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Gates Industrial Corporation

Gates Industrial Completes Acquisition of Timken's Belts Business

Gates Industrial Completes Acquisition of Timken's Belts Business

Denver – September 28, 2026 -- Gates Industrial Corporation Ltd. (NYSE: GTES) has completed the acquisition of The Timken Company's belts business, including select manufacturing assets, expanding its North American power transmission footprint.

Gates gains manufacturing capacity and customer ties across three key markets

The deal adds production capacity and customer relationships spanning industrial original equipment manufacturers, the industrial aftermarket, and mobility power sports segments. Gates said the acquisition also strengthens its talent base with the addition of former Timken employees.

Timken Sells Belts Business to Gates, Sharpens Motion Tech Focus

Timken Sells Belts Business to Gates, Sharpens Motion Tech Focus

North Canton, Ohio – – September 28, 2026 -- The Timken Company has completed the sale of its belts business assets to Gates Industrial Corporation Ltd. (NYSE: GTES), marking a strategic exit from the belts manufacturing segment. Financial terms of the transaction were not disclosed.

Divestiture targets 2028 margin goals for Timken's Industrial Motion segment

Timken President and CEO Lucian Boldea called the sale "an important milestone in achieving our stated 2028 margin targets," noting the move allows the company to concentrate on its core advanced motion technology capabilities. The divested unit produced a broad line of belts for industrial, commercial and consumer applications.