FTSE 100 water firm Severn Trent and engineering company Costain have announced a joint venture to provide business water and wastewater management services to high volume commercial users.
The new entity, Severn Trent Costain, will offer large multi-site water users a single expert supplier for all of their water and waste water requirements, from source to disposal.
Severn Trent will control 60% of the joint venture.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Tony Wray, Chief Executive of Severn Trent said: "Costain is a long term partner of Severn Trent Services and together we have already established a track record for successful delivery in the UK."
Andrew Wyllie, Chief Executive of Costain, added: "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."
BS
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
