Timken sells belts business to Gates Industrial to boost margins and focus on core areas

The Timken Company has agreed to sell its belts business to Gates Industrial Corporation, aiming to improve adjusted EBITDA margins and focus on its most profitable segments. This move aligns with Timken's 80/20 strategic approach to enhance margins and shareholder value. The transaction is expected to close in Q3 2026, with proceeds supporting Timken's capital priorities. Further margin impact details will be shared at Timken's Investor Day on May 20.