The UK engineering solutions provider Costain Group and the public utility firm Severn Trent have formed Severn Trent Costain, a joint venture that will provide water management services in the commercial and industrial sector.
Costain will contribute the majority of its water hygiene testing business into the venture, comprising gross assets of £0.1m, while Severn Trent will contribute maintenance, water hygiene and developer services and other businesses (also comprising gross assets of £0.1m).
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 . . . We are delighted to be working with Severn Trent to bring our combined expertise in consultation, construction and asset management to bear on this vital issue.
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.
Severn Trent Services is one of the world's leading suppliers of water and waste water treatment solutions. Together with Costain we will take the initiative in opening up the UK market for business retail competition.