Timken Completes Sale of Belts Business to Gates
News related to:The Timken Company · 2 min read
NORTH CANTON, Ohio, Sept. 28, 2026 /CourierPR/ -- The Timken Company, a leader in advanced motion technology, today announced the completion of the sale of its belts business assets to Gates Industrial Corporation Ltd. (NYSE: GTES). This divestiture is a significant step in the company's strategy to improve its profitability and refocus on its core competencies. The sale of the belts business is expected to enhance the adjusted EBITDA margins of Timken's Industrial Motion segment and contribute to the company's goal of achieving its stated 2028 margin targets. Financial terms of the transaction were not disclosed, but the divestiture is a crucial part of Timken's strategic plan to streamline its operations and improve efficiency.
The divested belts business, which manufactures a comprehensive line of belts used in various industrial, commercial, and consumer applications, will now be operated by Gates Industrial Corporation Ltd. The sale of this business is a testament to the company's commitment to focusing on its core areas of expertise.
The divestiture is expected to have a positive impact on Timken's financial performance. Proceeds from the divestiture will be used to fund the company's capital allocation priorities. Timken's history and current operations are detailed in its annual reports, which are available on its website and through filings with the Securities and Exchange Commission, including its Form 10-K and Form 8-K reports.
Timken's Industrial Motion segment designs and manufactures highly engineered systems and components for customers in strategic end markets, including aerospace and defense, power and electrification, and automation and industrial solutions. The company's sales and workforce figures are indicative of its significant presence in these markets. Timken posted $4.6 billion in sales in 2025 and employs approximately 19,000 people, operating from 45 countries. The company's website, www.timken.com, and its social media presence, @TheTimkenCompany, provide additional information for those interested in learning more.
The Litigation Reform Act of 1995 refers to the U.S. legislation that allows for certain statements to be considered forward-looking. In particular, statements related to expectations regarding future financial performance are forward-looking. The company cautions that actual results may differ from those projected or implied in forward-looking statements due to a variety of important factors, including fluctuations in customer demand, unanticipated changes in business relationships, and changes in global economic conditions.
In summary, the sale of the belts business to Gates Industrial Corporation Ltd. is a strategic move by Timken to improve its profitability and focus on its core competencies. The divestiture is expected to positively impact the company's financial performance and align with its long-term strategic goals. The company's history, current operations, and future plans are detailed in its annual reports and filings with the Securities and Exchange Commission.