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