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Gates Industrial Corp

#2933

Rank

$4.53B

Marketcap

US United States

Country

Gates Industrial Corp
Leadership team

Mr. Ivo Jurek (CEO & Director)

Mr. L. Brooks Mallard (Exec. VP & CFO)

Mr. Thomas G. Pitstick (Sr. VP & Chief Marketing Officer)

Products/ Services
Automotive, Industrial, Manufacturing, Recreational Vehicles
Number of Employees
1,000 - 20,000
Headquarters
Denver, Colorado, United States
Established
1911
Company Registration
SEC CIK number: 0001718512
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
GTES
Social Media
Overview
Location
Summary
Gates Industrial Corporation plc manufactures and sells engineered power transmission and fluid power solutions worldwide. It operates in two segments, Power Transmission and Fluid Power. The company offers synchronous or asynchronous belts, including V-belts, CVT belts, and Micro-V belts, as well as related components, such as sprockets, pulleys, water pumps, tensioners, or other accessories; solutions for stationary and mobile drives, engine systems, personal mobility, and vertical lifts application platforms; metal drive components; and kits for automotive replacement channels. It also provides fluid power solutions comprising stationary hydraulics, mobile hydraulics, engine systems, and other industrial application platforms; and hydraulics, including hoses, tubing, and fittings, as well as assemblies. The company serves construction, agriculture, energy and resources, automotive, transportation, mobility and recreation, consumer products, and various industrial applications, such as automated manufacturing and logistics systems. It sells its engineered products under the Gates brand. The company offers its products to replacement channel customers, as well as to original equipment manufacturers. Gates Industrial Corporation plc was founded in 1911 and is headquartered in Denver, Colorado.
History

On October 1, 1911, Charles Gates Sr. purchased the Colorado Tire and Leather Company located in Denver, Colorado beside the South Platte River. Colorado Tire and Leather Company made a single product, the Durable Tread, a steel-studded band of leather that motorists attached to tires to extend their mileage. In 1917, the company began phasing out leather in favor of rubber and Charles Gates changed its name to the International Rubber Company.

That same year, John Gates, Charles's brother, developed a belt made of rubber and woven threading called a V-belt, due to its shape. It replaced the hemp and rope belt used on automobiles and industrial machinery at the time, and was a model for the common serpentine belt. The belt's success propelled the company to become the largest manufacturer of V-belts, a title it still holds.In 1919, the International Rubber Company changed its name to the Gates Rubber Company. Gates continued its expansion across the United States, opening more factories and hiring thousands of people. Then, in 1954, its first international manufacturing facility was built in Brantford, Ontario, Canada. Expansion to other countries followed. In 1958, the company opened Gates Rubber de Mexico. In 1963, Gates built a belt and hose plant in Erembodegem, Belgium, the first of many European facilities.

In the 1980s, Gates expansion continued when the company acquired the Uniroyal Power Transmission Company and became the world's largest synchronous/timing belt manufacturer, firmly establishing its growth path in the Asia-Pacific region.In 1996, the company was acquired by the British-based engineering firm Tomkins plc, ending 85 years of family ownership. In 2003, Gates changed its name to The Gates Corporation, a move reflecting the company's expanding range of industrial brands, product lines, and customers. The Denver factory closed, and by 2001, some buildings hadn't been used in nearly a decade. Asbestos contaminated the buildings and trichloroethylene in the groundwater was still under remediation in late 2014. While parts of the property had been redeveloped, the original factory remained deserted until November 2013, when demolition of the final factory buildings began. The site was purchased by Denver-based Frontier Renewal in September 2014 with the intention of completing the cleanup preparing it for future development.After an unsolicited approach, in July 2010 Tomkins was acquired by a Canadian consortium of private equity firm Onex Corporation and the Canada Pension Plan Investment Board for £2.9 billion. In July 2014, The Blackstone Group, the world's largest buyout firm, agreed to acquire The Gates Corporation from Onex Corp. and Canada Pension Plan Investment Board for $5.4 billion. In December 2017, Gates Corporation filed an initial public offering and became a public corporation. The company's headquarters are located at 1144 15th Street in Denver, Colorado.

Mission
We strive to be the best fluid power and power transmission company in the world, providing products, services, and solutions that drive endless possibilities for our customers.
Vision
Continually push the boundaries of materials science to advance the way the world moves.
Key Team

Mr. Walter T. Lifsey (Exec. Officer)

Mr. Grant L. Gawronski (Exec. VP & Chief Commercial Officer)

Mr. David M. Wisniewski (Sr. VP & Chief Accounting Officer)

Mr. Bill Waelke (VP of Investor Relations)

Ms. Cristin C. Bracken (Sr. VP, Chief Legal Officer & Corp. Sec.)

Mr. Diego Silva (Sr. VP & Chief Information Officer)

Ms. Gwendolyn Montgomery (Sr. VP of Global HR)

Recognition and Awards
Gates Industrial Corporation has been recognized with numerous awards and honors, including the 2018 Technology Showcase award for 'Best Automotive Contribution', the Employee Driven Change award in 2017 and '2018 Distributor Center of Excellence' award by DISTek Integration Incorporated.
References
Gates Industrial Corp
Leadership team

Mr. Ivo Jurek (CEO & Director)

Mr. L. Brooks Mallard (Exec. VP & CFO)

Mr. Thomas G. Pitstick (Sr. VP & Chief Marketing Officer)

Products/ Services
Automotive, Industrial, Manufacturing, Recreational Vehicles
Number of Employees
1,000 - 20,000
Headquarters
Denver, Colorado, United States
Established
1911
Company Registration
SEC CIK number: 0001718512
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
GTES
Social Media