Ontario Construction News staff writer
Effective Sept. 13, SNC-Lavalin has announced a name change in an effort to distance itself from a series of scandals and poor business dealings.
The company is now known as AtkinsRéalis.
According to the Montreal-based company, the new name merges subsidiary brands—SNC-Lavalin, Atkins, Faithful+Gould, DTS and Atkins Acuity and represents a major milestone in the “transformation journey away from the Libya corruption scandal of the early 2000s, and the costly backlog of big, over-budget rail contracts the company acquired over the subsequent years.
“AtkinsRéalis is a new name for a new transformed company: our ability to draw upon such breadth and depth of global capabilities will maximize our ability to work seamlessly and provide one integrated offering for our clients and partners,” said president and CEO Ian L. Edwards. “In recent years, we have deliberately repositioned the Company. We exited those parts of the business that were not profitable or aligned with our strategy; corrected underlying issues affecting our performance; doubled down on high-growth global markets; embraced digital transformation; and most importantly, redefined our purpose and strengthened our culture.
“We have reached an inflection point so now is the right time to rebrand to AtkinsRéalis and reflect the exciting future ahead of us.”
The name AtkinsRéalis is a coined term that combines Atkins, a legacy brand that is well-established across the Company’s international markets, and “Réalis,” inspired by the city of Montréal and the Company’s French-Canadian roots.
“Réalis” also resembles the verb “to realize” or “to make happen” which emphasizes our focus on outcomes and project delivery.
“In recent years, we have deliberately repositioned the Company. We exited those parts of the business that were not profitable or aligned with our strategy; corrected underlying issues affecting our performance; doubled down on high-growth global markets; embraced digital transformation; and most importantly, redefined our purpose and strengthened our culture. We have reached an inflection point so now is the right time to rebrand to AtkinsRéalis and reflect the exciting future ahead of us”, added Mr. Edwards.
AtkinsRéalis employs more than 36,000 people worldwide. The company’s common shares will begin trading on the TSX under the new ticker symbol ATRL on Sept. 18.
SNC-Lavalin Group Inc. will not change its legal name until it obtains shareholder approval at its 2024 annual meeting.