Hollund Industrial Marine, Inc. Announces Restructuring Results in Substantial Debt Reduction
(firmenpresse) - BLAINE, WA -- (Marketwire) -- 02/10/12 -- Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) () announced today that the Company has returned the Tiger-Lynk technology to the prior owner as part of a planned restructuring. This initiative will result in a substantial decrease in the Company's debt.
"Debt reduction is a key element of our broader strategy for restructuring and long term growth," states Michael Lacy, President of Hollund Industrial Marine. "No longer burdened by debt and technology development costs, we have streamlined our business and aligned management with their core strengths."
In discussing Hollund's new business model, Mr. Lacy stated, "Our new model is focused on project development and sales in the underwater forest sector. Hollund has developed a good relationship with the technology owner and we expect that the Company will be able to utilize Tiger-Lynk tree harvester systems on future projects."
About Hollund Industrial Marine, Inc.
Headquartered in Blaine, WA, Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) is focused on sales and project development opportunities in the underwater forest sector. These projects involve removing forests flooded by dam reservoirs in a safe, economical and eco-sensitive manner. Hollund's green business model promises to deliver valuable economic development opportunities to reservoir-impacted communities worldwide.
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.
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Hollund Industrial Marine, Inc.
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Datum: 10.02.2012 - 21:00 Uhr
Sprache: Deutsch
News-ID 113510
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BLAINE, WA
Kategorie:
Machinery & Tools
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