Belt and Belt Drives
Timken completes sale of its belts business to Gates
Timken has sold its belts business to Gates, which takes operational control of a belt plant in San José Iturbide, Mexico. Financial terms were not disclosed.
The Timken Company has completed the sale of its belts business assets to Gates Industrial Corporation, the two companies announced on 28 September 2026. Financial terms were not disclosed. For Gates, the deal adds North American power transmission capacity; for Timken, it sharpens the focus on its core motion technologies.
The divested business manufactures a comprehensive line of belts for industrial, commercial and consumer applications. According to Gates, the transaction includes select manufacturing assets and operational control of a belt manufacturing facility in San José Iturbide, Mexico.
Timken: margin targets and core focus
“This divestiture is an important milestone in achieving our stated 2028 margin targets. Exiting the belts business also allows us to increase focus on our core competencies in advanced motion technology,” said Lucian Boldea, President and CEO of Timken. He added: “We believe Gates is the right owner of the business.”
Timken expects the sale to improve adjusted EBITDA margins in its Industrial Motion segment and to be accretive to earnings per share in 2027. Proceeds will help fund the company’s capital allocation priorities. Timken reported 2025 sales of USD 4.6 billion and employs around 19,000 people in 45 countries.
Gates: more capacity and new customer relationships
Gates says the acquisition expands its North American power transmission capacity and brings new customer relationships in OEM, aftermarket and mobility/power sports markets. “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.
Sources
- The Timken Company, “Timken Completes Sale of Belts Business to Gates”, 28 September 2026 – news.timken.com
- Gates Industrial Corporation, “Gates Completes Acquisition of the Belts Business from The Timken Company”, 28 September 2026 – investors.gates.com
Image: Gates
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