Gates completes acquisition of Timken belts business
GTES•Gates Industrial completed its acquisition of Timken’s belts business, including select manufacturing assets. Financial terms were not disclosed.
1. Acquisition completed
Gates Industrial completed the acquisition of Timken’s belts business, including select manufacturing assets. The deal expands Gates’ North American power transmission footprint across industrial OEM, aftermarket and mobility power sports markets.
2. Mexico facility
Gates assumed operational control of a belts manufacturing facility in San Jose Iturbide, Mexico. Financial terms were not disclosed.
