Gates Industrial Acquires Timken Belts Business to Expand North American Reach
Denver-based Gates Industrial Corporation has finalized its acquisition of the belts division from The Timken Company, a move designed to bolster its power transmission manufacturing capabilities. The deal grants Gates control over new assets and customer networks, including a specialized production facility located in San Jose Iturbide, Mexico.
The integration aims to broaden Gates' influence across industrial original equipment manufacturers and mobility power sports markets. By absorbing these manufacturing assets, the company seeks to scale its regional footprint and incorporate new technical expertise into its existing operations.
Tom Pitstick, president of Americas at Gates, noted that the acquisition aligns with the firm’s long-term strategy for growth in both industrial and mobility sectors. The company has implemented a transition plan to manage the shift, focusing on maintaining service levels for customers while absorbing the new workforce. Financial details regarding the purchase remain undisclosed.
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