Gates reports sales increase in 2008

ERJ staff report (RD)

London, UK – Tomkins plc, owner of Gates Corp., formerly Gates Rubber, has announced its financial 2008 preliminary results.

In the company’s Power Transmission group, sales rose to $2 106 million (Euro 1 689 million) from $2 063 million in 2007, and adjusted profit was up from $266.8 million in 2007 to $229.6 million.

Sales in the company’s Power Transmission group increased “principally due to foreign exchange gains and price increases which more than offset lower underlying volumes from global…

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