Hollund Industrial Marine, Inc. Announces New Plan to Accelerate Entry Into Largely Untapped $50 Billion Global Underwater Lo...
December 08 2011 - 7:59AM
Marketwired
Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR)
(www.HollundIndustrial.com) released news today announcing its plan
to target the fast growing underwater logging market. The strategic
plan catapults Hollund Industrial Marine into this dynamic green
industry as an up and coming global player.
Underwater logging is the process of logging trees from
underwater forests. When artificial reservoirs and dams are built,
large areas of forest are often inundated; although the trees die,
the wood is often preserved. The trees can then be felled and
brought to the surface using Hollund's patented logging technology
called Tiger-Lynk.
According to the industry, there are an estimated 300 million
inundated trees worth $50 billion in large dam reservoirs
worldwide. The majority of these resources are currently
undeveloped.
According to Michael Lacy, Hollund's president, the company
plans to enter this market through joint ventures and other
strategic partnerships aiming at creating a vertically integrated
underwater forest products company. In a global forest products
market expected to reach $1,491 billion by 2015, and with very few
international players operating on scale, Hollund is aimed to
become a key player in underwater forestry.
Lacy stated, "We are marketing to a number of existing projects
where divers are being used to extract the timber. This dangerous
practice has resulted in numerous injuries and fatalities over the
years and is extremely inefficient. We intend to make underwater
logging safer and more productive by introducing our most advanced
machinery. At the same time, we are also targeting the
hydroelectric dam industry in an effort to identify potential new
projects."
About Hollund Industrial Marine, Inc. Hollund Industrial Marine,
Inc. (PINKSHEETS: HIMR) (www.HollundIndustrial.com) is focused on
the commercialization and marketing of its patented Tiger-Lynk
Technology (www.Tiger-Lynk.com) for the flood emergency services
and offshore drilling markets. Tiger-Lynk (US Patent #6,024,145) is
a remote operated machine comprised of a vessel-mounted robotic
manipulator system with underwater vision enhancement systems.
Tiger-Lynk can perform a wide array of services in extreme turbid
conditions and at depths of up to 180 feet.
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
(the "ACT"). In particular, when used in the preceding discussion,
the words "estimated," "believe," "optimistic," "expect," and
similar conditional expressions are intended to identify
forward-looking statements within the meaning of the ACT and are
subject to risks and uncertainties, and actual results could differ
materially from those expressed in forward-looking statements. Such
risks and uncertainties include, but are not limited to,
unfavorable market conditions, increased competition, limited
working capital, and failure to implement business strategies,
actions by regulatory agencies, and other risks.
CONTACT: For investor relations, Hollund Industrial Marine, Inc.
info@hollundindustrial.com
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