“SNC-Lavalin has made the difficult decision to cease its efforts to participate in the Davie Joint Venture. Following an extensive analysis, we concluded that this initiative did not pass the financial or business risk criteria required to proceed. SNC-Lavalin was one of the Davie J.V. partners that was planned to take part in the completion of the Cecon vessels under construction at the Davie yard. Cecon regrets the withdrawal, however alternative solutions are under negotiations and development for delivery of the vessels.