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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




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
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