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Costain Group PLC (COST)

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Tuesday 21 December, 2010

Costain Group PLC

Re AE&E Inova AG & the Belved

RNS Number : 3386Y
Costain Group PLC
21 December 2010
 



Costain Group PLC

("Costain" or "the Group")

 

 

Re AE&E Inova AG & the Belvedere facility

 

Further to the announcements, issued on 29 November, 2 December and 13 December 2010, advising on the position regarding AE&E Inova AG ('AE&E Inova'), with whom Costain has a sub-contract for a major part of the works at the Belvedere energy-from-waste facility, Costain is providing the following update.

    

In a letter, dated 20 December, to their customers, suppliers and partners, AE&E Inova has confirmed that they have completed and legally approved the Stock Purchase Agreement for AE&E Inova AG, and that their new owner is Hitachi Zosen Corporation. 

 

Costain is also pleased to confirm that the £2.6 million sub-contract stage payment due to Costain on Friday 10 December has been received.

 

We welcome these positive developments and look forward to maintaining our constructive relationships with AE&E Inova and Cory Environmental, for whom the Belvedere facility is a development project.

 

 

21 December 2010

 

Enquiries:

 

Costain Group PLC

 


Andrew Wyllie, Chief Executive

Tel: 01628 842 444

Tony Bickerstaff, Finance Director


Graham Read, Communications Director




College Hill

 

Tel: 020 7457 2020

Mark Garraway


Adam Aljewicz


 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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