Hollund Industrial, Inc. CEO Discusses Strategic Plan for TigerLynk
Michael Lacy, President and Chief Executive Officer of Hollund Industrial, Inc. comments on the recent acquisition of TigerLynk Technology and the company’s strategic plan for new product sales and marketing.
In February of 2008, Hollund Hollund Industrial, Inc. acquired the patents to the Underwater Remote Manipulator System (URMS) known as TigerLynk. Last month, Hollund announced it had signed a letter of intent from North Cal Wood Products for the future sale of three (3) TigerLynk model AR-120 machines for $3.6 Million, or $1.2 Million each. Mr. Lacy says, “We’re currently engaged in discussions with a number of companies that are interested in purchasing multiple TigerLynk units. The interest we’ve received to date from these companies suggests that demand for the AR-120 will be strong moving forward. In anticipation of this demand, we’re currently gearing up the operations. I expect to announce additional customers in the near future.”
TigerLynk Technology was originally developed for underwater forest recovery applications. Mr. Lacy, however, says Hollund’s strategic plan to market to offshore contractors in energy, construction, mining, and flood emergency response services, in addition to forestry, will significantly enhance sales growth moving forward. “The flexible and scalable design of our technology allows us to build machine systems for a wide range of underwater projects. This advantage will allow us to penetrate a number of these attractive markets, where we see significant growth opportunities.”
About Hollund Industrial, Inc.
Incorporated in Washington, Hollund Industrial, Inc. (Pink Sheets: HLLD) is a technology development and production company focused on the marine industry. Hollund Industrial Robotics Systems, Inc. (Hollund Robotics), Hollund’s wholly owned Canadian subsidiary, has the exclusive patents to TigerLynk Technology. TigerLynk is an innovative heavy machine system being developed for various underwater construction, forestry, mining, and flood emergency response applications. TigerLynk machines feature large-scale robotic manipulators, versatile tools, and unique vision enhancement systems that enable an operator to safely perform a wide range of remote services.
For more information on Hollund, visit http://www.HollundIndustrial.com.
For more information on TigerLynk machinery, http://www.TigerLynk.com.