12th Mar 2007 10:13
Costain Group PLC12 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'sInternational Division, Costain announces that it has sold all its tradingactivities in Nigeria including its minority interest in Costain (West Africa)PLC, a company listed on the Lagos Stock Exchange, to Shoreline EnergyInternational Limited. The shares were held directly through its CostainEngineering & Construction (Overseas) Limited subsidiary. This represents acomplete 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 Onestrategy - the Group's activities in the region are not within our core areas ofactivity. "A number of our expatriate staff have moved to Shoreline to continue working ona number of projects there and we wish them every success for the future." 12 March 2007 Enquiries:Costain Tel: 01628 842 444Andrew Wyllie, Chief ExecutiveTony Bickerstaff, Finance DirectorGraham Read, Public Relations College Hill Tel: 020 7457 2020Mark GarrawayMatthew Gregorowski This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Costain