BLAINE, CA, Mar 28, 2014 (Marketwired via COMTEX) -- Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) ("Hollund"), an underwater forest management company, announced today that the project team officially arrived at Bayano Reservoir on Tuesday afternoon to meet its Senior Project Manager and view the logistics operations management.
"We're very impressed by what our senior partner and his team have accomplished over the past few months," stated Sheldon Romain, Vice President of Hollund. "It is nothing short of remarkable, given the challenging work conditions and remote location. We look forward to sharing our documentary of this unique project, as it continues to progress well."
Hollund's project team -- which includes, Vice President Sheldon Romain and various industry consultants, including North Cal Wood Products -- surveyed the 1000+ hectare concession, where they were able to identify such high value tropical wood species as Espave, Cumaru (Teak), and Cocobolo. Later, the team arrived at the primary log takeout and landing site where they met additional members of the logistics crew. Finally, the team traversed the 3 kilometer-long access road, which has been widened and resurfaced to accommodate for loaders and other heavy equipment. During their visit, Hollund and its senior partner also discussed team strategies for improving efficiencies in the targeting and identification of marketable wood species needed to fulfill pending purchase orders.
Mr. Romain concluded, "While there is still much work to be done, including a full roll-out of operations, we are encouraged by the high spirits of the logistics team and their strong desire to move this project into the next phase."
The Company's senior partner plans to manage the diver based operations during the initial period until the arrival of a state-of-the-art robotic timber harvester; capable of harvesting up to 100 trees per day. Based on discussions with the senior partner, management expects the timber crews to be able to initially recover as many as eight trees per day or more from the reservoir. However, the plan is to scale the logging operations over the first year in order to meet what Hollund anticipates will be growing demand for its superior- quality, underwater harvested wood products.
About Hollund Industrial Marine, Inc. Headquartered in Blaine, WA, Hollund Industrial Marine Inc. (PINKSHEETS: HIMR), is an underwater forest management company which seeks to align the interests of businesses, communities, utilities and governments by offering an integrated business model for underwater forest management. Hollund's model, which includes resource and needs assessment, permitting, environmental and project planning, logging and milling, adds value to reservoir 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.
Contact: For investor relations Hollund Industrial Marine, Inc. Email Contact (707) 659-6631SOURCE: Hollund Industrial Marine, Inc.
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SUBJECT CODE: Agriculture:Equipment and Supplies
Agriculture:Forestry
Energy and Utilities:Alternative Energy
Energy and Utilities:Utilities
Professional Services: General
Manufacturing and Production:Forest and Paper Products
Manufacturing and Production:Machinery and Tools
Professional Services:Consulting
Environment:Natural Resource Management
