WSS Acquires TIMM AS

Wilhelmsen Ships Service has signed a definitive agreement to acquire TIMM AS.

“The Timm acquisition reinforces our position as a global player within marine products,” says Bjørge Grimholt, President at Wilhelmsen Ships Service (WSS).

Timm is a provider of high performance ropes worldwide with five distribution hubs. The company has been in business for more than 240 years and has gained a firm foothold in the merchant fleet, especially in the European market. The company is owned by Christian Krefting (through Krefting AS), Jacob Stolt-Nielsen (through BSN AS) and Managing Director Tore Strand (through Skarbu AS).

In a joint statement, Krefting and Stolt-Nielsen says, “Since 2009, we have focussed on innovation and industrialisation; we have turned around the business and prepared Timm for further expansion.”