Hollund Industrial Marine Announces Progress Update on Bayano Lake Project
November 26 2013 - 8:33AM
Marketwired
Hollund Industrial Marine Announces Progress Update on Bayano Lake
Project
BLAINE, WA--(Marketwired - Nov 26, 2013) - Hollund Industrial
Marine, Inc. (http://www.hollundindustrial.com/) (OTC Pink: HIMR)
("Hollund" or the "Company"), an underwater forestry project
management company, is pleased to announce that significant
progress has been made towards completion of infrastructure
construction integral to the start-up of operations for the Bayano
Lake Timber Project in Panama.
Construction on the primary access road and log landing site is
estimated to be roughly 85% complete, according to Bayano Lake Wood
Products' senior partner. The project will continue in the
construction phase for just a couple of more weeks and is expected
to move into commercial recovery operations in January of 2014.
Peter Meier, president of HIMR, stated, "Construction work on
the remaining project infrastructures is near completion. We
anticipate the project logging crews will be conducting initial
timber recovery trials inside of mid-December 2013. The access
road and log landing construction plays a critical part in
implementing the wood recovery and wood distribution operational
plan. We are pleased with the progress made in the construction
phase."
Management looks forward to providing further updates on the
Bayano Lake Project and other key corporate initiatives in the near
future.
About Hollund Industrial Marine, Inc.
Headquartered in Blaine, WA, Hollund Industrial Marine Inc. (OTC
Pink: HIMR) seeks to align the interests of businesses,
communities, utilities and governments by offering an integrated
business model for underwater forest management. Hollund's model --
including resource and needs assessment, permitting, environmental
and project planning, logging, milling, product branding and sales
adds value for our shareholders, our partners and reservoir based
communities.
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.
Related Links:
http://finance.yahoo.com/news/hollund-industrial-marine-announces-partnership-220827285.html
CONTACT: For investor relations, Hollund Industrial Marine, Inc.
ir@hollundindustrial.com (707) 659-6631
Hollund Industrial Marine, Inc. info@hollundindustrial.com
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