Ropes made by Timm Slovakia. (source: Facebook - Timm Slovakia)
A foreign investor that has been present in Slovakia now for around a quarter of a century is planning to expand its production facility in Trenčín, reports the Denník N daily.
Norwegian company Timm, which was founded in 1772, has specialised in producing ropes for the maritime and fishing industries since its inception.
Now, the investor, which launched operations in Slovakia around the turn of the millennium, is preparing for significant growth in Trenčín. Plans include adding a second production hall, which will increase production capacity in Slovakia by 50 percent.
The new hall will cost €10 million and will include new production facilities spanning over 6,500 square metres as well as a new administrative centre for the company.
Approximately 40 new employees will be hired for the new facility, which will house twisting and braiding machines, adding to the current workforce of around 100 at the plant. Construction of the new hall is expected to take place between 2026 and 2028.
The new investment is particularly important for ensuring the long-term prosperity of the Slovak branch, especially as it comes after two financially challenging years.
The Norwegian subsidiary’s losses were primarily due to the post-Covid rise in material costs for rope production. This new investment aims to improve production efficiency.
Who is the investor?
Timm produces not only mooring and towing ropes for the maritime and fishing industries but also lifting ropes for oil rigs, yachting ropes, and off-road ropes for the retail sector. Its main customers are in coastal countries.
Since 2015, Timm has been part of the larger Norwegian company, Wilhelmsen Ships Service, which also has a long history, having been founded in 1861. Wilhelmsen is a multinational maritime group based in Lysaker, Norway, with over 21,000 employees. The company’s fleet provides cargo transport services to 75 countries worldwide.
Wilhelmsen specialises in transporting large goods that are not typically shipped in container vessels, primarily focusing on vehicles and industrial equipment.
