11:36:18 EDT Wed 01 May 2024
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Aecon Group Inc
Symbol ARE
Shares Issued 61,535,737
Close 2023-05-16 C$ 12.78
Market Cap C$ 786,426,719
Recent Sedar Documents

Globe says Aecon, SNC sue to get TTC off their backs

2023-05-17 07:42 ET - In the News

Also In the News (C-SNC) SNC-Lavalin Group Inc

The Globe and Mail reports in its Wednesday edition that the group of companies responsible for building Toronto's long-delayed Eglinton Crosstown LRT project is taking legal action against the Ontario government, arguing that the province has not done enough to minimize "undue interference" from Toronto Transit Commission. The Globe's Dustin Cook writes that Crosslinx Transit Solutions filed an application in Ontario Superior Court of Justice on Tuesday against the province and its transit agency, Metrolinx, alleging that requests from the TTC to make changes to the project have caused significant delays and increased costs. CTS is responsible for constructing the 19-kilometre light rail transit line from the city's west end to Kennedy Station in Scarborough through a public-private partnership with the province. It is made up of large-scale construction companies ACS-Dragados, Aecon Group, EllisDon Corp. and SNC-Lavalin. The transit project has been under construction since 2011 and faced significant delays. "Crosslinx is left in an impossible situation where it must meet obligations that depend on the actions of another party who has no reciprocal contractual obligations," the group says in the court document.

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