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December, 2004

Kontakt: Ann Sabbe
mediaeurope@gates.com

Gates Acquires Mectrol Corporation’s Polyurethane Belt Business

Gates Corporation is pleased to announce the acquisition of Mectrol Corporation’s polyurethane power transmission and motion control belt business, and the formation of a new company to manufacture and market those products. The new company will be known in the marketplace as Gates Mectrol.

As part of the acquisition, Gates has retained all of Mectrol Corporation’s employees who were involved in its belt business and purchased all of the production assets of the company’s polyurethane power transmission and motion control belt business.

Mectrol Corporation, a leading manufacturer of urethane timing belts and motion control components, has demonstrated its strong market presence through a commitment to its customers, its employees and its advanced manufacturing philosophy. Mectrol currently employs over 180 people and operates manufacturing and sales facilities in Salem, New Hampshire, Pfungstadt, Germany, and Cuautla, Mexico

Gates Corporation is the global market leader of power transmission belt products, with manufacturing and distribution operations in 20 countries. 

“The acquisition of Mectrol creates new opportunities for Gates to service the linear positioning, motion control and conveying markets with polyurethane products,” said Richard Bell, President of Gates Corporation. “As a part of Gates Corporation, Mectrol will now have additional opportunities for expansion into new markets and geographical locations.”

Gates Corporation is a wholly-owned subsidiary of Tomkins plc of London, England. Tomkins has annual turnover of 4.4 billion Euros and is publicly traded on the London and New York stock exchanges. Tomkins has market and technical leadership across three global businesses: Industrial and Automotive, Air Systems Components and Engineered and Construction Products.