DENVER (Dec. 8)—Gates Corp. has bought the polyurethane power-transmission and motion-control belt business of Mectrol Corp. for an undisclosed price and will form a new company—Gates Mectrol—to make and market the PU products.
"The acquisition of Mectrol creates new opportunities for Gates to service the linear positioning, motion control and conveying markets with polyurethane products," said Gates President Richard Bell in a prepared statement. "As a part of Gates, Mectrol will now have additional opportunities for expansion into new markets and geographical locations."
Gates said it intends to keep all 180-plus employees from Mectrol Corp.'s belt business at facilities in Salem, N.H.; Pfungstadt, Germany; and Cuautla, Mexico.
Salem-based Mectrol will continue to make pulleys and speed reducers at the Salem plant until it can relocate that business to new facilities. It also retains facilities in Wallau, Germany; Barcelona, Spain; and Puebla, Mexico.