newsfilter
← Latest News
PR Newswire·

Timken Completes Sale of Belts Business to Gates

  • The Timken Company completed the sale of its belts business assets to Gates Industrial Corporation Ltd.
  • Financial terms of the transaction were not disclosed.
  • The divestiture aims to help Timken achieve its 2028 margin targets.
  • Exiting the belts business allows Timken to focus on core competencies in advanced motion technology.
  • The divested business manufactured belts for industrial, commercial, & consumer applications.
  • The transaction is expected to improve adjusted EBITDA margins for Timken's Industrial Motion segment.
  • The deal is projected to be accretive to earnings per share (EPS) in 2027.
  • Proceeds from the sale will fund Timken's capital allocation priorities.
  • Timken reported $4.6 billion in sales in 2025 with approximately 19,000 employees across 45 countries.