SPEA: Nuclear Most Profitable Segment in SNC-Lavalin Earnings Report

Greater opportunities available for company in growing nuclear industry

MISSISSAUGA, Ontario, March 09, 2021 (GLOBE NEWSWIRE) -- Today, SNC-Lavalin announced that its nuclear business was the most profitable segment within its portfolio, accounting for 14.4% of total revenue for Q4. This coupled with strong future opportunities buoyed hopes for a nuclear renaissance for made-in-Canada CANDU technology.

“Candu Energy is well positioned to take advantage of a low carbon economy that is fueled by nuclear energy,” said Mark Chudak, President of the Society of Professional Engineers and Associates (SPEA). “Whether it is Small Modular Reactors (SMR) or larger power plants or life extensions, SPEA members are capable of delivering the skills needed to take advantage in the global effort to fight climate change.”

CANDU technology has produced the safest nuclear energy globally since it was first introduced in the sixties. There are CANDU reactors operating in Argentina, China, Pakistan, South Korea and Romania. With upgraded technology, these reactors can use recycled fuel rods which reduces nuclear waste. Other improvements have dramatically lowered capital and operational costs.

“Candu Energy is well positioned to take advantage of the demand for clean energy,” according to Chudak. “What is required is the leadership from SNC-Lavalin to make this happen: to find markets for proven technologies, and to continue to innovate.”

The Society of Professional Engineers and Associates (SPEA) is an independent union representing engineers, scientists, technicians, technologists, skilled tradespersons, designers, operations and administrative staff employed by SNC-Lavalin. Formed in 1974, SPEA is one of the oldest professional unions in Canada. Collectively we represent the majority of Canada's nuclear power reactor design expertise.

For more information contact:
Michelle Duncan,
SPEA External Relations
Telephone: (416) 427-3525 (cellular)
E-mail: michelle.duncan@spea.ca