When HIMR stated in their recent shareholder letter that opportunities were now opening for HIMR in the Caribbean area, I began looking a little closer at this region. Below is one company profitably operating in this area, and that could become a Hollund Industrial Marine customer.

CoastEcoTimber is a fully integrated wood manufacturer that owns two operating subsidiaries, Gesvalue and CoastEcoTimber Panama which together employ over 80 people in Panama working on their underwater operations and at their sawmill.

Gesvalue is CoastEcoTimber's underwater harvesting company which has the rights to underwater log a 1,147 sq. hectare concession of old growth exotic hardwoods submerged in Lake Gatun. When Teddy Roosevelt dammed the Chagres River in 1913 to create what is now called the Panama Canal, he flooded a jungle the size of Montreal, Canada and created Lake Gatun. This is the area in which Gesvalue is salvaging timbers.

CoastEcoTimber has built a reputation in Canada and Panama for the ability to provide quality, sustainable products while at the same time positively impacting the local economy and communities by providing jobs, giving back to schools, and other local initiatives through CoastEcoTimber’s DoGoodWood charity. A percentage from the sale of each manufactured FSC Panama Canal wood product goes to The DoGoodWood charity to support local communities in which the wood was grown.