0 2,090 2,090
0 0 0
2,090
Mfr-Valve & Pipe Fit:
*Aug 0 172K 172K
163K 9,724 0
0
Whlsl-Electronic Pts:
*Aug 0 2,239 2,239
2,239 0 0
0
Manufacturing Indust:
*Aug 0 438 438
167 271 0
0
Printer-Commercial:
*Aug 0 16,415 16,415
16,415 0 0
0
Business Services:
*Aug 0 500 473
0 473 0
0
Wholesale-Elec Equip:
*Aug 0 7,907 7,907
0 0 0
7,907
THE BAY: 000-493-2471 DLA-2004/02/20 #
*Jul Jun/2003
20,000 1,334 0
0 0 0
0
Transportation Serv:
*Jul 0 818 818
0 818 0
0
Trucking:
*Jul 0 377 377
0 377 0
0
Mfr-Paper Products:
*Jul 0 2,147 2,147 1,414
733 0 0
Whlsl Ferrs Nonferrs: DLA-2006/04/21
*Jun Oct/1999
1,000K Nov/2005 1,190K 42,732
0 2,815 0
39,917
Whlsl-Ind Mach Sppls:
*May 0 310 310
0 310 0
0
Wholesale-Autosms:
*May 0 5,958 5,958
2,950 3,008 0
0
Whlsl-Ind Mach Sppls:
*May 0 78 78
0 0 0
78
Retail-Bldg/Hardware:
*Apr 0 2,121
2,121 0 2,121
0 0
Contractor-Excavator:
*Mar 0 193K 193K
121K 72,161 0
0
Mfr-Soap &
Cleaner:
*Mar 0 341 341
0 341 0
0
EQUIFAX CAN: 416-227-8703
*Feb 0 2,484 2,484
0 2,484 0
0
Mfr-Paper Products:
*Feb 0 166 166
166 0 0
0
Whlsl-Plumbing/Heatg:
*Feb 0 152 152
0 152 0
0
Printer-Commercial:
*Jan 0 14,012 14,012
14,012 0 0
0
Trucking:
*Jan 0 4,237 4,237
4,237 0 0
0
Business Services:
*Dec 0 8,050 8,050
8,050 0 0
0
Mfr Conveyors& Convey:
*Dec 0 60,563 60,563
23,400 37,163 0
0
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P.I. =
45 Total 3,984K
2,062K 795K 588K
17,425 660K
Reported ------- ------- ------- ------- -------
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PAYMENT TRENDS
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Payment C.I.
Number of Total Current Overdue
Quarters
Index Score Suppliers
Owing $ 1st 2nd
3rd
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4 Qtr/2006
73 35 28
1,001K 192,842 176,610
21,350 610,235
3 Qtr/2006
39 41 38
1,983K 944,036 424,132
127 615,154
2 Qtr/2006
34 35 32
1,677K 476,666 825,644
327,064 48,061
1 Qtr/2006
11 36 33
670,426 522,770 103,108
24,966 19,582
4 Qtr/2005
39 34 28
410,892 157,401 103,420
100,406 49,665
3 Qtr/2005
44 35 28
1,116K 332,550 274,024
350,247 159,583
2 Qtr/2005
20 25 27
1,161K 504,247 632,404
18,597 6,482
1 Qtr/2005
31 33 27
422,602 86,415 294,576
40,836 775
4 Qtr/2004
2 34 18
563,224 546,336 8,418
7,021 1,449
FINANCIAL INFORMATION
Mr. Perron stated that the Firm is the direct subsidiary of SNC-
LAVALIN GROUP INC. and all of the Firm's financial statements are consolidated into those of SNC-LAVALIN GROUP INC's financial figures, which are noted above.
HISTORY
In 1996, SNC LAVALIN INC. acquired KILBORN, a Canadian engineering company and a leader in mining and metallurgy, and PINGAT INGENIERIE, a French engineering firm specializing in the agrifood business.
Major awards include the Rhourde Nouss gas plant expansion in Algeria, Andina copper concentrator expansion in Chile, third phase of the Yacambu Quibor tunnel in Venezuela, additional contracts related to the Kuala Lumpur Light Rapid Transit system in Malaysia and, in Canada, the Voisey's Bay mine and mill project in Labrador and the contract for the management of the maintenance of the 12 MCDV (maritime coastal defense vessels) ships under construction.
Jacques Lamarre
President and Chief Executive Officer
Jacques Lamarre has a Bachelor of Arts
degree from
His engineering career began in 1966 with
the National Research Council of Canada in
Mr. Lamarre is Chair of the Board of
Directors of the Conference Board of Canada. He is currently a member of the
Board of Directors of the Royal Bank
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NOTE: Concerning Highway 407;
Highway 407 is a major highway in
Highway 407 is majority owned by the Government of Ontario, with the private companies; Macquarie Infrastructure Group (MIG) and Cintra Concesiones de Infrastructuras de Transporte S.A. owning a minor percent.
