BRANSON, Mo., Aug. 4, 2008 (PRIME NEWSWIRE) -- Hollund Industrial, Inc. (Pink Sheets:HLLD), an industrial marine equipment and services company, today announced the following corporate review.
Sales & Marketing -- To date, we have announced a total of $7.2 million in future sales of six (6) TigerLynk AR-120 Machines, backed by letters of intent from North Cal Wood Products and Marine Recovery Systems NZ Limited. Currently we are in discussions with a number of other companies that have expressed an interest in purchasing TigerLynk Machinery. An important new customer will be announced in an upcoming press release. Based on our successful marketing, we will move forward on Phase I commercialization of the AR-120 "Alpha System".
TigerLynk AR-120 Project -- Phase I will include the manufacturing coordination, parts ordering and procurement, and development of the control systems software required for automated operation.
The Project Team has been established and a work plan has been adopted. The Team consists of a number of highly skilled heavy equipment engineers and manufacturers, led by the distinguished Dr. Claus Wagner-Bartak. As president of our subsidiary, Hollund Industrial Robotics Systems Inc., Dr. Bartak will oversee the Project and coordinate with the Team to ensure a successful and rapid commercialization.
Currently on site at Beaver Manufacturing ("Beaver"), the 120-foot Robotic Manipulator, or Arm for the Alpha System, has already been built. You may view the 32,000-pound Arm at www.tigerlynk.com. Beaver has been selected as the manufacturer and they will produce the Alpha System at their 18,000-square foot wood and mining process equipment facility located in Kamloops, British Columbia. Other Team members will be announced in upcoming press releases.
Reporting -- Our goal is to become a fully reporting issuer and move from the pink sheets to the OTC Bulletin Board. As previously announced, Moore & Associates, Chartered has been engaged as our Independent Registered Public Accounting Firm. Moore & Associates will audit our financial statements for the fiscal years December 31, 2007 and 2006. These financials are currently being prepared. We will provide our shareholders with an update as the audit process moves forward.
About Hollund Industrial, Inc.
Incorporated in Washington, Hollund Industrial, Inc. (Pink Sheets:HLLD) is an industrial marine equipment and services company. Hollund Industrial Robotics Systems, Inc., a wholly owned subsidiary, has the exclusive patents to TigerLynk Technology. TigerLynk is an innovative Underwater Remote Manipulator System ("Machine") being developed by Hollund for offshore energy, marine construction, forestry, mining, and flood emergency response applications. For more information on Hollund, visit www.HollundIndustrial.com. For more information on TigerLynk machinery, visit www.TigerLynk.com.
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.