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Gates Industrial Corporation plc (GTES) reports developments as a global manufacturer of engineered power transmission and fluid power solutions. Its Power Transmission products convey power and control motion, while its Fluid Power products include hose and rigid tubing assemblies used to transfer hydraulic power or move fluids, gases and granular materials.
Recurring news covers quarterly and annual operating results, guidance, cash flow, balance sheet commentary, share repurchase activity and investor-conference presentations. Company updates also describe its OEM specified-component business, replacement-channel customers, and sales across the Americas, Europe, Middle East & Africa, Greater China, and East Asia & India.
Gates Industrial Corporation (NYSE: GTES) announced its participation in the Evercore ISI Industrial Conference on March 2, 2021, at 3:20 p.m. Eastern Time. CEO Ivo Jurek will present during this virtual event. Gates, a global leader in power transmission and fluid power solutions, serves diverse industrial and consumer markets, operating in 128 countries. The company specializes in innovative products essential for various applications, including agriculture, manufacturing, and everyday consumer goods. For more details, visit the company's Investor Relations site.
Gates Industrial Corporation plc (NYSE: GTES) has announced the pricing of a secondary offering of 22 million ordinary shares at $15.00 per share, facilitated by certain selling stockholders associated with Blackstone Group. The offering will close on March 2, 2021, pending customary conditions. Gates will not receive any proceeds from this sale. The underwriters, including Citigroup and Evercore ISI, have an option to buy an additional 3.3 million shares within 30 days. This offering is conducted under an effective shelf registration statement.
On February 23, 2021, Gates Industrial Corporation plc (NYSE: GTES) announced a secondary offering of 22,000,000 ordinary shares by certain stockholders affiliated with The Blackstone Group Inc. This offering includes a 30-day option for underwriters to purchase an additional 3,300,000 shares. Gates will not benefit financially as it is not offering any shares and will not receive proceeds from the sale. The offering is conducted under an effective shelf registration statement, with Citigroup and Evercore ISI as lead managers.
Gates Industrial Corporation plc (NYSE: GTES) announced its participation in Citi's 2021 Global Industrials Conference on February 18, 2021, at 11:20 a.m. Eastern time. CEO Ivo Jurek will present during the virtual event. Interested parties can access the live webcast via the Gates Investor Relations website. Gates is known for its innovative power transmission and fluid power solutions, serving diverse industries and markets worldwide.
Gates Industrial Corporation plc (NYSE: GTES) announced its participation in the Barclays Industrial Select Conference on February 17, 2021. CEO Ivo Jurek will present at 2:50 p.m. Eastern time. Investors can access the live webcast via the Gates Investor Relations website. Gates is a prominent manufacturer providing innovative power transmission and fluid power solutions across diverse industries. Its products serve various applications globally, from agriculture to everyday consumer needs, available in 128 countries.
Gates Industrial Corporation (NYSE: GTES) reported strong fourth-quarter 2020 results, with net sales of $794.2 million, a 9.4% increase year-over-year. Net income attributable to shareholders rose to $24.3 million, or $0.08 per diluted share. The adjusted EBITDA margin expanded by 190 basis points to 20.5%, reflecting effective cost management and productivity improvements. The company generated $181.5 million in cash from operations and repaid $300 million in long-term debt. For 2021, Gates expects core revenue growth between 9% and 14%, along with improved adjusted EBITDA margins.
Gates Industrial Corporation plc (GTES) plans to announce its fourth-quarter financial results on February 8, 2021, prior to market opening. Management will conduct a conference call at 10:00 am ET to discuss the results, accessible via their website or through a registered link. An audio replay will be available from 1:00 pm ET on the same day until February 15, 2021. Gates operates globally, providing engineered solutions in various sectors, including agriculture and manufacturing, with products sold in 128 countries.
On December 8, 2020, Gates (NYSE: GTES) launched its new PowerGrip™ GT™ Extend™ industrial synchronous belts, initially available in the Asia-Pacific region. These belts are engineered with advanced materials, offering a higher power-carrying capacity and wider temperature ranges compared to previous models. PowerGrip GT Extend is environmentally friendly, as it's free from chlorinated compounds and requires no maintenance, reducing total-cost-of-ownership. This launch reinforces Gates' commitment to providing high-quality industrial solutions, complementing its existing product lines.
Gates Industrial Corporation (NYSE:GTES) will join the 2020 Melius Research Industrial Tech & Aerospace Forum virtually on December 8, 2020. The company is known for its innovative power transmission and fluid power solutions, catering to diverse markets including agriculture, construction, and consumer applications. Gates operates in 128 countries, providing essential products across various industries. This participation is expected to highlight the company's advancements and market position in the industrial sector.
Gates Industrial Corporation plc (NYSE:GTES) will participate virtually in Credit Suisse's 8th Annual Global Industrials Conference on December 2, 2020. As a leading manufacturer of power transmission and fluid power solutions, Gates operates in diverse markets including agriculture, construction, and consumer applications. Their products are distributed in 128 countries across four regions: the Americas, Europe, Middle East & Africa, Greater China, and East Asia & India. This conference provides an opportunity for Gates to showcase its innovative offerings and engage with industry stakeholders.