Gates to exit airspring business, sell assets

Denver, Colorado--Gates Corp is exiting the airspring business and plans to sell its assets in that area. The company currently makes airsprings for automotive and industrial applications, mostly in plants in Aachen, Germany and Lerma, Mexico.

Richard Bell, President of Gates Corp. said, "our analysis shows that the long term potential of the air springs market is no longer in line with our strategic focus."

Gates said in a statement, "All new business development activities will cease immediately.  The division's efforts will shift to finding a buyer for the business or develop and implement transition plans for current AirSprings customers."

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Press release from Gates

Rocky Mountain News (US) story

AutoMobile (US) story about fitting airsprings to an older car (background info)