Costain Group PLC
12 March 2007
Costain Group PLC
('Costain' or the 'Group')
Exit from Nigeria
Further to the announcement on 30 June 2006 regarding the closure of the Group's
International Division, Costain announces that it has sold all its trading
activities in Nigeria including its minority interest in Costain (West Africa)
PLC, a company listed on the Lagos Stock Exchange, to Shoreline Energy
International Limited. The shares were held directly through its Costain
Engineering & Construction (Overseas) Limited subsidiary. This represents a
complete withdrawal from the Company's operations in Nigeria.
Andrew Wyllie, Chief Executive of Costain, said:
'This is further decisive action taken in delivering our Being Number One
strategy - the Group's activities in the region are not within our core areas of
activity.
'A number of our expatriate staff have moved to Shoreline to continue working on
a number of projects there and we wish them every success for the future.'
12 March 2007
Enquiries:
Costain Tel: 01628 842 444
Andrew Wyllie, Chief Executive
Tony Bickerstaff, Finance Director
Graham Read, Public Relations
College Hill Tel: 020 7457 2020
Mark Garraway
Matthew Gregorowski
This information is provided by RNS
The company news service from the London Stock Exchange IVFIFLID
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