8 May 2013

The Costain Group officially launches a major new initiative at the Company’s AGM in London today.

Engineering Tomorrow is Costain’s commitment to identifying, developing and implementing innovative solutions to meet the UK’s major national infrastructure needs. Over the last 12-18 months, Costain has implemented a number of schemes that aim to enhance the quality of project delivery, develop the skills and ideas of its people, and, more crucially, provide cost-effective solutions, all in support of Engineering Tomorrow. 

Costain Start-Up is one such example. Launched in 2012, its aim was to create and support innovative business ideas from across the Company. Employees were invited to submit their business ideas and as a result, ‘Mario’ (Mass Asset Recognition and Intelligent Optimisation), an asset management tool, is now being sold commercially to rail and highways customers in addition to Costain’s range of services.  The subsequent launch of Blue Innovation Futures has opened a similar scheme to innovators, entrepreneurs, businesses and members of the general public.

Engineering Tomorrow relies on sharing knowledge and applying best practice across the Group. To support this, the Company recently launched The Costain Way, which uses the broad range of skills and knowledge within the Company to further strengthen best practice and reflect the diversity of its business, including its growing support services related activities.

Engineering Tomorrow means providing cutting edge advanced technological solutions. Working with the Nuclear Decommissioning Authority to address the UK’s nuclear legacy, the Company is undertaking research and development into Plasma Vitrification and Graphite Gasification technologies as potential solutions for the treatment and storage of intermediate level nuclear waste. The technology has the potential to cut waste and produce cost savings of £4.3 billion.

Costain’s stakeholders, including its shareholders and the communities it serves, are also an important component of Engineering Tomorrow. The Company’s Costain Cares programme aims to address the growing needs of its stakeholders through greater corporate responsibility, including health and safety, professional development and reducing the environmental impact of its business.

Costain Cares underpins Costain’s role as an active member of Business in the Community (BITC) by supporting its goal of creating jobs and helping every young person, particularly those facing social disadvantage, to receive support from business to build a successful working life.

The health and safety of its employees and wider stakeholders is paramount. The Group now employs its own third party accredited Costain Behavioural Safety programme (CBS) on all of its projects where it is used to create an environment where, through exhibiting leadership, everyone has an understanding of their own behaviour and how it impacts on others. The fundamental principles of this highly successful programme are now being used in a wider Behavioural Management and Leadership Programme, applying it to all aspects of the business.

All of these schemes support Costain’s Engineering Tomorrow strategy, which recognises that to satisfy the national need, the Company needs to invest in technology, formulate innovative solutions, devise new ways of doing things and pass on crucial knowledge, both internally and to its partners and customers.

“Engineering Tomorrow is our commitment to identifying, developing and implementing innovative solutions to meet major national infrastructure needs. We place high priority on innovation and this can clearly be seen in our technological and organisational initiatives, as well as our skills-based training and our bid to be more socially responsible to the needs of our stakeholders. Engineering Tomorrow is delivering today,” said Alan Kay, Costain’s Group Technical & Operations Director.

 

Ends