Buffet buying Altalink....

[Toma]

Yup. Berkshire buying it from SNC Lavalin....

Bad enough its no longer citizen owned.... But now whoring out our infrastructure to foreigners....

[AudiPWR]

Better buffett than the crooks in montreal

[AudiPWR]

swear to god the only reason SNC bought altalink was so they could give all the transmission line work to SNC-Lavalin to keep them busy for the next few years...

[ExtraSlow]

SNC was from quebec, that's foreign enough in my eyes.

[Xtrema]

Originally posted by AudiPWR
Better buffett than the crooks in montreal

I have to agree.

And if you think SNC is bad, you should check out how ATCO operates.

[civic_stylez]

I just hope they dont kill this off like they did with Heinz in Canada. Loaded up and shut everything down. BH is really loading up on the electricity front. Theyve got the Alberta Utilities Comission pretty well bent over on this.

[colinderksen]

I thought the price tag would have been higher

[Unknown303]

Looks like the deal is done.

[J-D]

I'm not sure how I feel about this.

[ZenOps]

Buffett is a smart one. He usually gets in when everyone else is panicking. The great contrarian, because he can afford to be.

Does not chase anything on the way up, in fact - buys a little bit on the way down to make the seller feel better for a short period of time.

Which says to me that petroleum/coal/energy has a little more downside left, but there is light at the end of the tunnel.

[R154]

Yea my company has been supplying stuff for altalink for their HVDC site through siemens/snc. Audipwr is 1000% correct.

That is why SNC bought them, so that they could win the bid on upgrading all their transmission lines and take a cut on building the HVDC site/testing.

next guess on who (snc) are buying next?

[Sugarphreak]

...

[HiTempguy1]

Originally posted by Sugarphreak


Kentz

I thought they already owned them?

[Sugarphreak]

...

[Unknown303]

It's probably better Altalink is owned by an energy company instead of a corrupt engineering firm... just my opinion though.

[R154]

yea, again, SNC only bought altalink as a power move to warchest all the transmission line upgrades in alberta. They essentially bought the contract and made off like a bandit when they resold the company.

Expect SNC to stay liquid for now. its not often that big projects like that come up in Canada. It was a unique situation because of the size of the projects for altalink. Also, alberta is one of the few provinces that has non gov't owned power/energy infrastructure, so the contracts were up for single source.

They will probably bid all the DoD upgrades to their emergency pwr gensets (250kW+ x 1500 units) that contract will be worth north of 40mm in profit @ margin 11%