SNC-Lavalin Group Inc. (TSX: SNC) has been awarded a three-year contract to provide a transportation asset management system for the California Department of Transportation, whom is also known as Caltrans. The company reports the contract is worth US$15 million.
Under the three-year contract, which includes two one-year extensions, SNC-Lavalin’s data transfer solutions business unit has been selected to implement the asset management system known as TAMS, including software licensing, maintenance, and optional post-implementation support.
The contract is a result of US federal and California state laws mandating transportation agencies to implement a transportation asset management plan. The department expects the company’s business unit to provide an enterprise asset management software solution to aid the agency in making data-driven decisions.
Earlier this year, the company was also selected for a five-year, US$2 billion contract by the U.S. Air Force Civil Engineer Center and a three-hydroelectric project by the US Army Corps of Engineers.
SNC-Lavalin Group Inc. last traded at $27.64 on the TSX.
Information for this briefing was found via Sedar, and SNC-Lavalin. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.