GEORGE TOWN, Cayman Islands,
Sept. 12, 2017 /PRNewswire/
-- Consolidated Water Co. Ltd. (NASDAQ Global Select Market:
"CWCO") ("the Company"), a leading developer and operator of
seawater desalination plants, today provided an update regarding
the impact of Hurricane Irma on its operations.
President and CEO Rick McTaggart
stated: "As Hurricane Irma made landfall in the Caribbean and Florida, our thoughts have been with the
people and communities affected, and the wellbeing of our employees
has been our priority. We are grateful that our team is safe. Due
to loss of power, our desalination plants in the British Virgin Islands remain closed following
the severe damage from winds and flooding that the Islands of
Tortola and Jost Van Dyke endured
from Hurricane Irma. These plants represent 800,000 gallons of
daily production, equivalent to 3% of our total water capacity. We
are currently unable to estimate how long it will take for power to
be restored to Tortola and Jost van
Dyke because of the extensive damage to the country's
infrastructure, and are also working directly with Government
officials to expedite the importation of emergency power equipment.
From what we know today, the physical structures of our plants
there appear to be intact but without electrical power we are
unable to determine whether they are operable. Neither of our three
water desalination plants located in the Bahamas sustained damage from the Hurricane.
Our Aerex subsidiary in Ft. Pierce, Florida is currently without power but we
expect power to be restored within a matter of days, after which we
can recommence full manufacturing activities at Aerex. We will
continue to closely monitor the situation and report on any
material developments."
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. The Company operates water production and/or distribution
facilities in the Cayman Islands,
Belize, the British Virgin Islands, The Commonwealth of The Bahamas, and
Bali, Indonesia. The Company also
manufactures and services a wide range of products and provides
design, engineering, management, operating and other services
applicable to commercial and municipal water production, supply and
treatment, and industrial water and wastewater treatment in
the United States.
Consolidated Water Co. Ltd. is headquartered in George Town, Grand Cayman, in the Cayman
Islands. The Company's ordinary (common) stock is 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.
About MBS Value Partners
Headquartered in New York City,
MBS Value Partners is an investor relations and corporate
communications firm that provides senior level advisory work and
customized investor relations, financial media and corporate
communications programs for a roster of domestic and international
clients in a broad range of industries. For information on the
firm's approach, services and leadership team, please visit the MBS
Value Partners website at www.mbsvalue.com.
Coordinates for the MBS Team are as follows:
Lynn Morgen: (212) 223 4147
lynn.morgen@mbsvalue.com
Eric Prouty: (212) 750 5800
eric.prouty@mbsvalue.com
Viktoriia Nakhla: (646) 625-4800
viktoriia.nakhla@mbsvalue.com
For further information, please contact:
Frederick W. McTaggart, President
and CEO, at (345) 945-4277 or David W.
Sasnett, Executive Vice President and CFO, at (954) 509-8200
or via e-mail at info@cwco.com
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SOURCE Consolidated Water Co. Ltd.