BLAINE, WA--(Marketwired - Jan 15, 2014) - Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the "Company"), an underwater forest management company, announces the completion of infrastructure construction at the Bayano Lake Timber Project in Panama.
Peter Meier, president of Hollund, stated, "The Bayano Lake Wood Products project team has successfully completed construction on the primary access road and log landing site. This is a critical step in allowing the project to advance into the wood recovery, processing and distribution stage. We anticipate the logging crews will be conducting initial timber recovery trials just inside of the next few weeks -- during which time we expect to finalize the operating plan with our senior partner. We are pleased with the completion of the construction phase and eagerly look forward to the start up of operations at Bayano."
About Hollund Industrial Marine, Inc.
Headquartered in Blaine, WA, Hollund Industrial Marine Inc. (PINKSHEETS: HIMR) seeks to align the interests of businesses, communities, utilities and governments by offering an integrated business model for underwater forest management. Hollund's model -- including resource and needs assessment, permitting, environmental and project planning, logging, milling, product branding and sales adds value for our shareholders, our partners and reservoir based 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.