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
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."
Pensioners to receive up to £600 in winter support - who is eligible and how to claim
Up to £600 in cost-of-living payments is starting to land in pensioners’ bank accounts. We explain who qualifies and what to do if you don’t receive the cash.
By Ruth Emery Published
M&S shares shift from frumpy to fabulous as pre-tax profits are up by 56%
M&S is performing strongly and has announced it will pay a dividend for the first time since the pandemic.
By Dr Matthew Partridge Published