Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Wilhelmsen and Timm tie the knot

Wilhelmsen and Timm tie the knot
Wilhelmsen Ships Service (WSS) is acquiring high performance rope manufacturer Timm AS.

Timm, in business for 240 years, is owned by Christian Krefting (through Krefting AS), Jacob Stolt-Nielsen (through BSN AS) and md Tore Strand (through Skarbu AS).

“Timm will contribute with some $16m to our revenue with immediate effect,” says Bjørge Grimholt, president at WSS. “This is a renowned brand with high quality products, which is a good fit with our global supply and service network. We have significant synergy potential going forward. Together, we will develop this business significantly and in line with our ambitious growth targets.”

“Since 2009, we have focussed on innovation and industrialisation; we have turned around the business and prepared Timm for further expansion,” said Krefting and Stolt-Nielsen in a joint statement. “We are very pleased that an international and industrial company like WSS will carry on our tradition since 1772 to deliver great ropes worldwide and grow the business further.

“Tore Strand has been instrumental in building up Timm and we are pleased that he will ensure continuity in the leadership as part of WSS.”