Costain Group PLC Greater Manchester Waste contract (9566D)
May 02 2017 - 10:37AM
UK Regulatory
TIDMCOST
RNS Number : 9566D
Costain Group PLC
02 May 2017
Costain Group PLC
("Costain" or the "Company")
Greater Manchester Waste contract
Costain, the engineering solutions provider, has noted the
publication today of a decision notice by the Greater Manchester
Waste Disposal Authority (the "Authority") following a meeting of
the Authority on 26 April 2017. The decision notice, which relates
to the Authority's PFI contract relating to recycling and waste
management in Greater Manchester, states, amongst other things, as
follows:
"That the Authority ... confirmed that the Recycling & Waste
Management Private Finance Initiative (PFI) Contract be terminated"
and further that such contract "...would continue to be
administered in accordance with its provisions during the
termination notice period...".
Costain does not have a contract with the Authority but is a
sub-contractor to Viridor Laing (Greater Manchester) Limited
("Viridor Laing") relating to recycling and waste management in
Greater Manchester. Costain has not been party to any discussions
between the Authority and Viridor Laing, but can confirm that
discussions are taking place with Viridor Laing to consider the
options in relation to Costain's sub-contract. A further
announcement will be made when appropriate.
In the meantime, Costain is continuing to fulfil its obligations
under the sub-contract.
It is Costain's policy not to pursue any further contracts of
this nature.
This announcement contains inside information.
The person who arranged for the release of this announcement on
behalf of Costain was Tracey Wood, Legal Director and Company
Secretary.
02 May 2017
Enquiries:
Costain Group PLC Tel: 01628 842444
Tracey Wood, Company Secretary
Instinctif Partners Tel: 020 7457 2020
Mark Garraway
This information is provided by RNS
The company news service from the London Stock Exchange
END
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