Company Overview of The Gates Corporation
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
Founded in 1911
Key Executives for The Gates Corporation
Chairman and Chief Executive Officer
Acting Chief Financial Officer
Chief Manufacturing Officer and President of Americas Region
President of Europe, Middle East and Africa
President of Asia Pacific
Compensation as of Fiscal Year 2014.
The Gates Corporation Key Developments
The Gates Corporation Announces New Poly Chain Carbon Volt Belt
Oct 30 14
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
Feb 13 14
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
Sep 20 13
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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