DENVER, Sept. 28, 2026 /PRNewswire/ -- Gates Industrial Corporation Ltd. (NYSE: GTES), a leading global manufacturer of innovative, highly engineered power transmission and fluid power solutions, today announced it has completed the acquisition of the belts business of The Timken Company, including select manufacturing assets.

The acquisition expands Gates' North American power transmission with additional manufacturing capacity and customer relationships across industrial original equipment manufacturers (OEM), the industrial aftermarket and mobility power sports markets, while also augmenting the company's talent base.

"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."

Gates has developed a structured integration approach and will leverage the broad in-region manufacturing and distribution footprint to support customers through this transition. As part of the transaction, Gates is also assuming operational control of the belts manufacturing facility in San Jose Iturbide, Mexico, enhancing the company's North American footprint.  

Financial terms of the transaction were not disclosed.

About Gates Industrial Corporation Ltd. 
Gates is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Gates offers a broad portfolio of products to diverse replacement channel customers, and to OEMs as specified components. Gates participates in many sectors of the industrial and consumer markets. Our products play essential roles in a diverse range of applications across a wide variety of end markets ranging from harsh and hazardous industries to everyday consumer applications, including virtually every form of transportation. Our products are sold in more than 130 countries across our three commercial regions: the Americas; Europe, Middle East & Africa; and Asia-Pacific. For more information, visit gates.com.

Forward Looking Statement 
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. These statements include, but are not limited to, statements related to the expected benefits of the acquisition and expectations regarding the performance of the Company's business and financial results. Such forward-looking statements are subject to various risks and uncertainties, including, among others, the possibility that the acquisition will not result in the benefits expected by Gates; risks related to the integration of Timken's belts business, including retention of customers and employees; U.S. policies, actions or legislation (including the imposition of tariffs), economic, political and other risks associated with international operations (including as a result of the ongoing conflicts in the Middle East and their impact on supply chains, such as reduced availability of certain of our production materials and increased supply costs, and economic conditions), availability of raw materials or other manufacturing inputs at favorable prices in sufficient quantities, or at a given time, changes in our relationships with, or the financial condition, performance, purchasing power or inventory levels of, of key channel partners, dependence on the continued operation of our manufacturing facilities, supply chains, distribution systems and information technology systems, our ability to forecast demand or meet significant increases in demand and market acceptance of new product introductions and innovations. Additional factors that could cause the Company's results to differ materially from those described in the forward-looking statements can be found under the section entitled "Risk Factors" of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the Securities and Exchange Commission, as such factors are or may be updated from time to time in the Company's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Company's filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. 

Media Contact
Raquel Fuentes
CorpComm@Gates.com

Investor Contact
Rich Kwas
InvesterRelations@Gates.com

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SOURCE Gates Corporation