This press release is dated, but does inspire hope that Hollund may or could pull through and succeed. The next press release may simply be a tier change back to current, and that is important, but the one following could be significant for all investors.
BLAINE, Wash., Nov. 26, 2012 /PRNewswire/ -- Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the "Company") announced today that the Company and North Cal Wood Products are exploring the possibility of partnering to establish a Brazilian corporation in anticipation of securing targeted projects within the country.
"Our South American Project Development Team has diligently worked at securing underwater tree harvesting projects at Tucurui and Balbina reservoirs in Brazil," stated Peter Meier , President of Hollund Industrial Marine. "However, in order to secure the concessions and begin operations, one of the requirements is to be incorporated and domiciled within the county."
Through North Cal, Hollund has identified a potential joint venture candidate with targeted industry experience, as well as government and utility contacts. Once a Brazilian JV is established, Hollund's Development Team, through the 'new co,' will seek to secure harvesting projects at both the Tucurui and Balbina reservoirs; combined projects conservatively estimated at close to $2 Billion; making the partnerships extremely valuable to all parties involved.
The Company, which is set to open its offices at North Cal's headquarters in the upcoming month – is continually growing a rapport with the nation's premier reclaimed woods company. The two companies, already operating under an MOU, are poised to grow their relationship even further should a JV successfully come to fruition in Brazil.
North Cal, which currently has an exclusive sales and distribution arrangement with Hollund, anticipates there being tens of millions of cubic meters of timber submerged at the two Brazilian locations. People close to the 30+ year old firm indicate that water wood is the best source for "Green" wood and North Cal is keen on accessing the resource.
Meier continued, "This is the primary catalyst for the possible partnership in Brazil. We have positioned Hollund to not only gain access to waters where these forests are located, but can operate more effectively and efficiently than any competitor. But most importantly, wood millers and distributors like North Cal understand the value of this resource. Luckily for us, North Cal is experienced at retrieving under water wood, is knowledgeable at milling it, and has a readily accessible market in which to distribute it."
Management at both companies are enthusiastic about the progress being made in the working relationship. The current sales and distribution arrangement, the U.S. corporate offices and now the possibility of a partnership in Brazil all speak to the growing dynamic between HIMR and North Cal; which Meier concludes, "We are very excited by the opportunity to partner with North Cal in underwater logging and look forward to growing the relationship."
