Progress Indicator suggestions for multithreaded operations?

In the old version of our application, the operations performed during loading were sequential. We indicated progress by updating a single-line text string with the component that was being loaded. Eg:

Loading <Module 1> ...
Loading <Module 2> ...
etc

In the new version of our app we now load the modules in multiple threads, which speeds up the loading times, but still takes a while.

What would be a better way to indicate progress?