Canada's national police force raided the Montreal offices of engineer SNC-Lavalin on April 13, seeking information about missing funds allegedly used by former executives to procure work in Libya.The raid underscores troubles in the firm's overseas projects. The chief executive resigned following the departure of two other senior executives earlier. The firm also said on April 2 that the World Bank had temporarily suspended its unit in Bangladesh from bidding on a $2-billion bridge project there while a bank probe of corruption allegations continues. The allegations are noted in a "confidential" bank report, but the firm said the lender's action
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.