Gates Completes Acquisition of Timken's Belts Business to Bolster Power Transmission

Key Facts

1Gates Industrial Corporation announced the completion of its acquisition of the belts business from The Timken Company.

Gates Industrial Corporation announced the completion of its acquisition of the belts business from The Timken Company. According to a statement released via PR Newswire, the transaction includes select manufacturing assets as Gates seeks to strengthen its position in power transmission and industrial mobility markets.

GTES closed at $26.86 on September 25, 2026, while TKR closed at $117.45 on the same date. As part of the deal, Gates is assuming operational control of a manufacturing facility in San Jose Iturbide, Mexico, enhancing its North American production capacity and customer relationships across industrial OEM and aftermarket segments.