Costain Group PLC Contract Win (8528Q)

TIDMCOST

RNS Number : 8528Q

Costain Group PLC

12 November 2012

COSTAIN GROUP PLC

("Costain" or "the Group")

Costain Secures Three Additional Highways Appointments

Costain, a leading engineering solutions provider, is pleased to announce that it has been awarded a four-year technology contract by the Welsh Government and has also been appointed onto both lots of the Highways Agency Asset Support Framework.

Highways Technology Contract

The four-year technology contract, worth around GBP15m, is for the maintenance of Road Network Communications and Tunnel Systems across Wales. It involves routine maintenance and fault repair of technology systems such as CCTV cameras, variable messaging signs (VMS), emergency telephones and traffic signals and includes the strategic routes of the M4, A55, and Conwy tunnels.

Costain will commence the new service in early 2013, following a transition and handover period.

Appointment to Asset Support Framework

The Highways Agency ("the Agency") Asset Support Framework augments the Agency's Asset Support Contracts by allowing it to call on suppliers, including Costain, for larger maintenance schemes and improvement works, up to the value of GBP15m each. Costain has been successfully appointed to the framework for both the North and South lots.

While there is no commitment by the Agency to spend under the framework, over GBP750m of work packages are expected to be awarded through the framework over the next three years. Costain is one of five contractors on each framework that will operate for three years, with scope for an extension of up to a further 12 months. The contract start date is 5th November 2012.

Work packages could include surfacing works, structures works, technology related works, and general highway improvements across the whole of the Highways Agency motorway and trunk road network.

Andrew Wyllie, Chief Executive of Costain, commented:

"We are delighted with these additional appointments from existing customers, which demonstrate the ongoing success of the implementation of our 'Choosing Costain' strategy: providing a broader service offering to the major customers who are making significant investment in the UK's national infrastructure needs."

12 November 2012

 
 ENQUIRIES: 
 Costain Group PLC                      Tel: 01628 842 444 
 Graham Read, Communications Director 
 
 College Hill                           Tel: 020 7457 2020 
 Mark Garraway 
 Mike Davies

This information is provided by RNS

The company news service from the London Stock Exchange

END

CNTEAKFAFDNAFEF

Costain (LSE:COST)
過去株価チャート
から 6 2024 まで 7 2024