Gates confirms plan to end air springs production

DENVER (Oct. 12)–Gates Corp. plans to exit the air springs industry on a timetable that allows for smooth transition for its customers to other suppliers.

The company plans to sell or close its air springs production operations in Denver, Mexico and Germany. Gates, a subsidiary of Tomkins P.L.C., is leaving the sector because “our analysis shows that the long-term potential of the air springs market is no longer in line with our strategic goals,” according to Gates President Richard Bell.

The decision was made after Gates conducted…

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