December 18, 2014 3:54 AM ET

Machinery

Company Overview of The Gates Corporation

Company Overview

The Gates Corporation manufactures and supplies power transmission belts and fluid power products. It offers synchronous belts, V-belts, micro-v or v-ribbed, fleet and heavy duty, timing, and sport and recreation belts; hydraulic, cars and light trucks, and transfer hoses, as well as hose crimpers; and industrial power transmission systems, industrial fluid power solutions, and automotive aftermarket products. It serves aggregate, agriculture, bicycle, bottling, cars and light trucks, construction, conveyor belts, fleet and heavy duty, food processing, HVAC/ACHE, lumber, marine, mining, oil field, snowmobile and ATV, and wine making markets. The company sells its products through a network o...

1551 Wewatta Street

Denver, CO 80202

United States

Founded in 1911

Phone:

303-744-1911

Fax:

303-744-4443

Key Executives for The Gates Corporation

Chairman and Chief Executive Officer
Age: 59
Chief Financial Officer
Age: 51
Executive Vice President of the Global Aftermarket Business and President of North America Aftermarket
President of The Americas
Age: 44
President of Europe
Compensation as of Fiscal Year 2014.

The Gates Corporation Key Developments

The Gates Corporation Announces New Poly Chain Carbon Volt Belt

The Gates Corporation announced the release of its Poly Chain Carbon Volt belt, a new antistatic polyurethane solution that meets the ISO 9563 spec and retains its static conductivity longer than comparable belts. Designed for use in volatile environments like oil and gas refineries, chemical processing plants, and grain silos, Gates Poly Chain Carbon Volt belt features patented static-conductive fibers that safely transfer static to carbon tensile cords and away from the driven side of a power transmission application for improved safety in unstable settings.

Gates Corporation Announces Earnings Results for the Fourth Quarter and Full Year of 2013

Gates Corporation announced earnings results for the fourth quarter and full year of 2013. For the quarter, the company reported total Gates adjusted EBITDA from ongoing operations was $132 million. Sales from ongoing operations in the fourth quarter of 2013 were $720 million, up by 6.1% year-over-year. For the full year, Gates sales in 2013 were $2.947 billion, $25 million higher than in 2012. The group achieved strong sales growth in the automotive replacement market, particularly in Europe and North America, driven primarily by higher volumes. This growth was partially offset by a net adverse impact from changes in average currency translation rates of $26 million. Excluding this impact, 2013 sales were $51 million higher than in 2012. CapEx in 2013 was $88 million, down from $110 million in 2012, again largely due to favorable businesses in 2012. Net debt at the end of 2013 was $1.428 billion, a reduction of $53 million compared with 2012. Total group adjusted EBITDA was $558 million.

Gates Corporation Announces Release of New Products to Serve Automotive Aftermarket

Gates Corporation recently announced the addition of 394 new parts to its catalog of quality automotive products. This addition further broadens its comprehensive range of offerings for the automotive aftermarket. The new parts include turbocharger hose for VW and Audi applications, branched radiator hose, timing component kits with water pump, and small I.D. & molded hose. Two Turbocharger hose for a total of 15 SKUs, 23 new Branched Radiator Hose for a total of 282, 23 new Timing Component Kits with Water Pump, bringing the total number available to 163, 302 Small I.D. & Molded Hose for a total of 4,414, 16 BladeRunner Lawn & Garden Belts for a total of 201, 11 FleetRunner Micro-V Belts, totaling 432 SKUs, Nine DriveAlign Tensioners/Pulleys for a total of 491 SKUs, one new DEF Hose for 30 total SKUs, more parts for the fast-growing turbo systems market.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
August 14, 2014
Gates Corporation, Facility in Jefferson, North Carolina
 

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