Gates Completes Acquisition of Timken's Belts Business

Gates Industrial Corporation Ltd. announced on September 28, 2026, that it has completed the acquisition of The Timken Company's belts business, including select manufacturing assets. The purchase solidifies Gates' presence in the power transmission solutions market.

The acquisition is set to increase Gates' North American power transmission manufacturing capacity and establish new customer relationships across industrial original equipment manufacturers (OEM), the industrial aftermarket, and mobility power sports markets. Furthermore, Gates will assume operational control of the belts manufacturing facility in San Jose Iturbide, Mexico, enhancing its production footprint in North America.

"The completion of this acquisition strengthens Gates' position in power transmission and supports our strategy to grow in industrial and mobility markets," said Tom Pitstick, president, Americas at Gates. "We are pleased to welcome the new team members who are joining Gates and look forward to building on our combined capabilities to create value for our customers, employees and stakeholders."

The company has outlined a structured integration plan and intends to leverage its extensive regional manufacturing and distribution network to support customers through the transition. Financial terms of the transaction were not disclosed.