# TIMKEN CO (TKR) — divestiture/asset_sale [pending]
Source: SEC API (secapi.ai) · situation sit_342e4d96dc42746c7c2f · retrieved 2026-08-11T15:53:22.659Z

## Overview
The Timken Company designs and manufactures highly engineered systems and components for customers in strategic end markets, including aerospace and defense, power and electrification, and automation and industrial solutions.

The Timken Company entered into a definitive agreement on April 29, 2026 to sell certain assets of its belts business to Gates Industrial Corporation plc. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2026. Timken also announced the closure of its belts manufacturing facility in Springfield, Missouri. The company recorded impairment, restructuring and reorganization charges of $94.4 million in the second quarter of 2026 related to the anticipated divestiture and facility closure.

## Terms
- Counterparty: Gates Industrial Corporation plc

## Key dates
- Announced 2026-08-04

## Timeline
- 2026-08-04 · 8-K (0000098362-26-000048): 8-K - TIMKEN CO — *The Timken Company designs and manufactures highly engineered systems and components for customers in strategic end markets, including aerospace and defense, power and electrification, and automation and industrial solutions.* The Timken Company entered into a definitive agreement on April 29, 2026 to sell certain assets of its belts business to Gates Industrial Corporation plc. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2026. Timken also announced the closure of its belts manufacturing facility in Springfield, Missouri. The company recorded impairment, restructuring and reorganization charges of $94.4 million in the second quarter of 2026 related to the anticipated divestiture and facility closure.
  https://www.sec.gov/Archives/edgar/data/98362/0000098362-26-000048.txt

## Citations
- 0000098362-26-000048 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000009836226000048