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Costain overhauls its tendering process

The infrastructure specialist recorded a pre-tax loss last year due to problematic contracts
Costain overhauls its tendering process
  • A new approach to tendering contracts has been put in place 
  • Management is targeting more sophisticated contracts to boost margins

Burned by hefty costs relating to problematic contracts, Costain (COST) has put in place measures to improve its approach to tendering for new work. The infrastructure specialist has bolstered its senior leadership team, appointing a new chief financial officer and general counsel following the hire of a new managing director for the transport division, all while establishing a new approval process for contracts. 

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