Aecon Loses A Buyer, Gains a Chief
Aecon Group Inc., one of Canada’s largest public contractors, lost a buyer in May when the government nixed a $1-billion buyout by China’s CCCC International Holding Ltd. because of what it said were national security issues. The firm also withdrew from the team eventually picked to design, build and finance the 1.5-mile cable-stay Gordie Howe crossing from Ontario to Detroit because of the federal review.
But Jean-Louis Servranckx now could be at the table when the bridge contract is signed next month, since Aecon was allowed on Aug. 16 to rejoin the bridge consortium, and he was named last month as Aecon president and CEO. Infrastructure unit president and CEO at French contractor Eiffage since 2011, he takes the new role on Sept. 4. Servranckx succeeds John Beck, who becomes executive chair. Aecon has said it will stay independent.