Business
CUC unaffected by Hurricane Dean
CUC unaffected by Hurricane Dean.
About this update from Caribbean Utilities Co. Ltd. Class A
[{"type":"text","content":"\n\n\n\nLISTED FOR TRADING IN UNITED STATES FUNDS ON THE TORONTO STOCK\n\n\nEXCHANGE/TRADING SYMBOL: CUP.U\n\n\nGRAND CAYMAN, Cayman Islands, Aug. 21 /CNW/ - Caribbean Utilities\nCompany, Ltd. ("CUC" or "the Company") confirmed today that it was not\nmaterially impacted by Hurricane Dean ("Dean"), a major category four\nhurricane that brushed Grand Cayman on Monday, August 20, 2007. Dean's closest\npoint of approach was approximately 104 miles south of Grand Cayman between\n7 am and 8 am Cayman time, resulting in tropical storm-force winds and minimal\nstorm surge along the eastern, western and southern coasts.\n\n\nRichard Hew, CUC President and Chief Executive Officer, noted that the\nCompany experienced minor wind damage that resulted in sporadic power outages\nduring the storm. "Eleven of our 23 circuits lost power during Dean affecting\na total of 13,200 of our 23,000 customers," said Mr. Hew. "Restoration of\nservice commenced as soon as the winds abated to a level that line crews could\nwork safely, and power was restored to all areas by late Monday evening.\nOtherwise, I am happy to report that our generating and transmission and\ndistribution systems were unaffected by Dean."\n\n\nCUC is the sole provider of electricity to Grand Cayman, Cayman Islands\nand operates under a 25-year exclusive Licence renewable in 2011 with the\nGovernment of the Cayman Islands.\n\n\nCaribbean Utilities Company, Ltd., on occasion, may include\nforward-looking statements in its media releases, Canadian securities\nregulatory authorities filings, shareholder reports and other communications.\nForward-looking statements are based on certain assumptions by their very\nnature and are subject to certain risks and uncertainties that may cause\nactual results to vary from plans, objectives and estimates. Such risks and\nuncertainties include but are not limited to general economic, market and\nbusiness conditions, regulatory developments and weather. Caribbean Utilities\nCompany, Ltd. cautions readers that actual results may vary significantly from\nthose expected should certain risks or uncertainties materialize or should\nunderlying assumptions prove incorrect.\n\n\n%SEDAR: 00002251E\n\n\n","length":2303,"tagName":"div"}]