As Highway 407 is in constant need of repair and maintenance the Firm does take loss due to the amount of labor, material and time is requires to maintain the highway. In 2005 the Firm took a loss due to activities and numerous project, maintenance and other related operation on Highway 407 of CAD $4.7 million. However, the Firm has a reimbursement agreement with the Government of Ontario for labor and maintenance of Highway 407.
Even including the loss from operations and maintenance of Highway 407 the Firm had a net income for 2005 of CAD 129.9 million.
CURRENT OPERATIONS
NAICS Code: 54133 Engineering Services
SIC Code: 8711
Number of Employees: 4,200
Business Activity
The Company provides engineering, procurement, construction, and project management services to clients in the power, environmental, industrial, and general engineering markets.
The Subject's main clients are
The Company is
The headquarters is located at the above-noted address.
There are 30 additional locations
throughout
PUBLIC RECORD
Debtor SNC LAVALIN INTERNATIONAL INC,DB005623 Date Placed Sep 02, 2003
Creditor DEFINITI LASER INC Amount Placed 177
Agency UNIK COLLECTION AGENCY LTD
Comment Placed for Collection
In some situations, accounts are sometimes placed for collection even though the account is disputed.
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Writ of Summons:
Defendant SERVICES SNC LAVALIN LTEE Date May 15, 2006
Plaintiff CAPITALE ASSURANCES GENERALES INC Court
Amount 24,528 Location
Reason Damages File # 122837068
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Statement of Claim:
Defendant SNC-LAVALIN INC Date Dec 21, 2005
Plaintiff
Amount 242,000 Location
Reason Damages File # SCS056700
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Writ of Summons:
Defendant SNC LAVALIN INC Date Nov 04, 2005
Plaintiff
Amount 164,749 Location
Reason Goods Sold & Delivered File # 028122052
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Writ of Summons:
Defendant SNC LAVALIN INC Date Sep 19, 2005
Plaintiff
Amount 176,527 Location
Reason Damages File # 027508053
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Writ of Summons:
Defendant SNC LAVALIN INC Date Aug 25, 2005
Plaintiff CORPORATION HEBERGEMENT DU
Amount 11,939,597 Location
Reason Contract File # 006068050
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Writ of Summons:
Defendant SNC LAVALIN INC Date Mar 14, 2005
Plaintiff
Amount 2,435,492 Location
Reason Contract File # 024797055
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Statement of Claim:
Defendant SNC-LAVALIN INC. Date Dec 07, 2004
Plaintiff HAMPTON ENTERPRISES INC. Court Supreme Court
Amount
Reason Contract File # 200401T438
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Writ of Summons:
Defendant SNC LAVALLIN INC Date Oct 26, 2004
Plaintiff DURR ENVIRONMENTAL
Amount 666,876 Location
Reason Goods Sold & Delivered File # 022871043
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Writ of Summons:
Defendant SNC LAVALIN INC Date Oct 20, 2004
Plaintiff
Amount 1,460,971 Location
Reason Damages File # 022797040
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Writ of Summons:
Defendant SERVICES SNC LAVALIN LTEE Date Dec 11, 2003
Plaintiff ROYAL &
Amount 9,312,869 Location
Reason Damages File # 018386030
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Statement of Claim:
Defendant SNC-LAVALIN INTERNATIONAL INC./ETAL Date Jan 28, 2003
Plaintiff BRENNAN PAVING & CONSTRUCTION Court General Division
Amount 2,970,009 Location
Reason Contract File # 03-65802
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Writ of Summons:
Defendant SNC LAVALIN INC Date May 24, 2002
Plaintiff
Amount 853,752 Location
Reason Contract File # 017064028
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Writ of Summons:
Defendant SNC LAVALIN INTERNATIONAL INC Date Jan 16, 2002
Plaintiff BARFORD
Amount 246,802 Location
Reason Goods Sold & Delivered File # 012122027
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Writ of Summons:
Defendant SNC LAVALIN INC Date Dec 03, 2001
Plaintiff ACCELERATED
Amount 131,000 Location
Reason Contract File # 069219010
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Writ of Summons:
Defendant SNC LAVALIN AGRICULTURE INC Date Oct 16, 2001
Plaintiff
Amount 297,820 Location
Reason Contract File # 068184017
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No bankruptcy petitions were traced to the Firm, however there are legal actions filed against the Firm in public. The status is uncertain as no further information is currently available.
GENERAL COMMENTS
The Firm is a well established provider of engineering, procurement, construction, and project management services. The payment record is satisfactory. No bankruptcy petitions were traced to the Firm, however there are legal actions filed against the Firm in public records. The status is uncertain as no further information is currently available.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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