Archived press release

COSTAIN AGREES TO REVIEW NEWBURY BYPASS CONTRACT

6 September 1996

Over three hundred anti-Newbury bypass campaigners attended the Annual General Meeting of troubled construction company Costain today (Friday 6 September). Critical questioning of the company Board eventually led to a commitment from the Chairman to review the controversial road scheme.

The campaigners were also successful in altering the agenda of the meeting which originally proposed to take environmental issues as the last item. Protests forcefully put from the floor of the meeting prevented the formal election of the Board until questions on the Newbury bypass had been heard.

Some longer term investors criticised the company over its financial performance and there was some common ground with protesters over the financial impact on Costain from the Newbury bypass.

Tony Juniper, Deputy Campaigns Director at Friends of the Earth, said:

"The majority of the shareholders in the meeting were against the company going ahead with the road and were but a tiny minority of the millions of people nationwide who believe this road should be scrapped. If Costain wishes to avoid commercial suicide, then it must hand back the poisoned chalice of the Newbury Bypass to the British Government".

Friends of the Earth is to write to the Board of Costain to ask for details on how and when the company intends to take forward the commitment to review the road made at today's annual meeting.

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Archived press release

COSTAIN AGREES TO REVIEW NEWBURY BYPASS CONTRACT

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