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WSS to acquire Timm AS

LNG Industry,

Wilhelmsen Ships Service (WSS) has announced that it has signed a definitive agreement to acquire Timm AS.

Timm is a leading provider of high performance ropes with five distribution hubs. 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 said: “Since 2009, we have focused 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.”

Bjørge Grimholt, President at WSS, said: “The Timm acquisition reinforces our position as a global player within marine products […] Together, we will develop this business significantly and in line with our ambitious growth targets.”

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