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August 04, 2015 12:03 AM ET

Machinery

Company Overview of The Gates Corporation

Company Overview

The Gates Corporation manufactures and supplies power transmission belts and fluid power products. The company offers automotive aftermarket parts, such as belts, hoses, hydraulics, tools, and accessories for cars, light trucks, fleets, and recreational vehicles; and industrial belts, hoses, hydraulics, sprockets, and sheaves and equipment for use in the areas of agriculture, food and beverage processing, mining, oil and gas, transportation, and other markets. It also provides engineering support for oilfield engineering services in North America. In addition, the company offers programs and promotions for WDs, auto parts stores, and professional service centers. Its products and services se...

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: 60
Acting Chief Financial Officer
Chief Manufacturing Officer and President of Americas Region
Age: 45
President of Europe, Middle East and Africa
President of Asia Pacific
Age: 51
Compensation as of Fiscal Year 2015.

The Gates Corporation Key Developments

Gates Corporation Announces Release of 284 New Automotive Aftermarket Parts

Gates Corporation announced it has expanded its extensive Original Equipment (OE) quality automotive products line with 284 new part numbers. This release has several new introductions across product categories. Highlights include a new Power Steering Filter that extends steering system life and helps to eliminate pump warranties. Also, 11 new OE-Exact Fan Pulley Brackets which cover over 6 million VIO, are made with high quality bearings and casting materials to provide the proper structure and support needed for the fan clutch. In addition, a new Hose Connector Assortment with hard-to-find reducer and "Y" connector components, includes a range of premium automotive fittings with 17 components in total. Gates expands product coverage with two additions to its growing hydraulics line. New 90 Degree Live Swivel Couplings for hydraulic applications are now available. Made for hydraulic equipment with complex twisting and turning components to prevent torsional forces from being transmitted to the hose, these long-lasting, trouble-free couplings mean fewer hose failures and less equipment downtime. Gates also introduced 103 new MegaCrimp® Couplings with TuffCoat™ Xtreme® Plating. The specialized coating exceeds SAE standards and offers unsurpassed protection against rust and corrosion that can damage a hydraulic system.

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.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
January 9, 2015
--
Merger/Acquisition
August 14, 2014
Gates Corporation, Facility in Jefferson, North Carolina
 

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