MONTREAL, Sept. 30, 2013 /CNW Telbec/ - SNC-Lavalin (TSX: SNC) is pleased to announce that it is making rapid progress toward its goal of implementing a company-wide ethics and compliance framework. Initial efforts launched in early 2012 have accelerated in 2013, putting SNC-Lavalin in an excellent position to attain its objective.
"The many important initiatives we have launched in 2013 should reassure stakeholders that our commitment to ethics and compliance excellence continues to be unwavering," said Robert G. Card, President and CEO, SNC-Lavalin Group Inc. "My meetings with our employees around the world have made it clear that they wholeheartedly embrace and support our vision for SNC-Lavalin, and are ready to do what it takes to implement it at all levels of the organization. Thanks to them, compliance is becoming a central and permanent element of our efforts to create outstanding value for our clients."
Among the initiatives launched in 2013 are:
- An Anti-Corruption Manual for SNC-Lavalin's 34,000 employees around the world. A component of SNC-Lavalin's overall compliance framework, the Manual provides a concise overview of the Company's approach to addressing and mitigating corruption risk in daily business activities. It outlines acceptable and unacceptable conduct in a user-friendly manner, while reaffirming the importance of compliance with applicable laws and SNC-Lavalin's recently enhanced Code of Ethics and Business Conduct.
- A new policy governing engagements with business partners. The policy sets out principles and due diligence procedures to be observed before entering into an agreement with any and all parties who will act on behalf of SNC-Lavalin. The Policy will help ensure the Company deals solely with people or entities of integrity and in good standing with the business community, and which possess the necessary background, reputation and qualifications for the service(s) provided.
- The appointment of Compliance Officers to the Company's business units and regional hubs around the world. Part of a comprehensive, risk-based compliance organization, the officers will report directly to SNC-Lavalin's Chief Compliance Officer, Andreas Pohlmann, and work to prevent, detect and respond to compliance issues whenever and wherever they may arise across the Company.
- Personal Compliance Training for all employees, with a special focus on those working in functions known to expose employees to a higher level of corruption risk. Provided in person by compliance experts, the training for high-risk functions will ensure SNC-Lavalin employees have the requisite tools to do business according to the utmost ethical standards, no matter what regulatory circumstances they find themselves in, or external parties they are in contact with.
- Third-party validation. The Company's engagement of an independent Monitor reporting to the World Bank will provide further input to refine and improve its ethics and compliance program going forward.
- An Amnesty Program launched between June 3 and August 31 of this year. The Program provided employees with an opportunity to come forward regarding ethical violations so that any remaining issues could be dealt with and rapidly resolved. A total of 32 employees made amnesty requests. While no new information of a material nature was revealed, the information the Company received did confirm its previous assessment of corruption risks.
SNC-Lavalin's commitment to ethical behaviour and the highest standards in governance, compliance and accountability is unwavering. The Company continues to improve and strengthen its processes across the organization and at all levels. More information about how positive change is being implemented at SNC-Lavalin is available at www.snclavalin.com/followus.
SNC-Lavalin is one of the leading engineering and construction groups in the world, and is a major player in the ownership of infrastructure and in the provision of operations and maintenance services. Founded in 1911, SNC-Lavalin has offices across Canada and in over 40 other countries around the world, and is currently active in some 100 countries. www.snclavalin.com
For further information:
Senior Vice-President, Global Corporate
SNC-Lavalin Group Inc.
514-393-8000, ext. 57354
Vice-President, Investor Relations
SNC-Lavalin Group Inc.
514-393-8000, ext. 57553