SNC-Lavalin, ABB Form New JV Company Linxon - Quick Facts

(RTTNews) - Canada-based engineering and construction company SNC-Lavalin Group (SNCAF.PK, SNC.TO) and Swiss engineering firm ABB Ltd. (ANN.L, ABB) said they have formed a new joint venture company, Linxon, for the execution of turnkey electrical AC substation projects.

The transaction was announced in December 2017 and Linxon is expected to commence operations from September 1, 2018. SNC-Lavalin will have a majority and controlling interest in the JV.

Linxon will undertake turnkey electrical alternating current substation projects related to renewable and conventional power generation, power transmission and transportation solutions.

Turnkey solutions will include project design, engineering, procurement, construction, management, commissioning and after-sales support. Linxon will have an opening order backlog of $340 million, or C$440 million.

Frédéric Tréfois, currently responsible for Engineering, Procurement, Construction or EPC solutions within ABB's Grid Integration business has been appointed as the Chief Executive Officer of Linxon.