Hollund Industrial Marine, Inc. (http://www.hollundindustrial.com/) (OTC Pink: HIMR) ("Hollund" or the "Company"), an underwater forestry project management company, is pleased to announce that significant progress has been made towards completion of infrastructure construction integral to the start-up of operations for the Bayano Lake Timber Project in Panama.
Construction on the primary access road and log landing site is estimated to be roughly 85% complete, according to Bayano Lake Wood Products' senior partner. The project will continue in the construction phase for just a couple of more weeks and is expected to move into commercial recovery operations in January of 2014.
Peter Meier, president of HIMR, stated, "Construction work on the remaining project infrastructures is near completion. We anticipate the project logging crews will be conducting initial timber recovery trials inside of mid-December 2013. The access road and log landing construction plays a critical part in implementing the wood recovery and wood distribution operational plan. We are pleased with the progress made in the construction phase."
Management looks forward to providing further updates on the Bayano Lake Project and other key corporate initiatives in the near future.
About Hollund Industrial Marine, Inc.
Headquartered in Blaine, WA, Hollund Industrial Marine Inc. (OTC Pink: 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.
SOURCE: Hollund Industrial Marine, Inc.
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