Consolidated Water Co. Ltd. Sustains No Significant Damage From Hurricane Irene's Passage Through Bahamas
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GEORGE TOWN, GRAND CAYMAN, CAYMAN ISLANDS -- (MARKET WIRE) -- 08/26/11 --
Consolidated Water Co. Ltd. (NASDAQ: CWCO), which develops and operates seawater desalination plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent, today reported on Hurricane Irene's impact upon its facilities and operations in the Commonwealth of the Bahamas.
"Our initial assessment following yesterday's passage of Category 3 Hurricane Irene to the east of Nassau, New Providence, Bahamas, indicates that our facilities on New Providence island suffered only minor damage to certain buildings," commented Rick McTaggart, Chief Executive Officer of Consolidated Water Co. Ltd. "In order to secure the site in preparation for the hurricane, we ceased construction work on the expansion of the Blue Hill plant on Monday. Construction activities are expected to resume today. All water production equipment continued to operate at normal production levels throughout the storm and afterwards. We do not expect this event to materially impact revenues generated from our
About Consolidated Water Co. Ltd.
Consolidated Water Co. Ltd. develops and operates seawater desalination plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent. The Company operates water production and/or distribution facilities in the Cayman Islands, Belize, the British Virgin Islands, and The Commonwealth of The Bahamas.
Consolidated Water Co. Ltd. is headquartered in George Town, Grand Cayman, in the Cayman Islands. The Company's common shares are traded on the NASDAQ Global Select Market under the symbol "CWCO". Additional information on the Company is available on its website at http://www.cwco.com.
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "intend", "expect", "should" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. While the Company does not expect an interruption of its operations, unknown conditions in the Bahamas could cause an interruption of the Company's services and have a material impact on revenues generated in the Bahamas. By making these forward-looking statements, the Company undertakes no obligation to
update these statements for revisions or changes after the date of this release.
For further information, please contact:
Frederick W. McTaggart
President and CEO
David W. Sasnett
Executive Vice President and CFO
or via e-mail at firstname.lastname@example.org
RJ Falkner & Company, Inc.
Investor Relations Counsel
or via e-mail at email@example.com
Source: Consolidated Water Co. Ltd.
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