MONTREAL - SNC-Lavalin Group Inc. has slashed its profit forecast again due to problems at a Chilean mining project as the beleaguered engineering giant faces obstacles at home and abroad. The Montreal-based company reduced its guidance for 2018 by more than 40 per cent Monday and halted all bidding on future mining projects. The head office of SNC Lavalin are seen Thursday, February 19, 2015 in Montreal. In its revised forecast Monday, SNC attributed the mining problems in Chile to subcontractors and factors out of its control. “The challenges on this mining project are mainly due to unexpected site conditions, greater than expected environmental and safety measures and underperformance from subcontractors,” the company said in a statement.

Source: thestar February 11, 2019 13:30 UTC