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C H E M C O N T R O L Integrated Supply Solutions
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Main Geographic Markets Our market primarily includes the Eastern Caribbean. See Caribbean GDP Figures.
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CAYMAN ISLANDS Grand Cayman, the largest of the three Cayman Islands, lies 480 miles south of Miami. Cayman Brac and Little Cayman are 89 miles to the north east of Grand Cayman. History The islands were discovered by Columbus in 1503. In 1670 the first of a number of international treaties to make Cayman a British Crown Colony was signed. Cayman was a dependency of Jamaica until 1962. The islands have a rich seafaring history, and tales of buccaneering feats have reached near mythical status. Economy With no direct taxation, the islands are a thriving offshore financial center. More than 40,000 companies were registered in the Cayman Islands as of 1998, including almost 600 banks and trust companies; banking assets exceed $500 billion. A stock exchange was opened in 1997. Tourism is also a mainstay, accounting for about 70% of GDP and 75% of foreign currency earnings. The tourist industry is aimed at the luxury market and caters mainly to visitors from North America. Total tourist arrivals exceeded 1.2 million in 1997, with 600,000 from the US. About 90% of the islands' food and consumer goods must be imported. The Caymanians enjoy one of the highest outputs per capita and one of the highest standards of living in the world. Population & People Nationality: Caymanian(s). Population (2004 est.): 43,103 Annual growth rate: 2.71%. Ethnic groups: Afro-European 40%, African 20%, European 20%, other 20%. Religious Affiliations: United Church, Anglican, other Protestant, Roman Catholic. Language: English. Education: Years compulsory--to age 16. Literacy (age 15 and over)--98%. Health: Infant mortality rate--8.41/1,000. Life expectancy—79.8 yrs. Work force: 20,000. Currency The Cayman Islands has its own currency, first issued in 1972, the basic unit is the dollar, issued in notes with denominations of CI$100, 50, 25, 10, 5 and 1 and coins valued at 25, 10, 5 cents and 1 cent. The CI dollar has a fixed exchange rate with the US dollar of CI $1.00 equals US $1.25 OR US $1.00 equals CI $.80 |
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Aruba |
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Anguilla |
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Montserrat | ||||
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Chemcontrol Limited |
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