Timken to Sell Belts Business to Gates

Action consistent with company's portfolio 80/20 approach Expected to improve adjusted EBITDA margins of Industrial Motion segment NORTH CANTON, Ohio, May 1, 2026 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global technology leader in engineered bearings and industrial motion, today announced that it has entered into a definitive agreement to sell the assets of its belts business to Gates Industrial Corporation plc (NYSE: GTES). Financial terms of the agreement were not disclosed.