Contractor to target large industrial water customers in partnership with Severn Trent
Contractor Costain has launched a joint venture with water company Severn Trent to offer industrial water customers complete engineering and water management services.
The venture will focus on helping large multi-site water users to manage their water and waste water usage more effectively.
Andrew Wyllie, chief executive of Costain, said: “”Severn Trent Costain will help customers to manage their water and waste water usage in the most efficient, compliant and cost-effective way.
“Increasingly, customers are looking for a single expert provider who can help plan and manage their industrial water and waste water use across the full cycle.”
Costain will hold a 40% share in the venture and will transfer assets of £0.1m into the new firm.
The contractor also issued a trading update saying it was on track to hit its revenue targets in 2012 after having secured £850m of revenue in the first six months of the year.
The firm’s order book was up £100m to £2.4bn over the period.