Timken Agrees to Divest Belts Unit to Gates Industrial

MT Newswires Live

05/01

Timken (TKR) said Friday it agreed to sell the assets of its belts business to Gates Industrial (GTES).

Financial terms of the transaction were not disclosed.

The company said it plans to use the sale proceeds to support its capital allocation priorities, with the transaction expected to close in Q3 2026.

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