Costain Group PLC Network Rail 'Meerkat' Technology Contract

TIDMCOST

Costain Group PLC

23 August 2018

Costain Group PLC

("Costain" or "the Group" or "the Company")

COSTAIN AWARDED NETWORK RAIL CONTRACT TO CREATE 'MEERKAT' ENHANCED WARNING DEVICE TO REDUCE RISK AT LEVEL CROSSINGS

23 August 2018

Costain, the smart infrastructure solutions company, has been commissioned by Network Rail to develop a new type of enhanced warning technology which will help reduce the number of incidents at passive footpath and bridleway level crossings across Britain.

Currently around five people a year are killed at level crossings in Britain with hundreds of reported near misses. The new enhanced warning devices - which will detect an oncoming train and provide an audible and visible warning to alert users - will have a significant impact on public safety at level crossings.

The contract will see Costain's team work closely with Network Rail to develop the technology and the first units are expected to be installed within the next 12 months. Work is already underway to design and develop the Meerkat solution. When developed and approved, the Meerkat contract sees the technology installed at sites across Britain over the next five years.

Andrew Wyllie CBE, chief executive at Costain, said:

"Maintaining safety on the rail network is an important focus and the award of this contract demonstrates how smart infrastructure solutions can help save lives."

Allan Spence, head of passenger and public safety at Network Rail said:

"This is an important project which will help further reduce level crossing risk across the network. Meerkat will give users information on whether it is safe to cross and allow us to replace hundreds of Victorian 'whistleboards' - helping line side neighbours as well as improving safety."

ENDS

Notes to Editor

About Costain

Costain helps to improve people's lives by deploying technology-based engineering solutions to meet urgent national needs across the UK's energy, water and transportation infrastructures. We have been shaping the world in which we live for the past 150 years.

The Group's 'Engineering Tomorrow' strategy involves focusing on blue chip clients in chosen sectors whose major spending plans are underpinned by strategic national needs, regulatory commitments or essential maintenance requirements.

Costain's 4,000 people, who are committed to high performance and safe delivery, are working on a number of high profile contracts in the UK incorporating a broad range of innovative services across the whole life-cycle of our clients' assets and does so through the delivery of consultancy, technology, asset optimisation and complex delivery services.

For more information visit www.costain.com

Enquiries:

 
 Costain                                       Tel: [phone] 
 Andrew Wyllie CBE, Chief Executive 
 Tony Bickerstaff, Chief Financial Officer 
 Carolyn Rich, Investor Relations Director 
 Sara Lipscombe, Group Communications 
  Director 
 
 Instinctif Partners                           Tel: [phone] 
 Mark Garraway 
 James Gray 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

NRAEADPAASEPEFF

(END) Dow Jones Newswires

August 23, 2018 02:01 ET (06:01 GMT)