Hollund Industrial Marine, Inc. Announces New Plan to Accelerate Entry Into Largely Untapped $50 Billion Global Underwater Logging Market
(firmenpresse) - BLAINE, WA -- (Marketwire) -- 12/08/11 -- Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) () 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) () is focused on the commercialization and marketing of its patented Tiger-Lynk Technology () 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.
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Datum: 08.12.2011 - 06:59 Uhr
Sprache: Deutsch
News-ID 1064058
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Forest and Paper Products
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