Cargo Business Newswire

Monday, September 28, 2015

Wilhelmsen Ships Service to acquire rope company

Wilhelmsen Ships Service has made a deal to acquire TIMM AS, is a leading provider of high performance ropes with five distribution hubs worldwide.

"The Timm acquisition reinforces our position as a global player within marine products," says Bjørge Grimholt, president of Wilhelmsen Ships Service.

Timm 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 owners of the company are Christian Krefting (through Krefting AS), Jacob Stolt-Nielsen (through BSN AS) and Managing Director Tore Strand (through Skarbu AS).

"Timm…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," said Grimholt.