Company Updates – McCormick Rankin, SNC-Lavalin, Stantec

McCormick Rankin Corporation was recognized as one of the 2007 Best Managed Companies in Canada. The award is sponsored by Deloitte, CBC, National Post and Queen’s School of Business. The transportation engineering company is currently part of a team working on the 1,200-kilometre trans-Algeria highway, the largest highway project in the world. Based in Mississauga, Ontario, McCormick Rankin has offices in Australia, New Zealand and the United Kingdom.SNC-Lavalin, engineering and construction company based in Montreal, reported net income of $153.2 million for the year ended December 31, 2007. This figure compared to $158.4 million for the same period in 2006. The lower year to date net income was mainly due to a pre-tax operating loss of $267.3 million in the power sector. Revenues increased to $6.7 billion from $5.2 billion for 2006.The cash dividend was increased by 33% to $0.12 per share for the fourth quarter of 2007.
On March 17, Stantec announced it has acquired a California based firm with 170 employees and several offices in the western United States. RHL Design Group of Petaluma, California will enhance Stantec’s new Commercial Program Development practice, which will provide engineering, architecture, permitting, compliance and environmental services.