SNC-Lavalin buys Quebec nuclear consultancy

* No price tag given for Nucleonex

* AECL winning bidder may be announced by year-end

VANCOUVER, Oct 20 (BestGrowthStock) – SNC-Lavalin Group Inc
(SNC.TO: ), which confirmed last month that it is bidding for
Atomic Energy of Canada Ltd (AECL), said on Wednesday it has
bought a small nuclear engineering consultancy in Quebec.

SNC-Lavalin said it had bought Nucleonex, which produces
nuclear safety studies and services and gives operations
support to nuclear utilities.

No price was given for the acquisition.

“This complements our strong capability in delivering a
complete suite of nuclear power plant services, from concept
and operations to decommissioning, worldwide,” said Patrick
Lamarre, SNC-Lavalin’s executive vice-president.

SNC-Lavalin, Canada’s biggest engineering company, said in
September it has submitted a bid for federally owned nuclear
technology and services company AECL.

Montreal-based SNC is Canada’s largest private-sector
nuclear engineering group and has refurbished several nuclear
power plants. It has worked closely with AECL for many years.

Last December, the Canadian government put AECL and its
Candu reactor business up for sale, saying the operation needed
outside investors to boost its chances for growth at a time of
expanding nuclear power generation, and to cut costs for
taxpayers.

SNC has said it hopes the government will announce the
winning bid by year end.

Media speculation on other possible bidders for AECL has
included French-based Areva (CEPFi.PA: ), U.S. engineering
companies and private equity groups.

SNC-Lavalin’s shares ended 10 Canadian cents firmer at
C$53.68 on the Toronto Stock Exchange on Wednesday.

($1=$1.02 Canadian)
(Reporting by Nicole Mordant; editing by Rob Wilson)

SNC-Lavalin buys Quebec nuclear consultancy