Wilhelmsen acquires rope specialist

Bjørge Grimholt, president: Bjørge Grimholt, president: "The Timm acquisition reinforces our position as a global player within marine products"

Wilhelmsen Ships Service (WSS) is expanding its business with the acquisition of high performance ropes provider, Timm AS.

The rope provider, which has been in business for more than 240 years, operates worldwide with five distribution hubs, with its main customer base in the European market.

“The Timm acquisition reinforces our position as a global player within marine products,” said Bjørge Grimholt, president, WSS. “Timm will contribute with some US$16m to our revenue with immediate effect. 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.”

Owners of Timm, Christian Krefting of Krefting AS, Jacob Stolt-Nielsen of BSN AS and Tore Strand of Skarbu AS, added: “Since 2009, we have focussed on innovation and industrialisation; we have turned around the business and prepared Timm for further expansion.”

“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,” they concluded.

LATEST PRESS RELEASES

SHAFT VIBRATION ELIMINATED WITH VESCONITE HILUBE

After replacing the all-rubber cutlass bearing of his new Jeanneau Sun Fast 35 Tide The Knot a frust... Read more

S/V BRYANA COMPLETES 30,000 NM WITH VESCONITE

A mid-ocean loss of steerage due to a faulty rudder bearing wasn't a scenario Luke Fisher wanted to ... Read more

Experts Highlight Viable Power and Propulsion Solutions for Next Generation Vessels

Lithium-ion battery expert Dr John Warner is presenting at the NEXT GENERATION Marine Power & Propul... Read more

AtZ add stabilizer repair and maintenance to their comprehensive portfolio of marine engineering solutions

Customers within the leisure cruise, naval and passenger ferry industries, are heavily reliant on co... Read more

Mercator Media upgrades magazines and conferences brands

February 2018 Fareham UK - Mercator Media Ltd, the international, market-leading B2B marine media bu... Read more

P&E 2017 deemed a resounding success

Taking place between the 10th-11th May, the 2017 conference welcomed high calibre speakers, delegate... Read more

View all