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."